SG Americas Securities LLC lowered its stake in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 41.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,795 shares of the financial services provider’s stock after selling 5,601 shares during the quarter. SG Americas Securities LLC’s holdings in American Equity Investment Life Holding were worth $205,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan grew its holdings in American Equity Investment Life Holding by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 20,970 shares of the financial services provider’s stock worth $551,000 after buying an additional 840 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in American Equity Investment Life Holding during the first quarter worth $1,237,000. State Board of Administration of Florida Retirement System grew its holdings in American Equity Investment Life Holding by 18.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 77,428 shares of the financial services provider’s stock worth $1,830,000 after buying an additional 11,890 shares in the last quarter. Sei Investments Co. grew its holdings in American Equity Investment Life Holding by 81.5% during the first quarter. Sei Investments Co. now owns 38,965 shares of the financial services provider’s stock worth $920,000 after buying an additional 17,498 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in American Equity Investment Life Holding by 12.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 615,136 shares of the financial services provider’s stock worth $14,536,000 after buying an additional 66,808 shares in the last quarter. Institutional investors and hedge funds own 93.28% of the company’s stock.

Several equities research analysts recently issued reports on AEL shares. Royal Bank of Canada upped their price target on American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. BidaskClub upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research downgraded American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a report on Friday, July 7th. ValuEngine upgraded American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $28.00 price target on shares of American Equity Investment Life Holding in a report on Wednesday, August 16th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $25.25.

American Equity Investment Life Holding Company (AEL) opened at 28.04 on Wednesday. American Equity Investment Life Holding Company has a 52 week low of $15.39 and a 52 week high of $28.64. The company has a market cap of $2.49 billion, a P/E ratio of 12.92 and a beta of 2.50. The firm has a 50-day moving average price of $27.54 and a 200-day moving average price of $25.66.

American Equity Investment Life Holding (NYSE:AEL) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. The business had revenue of $819.10 million during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Equities research analysts anticipate that American Equity Investment Life Holding Company will post $2.63 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/09/20/sg-americas-securities-llc-sells-5601-shares-of-american-equity-investment-life-holding-company-ael.html.

American Equity Investment Life Holding Company Profile

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)

Receive News & Ratings for American Equity Investment Life Holding Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life Holding Company and related companies with MarketBeat.com's FREE daily email newsletter.