JPMorgan Chase & Co. Lowers Position in American Equity Investment Life Holding (NYSE:AEL)

JPMorgan Chase & Co. decreased its position in American Equity Investment Life Holding (NYSE:AEL) by 29.5% during the 1st quarter, Holdings Channel reports. The fund owned 624,145 shares of the financial services provider’s stock after selling 261,632 shares during the quarter. JPMorgan Chase & Co.’s holdings in American Equity Investment Life were worth $19,680,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of American Equity Investment Life in the fourth quarter valued at about $29,000. Vantage Consulting Group Inc purchased a new stake in shares of American Equity Investment Life in the fourth quarter valued at about $50,000. Steward Partners Investment Advisory LLC purchased a new stake in American Equity Investment Life during the fourth quarter worth about $92,000. Guardian Wealth Advisors LLC purchased a new stake in American Equity Investment Life during the first quarter worth about $126,000. Finally, Veriti Management LLC purchased a new stake in American Equity Investment Life during the fourth quarter worth about $130,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Robert L. Howe sold 6,143 shares of the company’s stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $30.01, for a total transaction of $184,351.43. Following the completion of the transaction, the director now owns 70,500 shares of the company’s stock, valued at $2,115,705. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ted Morris Johnson sold 31,380 shares of the company’s stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $31.91, for a total transaction of $1,001,335.80. Following the transaction, the chief financial officer now directly owns 82,234 shares of the company’s stock, valued at approximately $2,624,086.94. The disclosure for this sale can be found here. In the last three months, insiders sold 41,723 shares of company stock valued at $1,321,179. Company insiders own 1.99% of the company’s stock.

NYSE:AEL opened at $32.62 on Friday. The firm has a 50 day moving average price of $31.43. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 4.56 and a beta of 1.24. American Equity Investment Life Holding has a 1-year low of $19.06 and a 1-year high of $34.25.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Tuesday, May 4th. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). The firm had revenue of $497.19 million during the quarter, compared to analyst estimates of $491.14 million. American Equity Investment Life had a net margin of 19.17% and a return on equity of 5.56%. Equities analysts expect that American Equity Investment Life Holding will post 2.95 earnings per share for the current year.

A number of analysts recently commented on AEL shares. Royal Bank of Canada boosted their price objective on shares of American Equity Investment Life from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, April 6th. They noted that the move was a valuation call. Citigroup boosted their price objective on shares of American Equity Investment Life from $21.00 to $33.00 in a report on Wednesday, March 31st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on shares of American Equity Investment Life from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. started coverage on shares of American Equity Investment Life in a report on Wednesday, March 3rd. They set a “neutral” rating on the stock. Finally, Morgan Stanley reduced their price target on shares of American Equity Investment Life from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, May 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.00.

American Equity Investment Life Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities. It markets its products through independent agents, including independent 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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