State of Alaska Department of Revenue Has $460,000 Position in American Equity Investment Life Holding Company (NYSE:AEL)

State of Alaska Department of Revenue increased its position in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 79.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,521 shares of the financial services provider’s stock after buying an additional 7,731 shares during the period. State of Alaska Department of Revenue’s holdings in American Equity Investment Life Holding were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AEL. Guggenheim Capital LLC increased its stake in American Equity Investment Life Holding by 153.7% in the fourth quarter. Guggenheim Capital LLC now owns 138,788 shares of the financial services provider’s stock worth $3,128,000 after buying an additional 84,073 shares in the last quarter. Norges Bank purchased a new stake in American Equity Investment Life Holding during the fourth quarter worth about $19,190,000. Macquarie Group Ltd. increased its stake in American Equity Investment Life Holding by 1.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,424,278 shares of the financial services provider’s stock worth $77,183,000 after buying an additional 46,561 shares in the last quarter. Bank of Montreal Can increased its stake in American Equity Investment Life Holding by 1,380.4% in the first quarter. Bank of Montreal Can now owns 150,852 shares of the financial services provider’s stock worth $3,564,000 after buying an additional 140,662 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in American Equity Investment Life Holding by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the financial services provider’s stock worth $851,000 after buying an additional 600 shares in the last quarter. 93.84% of the stock is owned by institutional investors.

American Equity Investment Life Holding Company (NYSE AEL) traded up 0.37% during trading on Friday, reaching $27.30. The company had a trading volume of 393,453 shares. The stock has a market capitalization of $2.43 billion, a P/E ratio of 12.57 and a beta of 2.49. American Equity Investment Life Holding Company has a 12-month low of $15.27 and a 12-month high of $28.64. The stock has a 50 day moving average of $27.33 and a 200-day moving average of $25.42.

American Equity Investment Life Holding (NYSE:AEL) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The company had revenue of $819.10 million during the quarter, compared to the consensus estimate of $531.83 million. During the same period in the prior year, the company earned $0.60 EPS. American Equity Investment Life Holding’s revenue was up 49.0% on a year-over-year basis. On average, analysts forecast that American Equity Investment Life Holding Company will post $2.62 earnings per share for the current fiscal year.

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Several research firms recently issued reports on AEL. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $28.00 price target on shares of American Equity Investment Life Holding in a research note on Wednesday. BidaskClub raised American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research lowered American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $28.00 target price on shares of American Equity Investment Life Holding in a research note on Monday, May 22nd. Finally, TheStreet lowered American Equity Investment Life Holding from a “b-” rating to a “c+” rating in a research note on Monday, May 15th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. American Equity Investment Life Holding presently has an average rating of “Buy” and an average price target of $25.25.

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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