California State Teachers Retirement System Trims Stake in American Equity Investment Life Holding Company (AEL)

California State Teachers Retirement System lessened its holdings in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 9.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,420 shares of the financial services provider’s stock after selling 15,436 shares during the quarter. California State Teachers Retirement System owned about 0.17% of American Equity Investment Life Holding worth $4,032,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of American Equity Investment Life Holding by 11.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 414 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of American Equity Investment Life Holding by 79.5% during the second quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 2,226 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of American Equity Investment Life Holding by 90.3% during the second quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 2,427 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of American Equity Investment Life Holding during the second quarter worth about $174,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of American Equity Investment Life Holding during the second quarter worth about $203,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

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Several brokerages recently weighed in on AEL. BidaskClub cut shares of American Equity Investment Life Holding from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Royal Bank Of Canada increased their price target on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. ValuEngine upgraded shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) began coverage on shares of American Equity Investment Life Holding in a research report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 target price on the stock. Finally, TheStreet upgraded shares of American Equity Investment Life Holding from a “c+” rating to a “b” rating in a research report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. American Equity Investment Life Holding currently has an average rating of “Buy” and a consensus price target of $26.38.

Shares of American Equity Investment Life Holding Company (NYSE:AEL) opened at $29.65 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $2.62 billion, a P/E ratio of 15.12 and a beta of 2.54.

American Equity Investment Life Holding (NYSE:AEL) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.12. The business had revenue of $819.10 million during 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 business’s revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. research analysts anticipate that American Equity Investment Life Holding Company will post 2.64 earnings per share for the current fiscal year.

About American Equity Investment Life Holding

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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