California Public Employees Retirement System trimmed its stake in American Equity Investment Life Holding (NYSE:AEL) by 19.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,834 shares of the financial services provider’s stock after selling 43,302 shares during the period. California Public Employees Retirement System owned approximately 0.20% of American Equity Investment Life worth $6,582,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AEL. Vigilant Capital Management LLC bought a new position in shares of American Equity Investment Life in the second quarter worth approximately $112,000. Point72 Asia Hong Kong Ltd purchased a new stake in American Equity Investment Life in the first quarter worth approximately $188,000. 6 Meridian purchased a new stake in American Equity Investment Life in the second quarter worth approximately $206,000. Raymond James Financial Services Advisors Inc. purchased a new stake in American Equity Investment Life in the second quarter worth approximately $209,000. Finally, Zeke Capital Advisors LLC purchased a new stake in American Equity Investment Life in the second quarter worth approximately $217,000. Institutional investors own 94.69% of the company’s stock.

Several analysts have issued reports on the company. Royal Bank of Canada set a $38.00 target price on American Equity Investment Life and gave the stock a “buy” rating in a research note on Wednesday, August 8th. ValuEngine lowered American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Sandler O’Neill reaffirmed a “buy” rating and issued a $41.00 target price on shares of American Equity Investment Life in a research note on Friday, July 13th. Finally, Zacks Investment Research raised American Equity Investment Life from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, June 20th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. American Equity Investment Life currently has an average rating of “Buy” and an average price target of $35.14.

Shares of AEL opened at $32.84 on Friday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 10.58 and a beta of 2.54. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30. American Equity Investment Life Holding has a 1 year low of $27.06 and a 1 year high of $38.56.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Monday, August 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The business had revenue of $685.50 million during the quarter, compared to analyst estimates of $589.40 million. American Equity Investment Life had a return on equity of 12.32% and a net margin of 11.14%. American Equity Investment Life’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Sell-side analysts anticipate that American Equity Investment Life Holding will post 3.55 earnings per share for the current fiscal year.

American Equity Investment Life 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. The company markets its products through various distribution channels, 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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