American Equity Investment Life Holding (AEL) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its stake in American Equity Investment Life Holding (NYSE:AEL) by 22.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,996 shares of the financial services provider’s stock after buying an additional 27,017 shares during the period. Pinebridge Investments L.P. owned 0.16% of American Equity Investment Life worth $4,456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AEL. Gradient Investments LLC purchased a new stake in American Equity Investment Life in the fourth quarter worth about $101,000. Teacher Retirement System of Texas purchased a new stake in American Equity Investment Life in the third quarter worth about $203,000. V Wealth Management LLC purchased a new stake in American Equity Investment Life in the fourth quarter worth about $209,000. Everence Capital Management Inc. purchased a new stake in American Equity Investment Life in the fourth quarter worth about $209,000. Finally, Stifel Financial Corp purchased a new stake in American Equity Investment Life in the second quarter worth about $216,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

AEL has been the subject of several research analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price objective on shares of American Equity Investment Life in a report on Friday, December 8th. B. Riley raised their target price on shares of American Equity Investment Life from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, December 6th. ValuEngine raised shares of American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 22nd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $38.00 target price on shares of American Equity Investment Life in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $31.00.

American Equity Investment Life Holding (NYSE AEL) opened at $31.79 on Friday. American Equity Investment Life Holding has a one year low of $22.23 and a one year high of $35.79. The firm has a market cap of $2,809.46, a P/E ratio of 16.39 and a beta of 2.50. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.26.

American Equity Investment Life (NYSE:AEL) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.14. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $550.89 million. During the same period in the prior year, the business posted $0.63 EPS. American Equity Investment Life’s revenue for the quarter was up 99.0% on a year-over-year basis. equities research analysts expect that American Equity Investment Life Holding will post 3.4 EPS for the current fiscal year.

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American Equity Investment Life 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.

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

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