State Board of Administration of Florida Retirement System increased its position in American Equity Investment Life Holding (NYSE:AEL) by 25.2% in the 1st quarter, Holdings Channel reports. The fund owned 111,141 shares of the financial services provider’s stock after purchasing an additional 22,347 shares during the period. State Board of Administration of Florida Retirement System’s holdings in American Equity Investment Life were worth $3,003,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AEL. Bank of America Corp DE boosted its stake in American Equity Investment Life by 14.3% in the 4th quarter. Bank of America Corp DE now owns 1,408,123 shares of the financial services provider’s stock worth $39,342,000 after purchasing an additional 176,159 shares during the period. California State Teachers Retirement System boosted its stake in American Equity Investment Life by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 140,333 shares of the financial services provider’s stock worth $3,921,000 after purchasing an additional 3,260 shares during the period. Convergence Investment Partners LLC bought a new position in American Equity Investment Life in the 4th quarter worth about $429,000. Two Sigma Advisers LP boosted its stake in American Equity Investment Life by 28.3% in the 4th quarter. Two Sigma Advisers LP now owns 51,200 shares of the financial services provider’s stock worth $1,431,000 after purchasing an additional 11,299 shares during the period. Finally, GWM Advisors LLC bought a new position in American Equity Investment Life in the 4th quarter worth about $217,000. 93.20% of the stock is owned by institutional investors.

AEL has been the subject of several analyst reports. Zacks Investment Research upgraded American Equity Investment Life from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. ValuEngine downgraded American Equity Investment Life from a “hold” rating to a “sell” rating in a research note on Thursday. TheStreet downgraded American Equity Investment Life from a “b” rating to a “c+” rating in a research note on Thursday, May 2nd. Finally, Sandler O’Neill downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.75.

Shares of AEL opened at $29.78 on Friday. The stock has a market cap of $2.71 billion, a PE ratio of 6.39 and a beta of 2.28. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.25. American Equity Investment Life Holding has a 12-month low of $25.27 and a 12-month high of $38.56.

American Equity Investment Life (NYSE:AEL) last issued its quarterly 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. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $625.65 million. American Equity Investment Life had a return on equity of 13.92% and a net margin of 13.62%. The company’s revenue for the quarter was up 741.8% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. On average, equities analysts forecast that American Equity Investment Life Holding will post 3.91 earnings per share for the current year.

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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. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

Further Reading: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding (NYSE:AEL).

Institutional Ownership by Quarter for American Equity Investment Life (NYSE:AEL)

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