NJ State Employees Deferred Compensation Plan Has $1.16 Million Holdings in American Equity Investment Life Holding Company (AEL)

NJ State Employees Deferred Compensation Plan trimmed its holdings in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 50.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the financial services provider’s stock after selling 40,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in American Equity Investment Life Holding were worth $1,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in American Equity Investment Life Holding by 11.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 414 shares during the period. Riverhead Capital Management LLC raised its stake in American Equity Investment Life Holding by 79.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 2,226 shares during the period. Meeder Asset Management Inc. raised its stake in American Equity Investment Life Holding by 90.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 2,427 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in American Equity Investment Life Holding in the 2nd quarter valued at about $174,000. Finally, Neuberger Berman Group LLC bought a new stake in American Equity Investment Life Holding in the 2nd quarter valued at about $203,000. Institutional investors own 93.13% of the company’s stock.

Shares of American Equity Investment Life Holding Company (NYSE AEL) traded down 0.17% on Wednesday, hitting $29.46. The stock had a trading volume of 64,702 shares. The firm has a 50-day moving average price of $29.11 and a 200-day moving average price of $26.73. The stock has a market capitalization of $2.62 billion, a P/E ratio of 13.57 and a beta of 2.52. American Equity Investment Life Holding Company has a 52 week low of $15.39 and a 52 week high of $30.51.

American Equity Investment Life Holding (NYSE:AEL) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.12. The company had revenue of $819.10 million for the quarter, compared to the consensus estimate of $531.83 million. American Equity Investment Life Holding had a return on equity of 6.84% and a net margin of 6.48%. The firm’s quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. Equities analysts expect that American Equity Investment Life Holding Company will post $2.64 earnings per share for the current fiscal year.

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A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, August 8th. BidaskClub upgraded American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 price objective on shares of American Equity Investment Life Holding in a research note on Tuesday, October 10th. TheStreet upgraded American Equity Investment Life Holding from a “c+” rating to a “b” rating in a research note on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $28.00 price objective on shares of American Equity Investment Life Holding in a research note on Wednesday, August 16th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $26.38.

American Equity Investment Life Holding Profile

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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

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