Texas Permanent School Fund increased its position in shares of American Equity Investment Life Holding (NYSE:AEL) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,449 shares of the financial services provider’s stock after purchasing an additional 2,330 shares during the period. Texas Permanent School Fund’s holdings in American Equity Investment Life were worth $1,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP purchased a new position in American Equity Investment Life during the fourth quarter worth about $49,000. Quadrant Capital Group LLC raised its holdings in American Equity Investment Life by 547.5% during the first quarter. Quadrant Capital Group LLC now owns 2,331 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,971 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in American Equity Investment Life by 149.7% during the fourth quarter. Meeder Asset Management Inc. now owns 2,629 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,576 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in American Equity Investment Life by 9.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,032 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 580 shares in the last quarter. Finally, GWM Advisors LLC purchased a new position in American Equity Investment Life during the fourth quarter worth about $217,000. 94.14% of the stock is owned by hedge funds and other institutional investors.

American Equity Investment Life stock traded down $0.45 during mid-day trading on Wednesday, reaching $30.01. The company had a trading volume of 934 shares, compared to its average volume of 440,125. American Equity Investment Life Holding has a 1 year low of $25.27 and a 1 year high of $38.56. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.69 billion, a PE ratio of 6.48 and a beta of 2.28.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. American Equity Investment Life had a net margin of 13.62% and a return on equity of 13.92%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $625.65 million. During the same period last year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 741.8% compared to the same quarter last year. On average, sell-side analysts forecast that American Equity Investment Life Holding will post 3.91 EPS for the current fiscal year.

A number of research analysts have issued reports on AEL shares. Zacks Investment Research raised shares of American Equity Investment Life from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Monday, May 6th. Sandler O’Neill cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. UBS Group increased their target price on shares of American Equity Investment Life from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. ValuEngine raised shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, TheStreet raised shares of American Equity Investment Life from a “c+” rating to a “b-” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. American Equity Investment Life currently has a consensus rating of “Hold” and a consensus target price of $35.75.

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American Equity Investment Life Company Profile

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