Balyasny Asset Management LLC cut its stake in American Equity Investment Life Holding Company (NYSE:AEL) by 86.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,933 shares of the financial services provider’s stock after selling 181,238 shares during the quarter. Balyasny Asset Management LLC’s holdings in American Equity Investment Life Holding were worth $760,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AEL. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of American Equity Investment Life Holding by 11.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 414 shares during the period. Riverhead Capital Management LLC grew its stake in shares of American Equity Investment Life Holding by 79.5% in the second quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 2,226 shares during the period. Meeder Asset Management Inc. grew its stake in shares of American Equity Investment Life Holding by 90.3% in the second quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,427 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of American Equity Investment Life Holding in the first quarter worth approximately $175,000. Finally, Invictus RG bought a new stake in shares of American Equity Investment Life Holding in the first quarter worth approximately $182,000. Hedge funds and other institutional investors own 93.28% of the company’s stock.

A number of analysts have recently commented on AEL shares. TheStreet upgraded shares of American Equity Investment Life Holding from a “c+” rating to a “b” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Tuesday, August 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 price target on shares of American Equity Investment Life Holding in a research note on Tuesday, October 10th. BidaskClub lowered shares of American Equity Investment Life Holding from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $28.00 price target on shares of American Equity Investment Life Holding in a research note on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. American Equity Investment Life Holding presently has a consensus rating of “Buy” and an average price target of $26.00.

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Shares of American Equity Investment Life Holding Company (AEL) opened at 30.13 on Tuesday. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 13.88 and a beta of 2.52. American Equity Investment Life Holding Company has a 12 month low of $15.39 and a 12 month high of $30.40. The company’s 50-day moving average is $28.29 and its 200 day moving average is $26.19.

American Equity Investment Life Holding (NYSE:AEL) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $531.83 million. During the same period last year, the firm posted $0.60 EPS. American Equity Investment Life Holding’s revenue for the quarter was up 49.0% compared to the same quarter last year. On average, equities research analysts anticipate that American Equity Investment Life Holding Company will post $2.63 earnings per share for the current 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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