Clark Capital Management Group Inc. acquired a new position in shares of American Equity Investment Life Holding (NYSE:AEL) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 60,004 shares of the financial services provider’s stock, valued at approximately $1,621,000.

Several other large investors have also recently bought and sold shares of the stock. Morgan Stanley lifted its holdings in shares of American Equity Investment Life by 94.4% during the 3rd quarter. Morgan Stanley now owns 404,335 shares of the financial services provider’s stock worth $14,297,000 after acquiring an additional 196,299 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of American Equity Investment Life by 33.9% during the 3rd quarter. Federated Investors Inc. PA now owns 70,314 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 17,806 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of American Equity Investment Life by 149.7% during the 4th quarter. Meeder Asset Management Inc. now owns 2,629 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 1,576 shares during the period. First Quadrant L P CA lifted its holdings in shares of American Equity Investment Life by 18.4% during the 4th quarter. First Quadrant L P CA now owns 21,575 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 3,351 shares during the period. Finally, NJ State Employees Deferred Compensation Plan lifted its holdings in shares of American Equity Investment Life by 4.0% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 26,000 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.

NYSE AEL opened at $29.89 on Thursday. American Equity Investment Life Holding has a one year low of $25.27 and a one year high of $38.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market capitalization of $2.77 billion, a P/E ratio of 7.81 and a beta of 2.28.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. American Equity Investment Life had a net margin of 13.62% and a return on equity of 13.92%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $625.65 million. During the same quarter last year, the firm posted $0.85 earnings per share. American Equity Investment Life’s revenue for the quarter was up 741.8% compared to the same quarter last year. Equities research analysts predict that American Equity Investment Life Holding will post 3.91 EPS for the current year.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of American Equity Investment Life from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. UBS Group raised their price target on shares of American Equity Investment Life from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TheStreet upgraded shares of American Equity Investment Life from a “c+” rating to a “b-” rating in a report on Monday. ValuEngine lowered shares of American Equity Investment Life from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Sandler O’Neill lowered shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. American Equity Investment Life presently has an average rating of “Hold” and an average target price of $35.75.

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About American Equity Investment Life

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

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