Piermont Capital Management Inc. Has $2.65 Million Holdings in American Equity Investment Life Holding (AEL)

Piermont Capital Management Inc. grew its position in American Equity Investment Life Holding (NYSE:AEL) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,277 shares of the financial services provider’s stock after purchasing an additional 2,010 shares during the period. American Equity Investment Life comprises about 0.9% of Piermont Capital Management Inc.’s portfolio, making the stock its 25th largest position. Piermont Capital Management Inc. owned approximately 0.10% of American Equity Investment Life worth $2,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEL. Louisiana State Employees Retirement System raised its holdings in American Equity Investment Life by 6.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 38,300 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 2,300 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of American Equity Investment Life by 16.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 904,856 shares of the financial services provider’s stock worth $27,807,000 after acquiring an additional 127,097 shares during the period. Bowling Portfolio Management LLC acquired a new stake in shares of American Equity Investment Life during the fourth quarter worth $2,552,000. James Investment Research Inc. raised its holdings in shares of American Equity Investment Life by 2.1% during the fourth quarter. James Investment Research Inc. now owns 97,265 shares of the financial services provider’s stock worth $2,989,000 after acquiring an additional 1,980 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of American Equity Investment Life during the fourth quarter worth $32,746,000. Institutional investors own 93.58% of the company’s stock.

In related news, Director Alexander Meeker Clark sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.75, for a total value of $81,875.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at $196,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ronald James Grensteiner sold 47,750 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $30.20, for a total transaction of $1,442,050.00. Following the completion of the transaction, the insider now directly owns 122,792 shares of the company’s stock, valued at approximately $3,708,318.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,620 shares of company stock valued at $6,382,885. 1.90% of the stock is owned by insiders.

A number of equities research analysts recently commented on AEL shares. ValuEngine upgraded shares of American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. SunTrust Banks restated a “buy” rating and set a $38.00 price objective on shares of American Equity Investment Life in a report on Friday, February 9th. UBS started coverage on shares of American Equity Investment Life in a report on Friday, March 2nd. They set a “sell” rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. American Equity Investment Life presently has an average rating of “Hold” and a consensus price target of $30.88.

American Equity Investment Life stock opened at $28.87 on Monday. The firm has a market capitalization of $2.60 billion, a P/E ratio of 9.14 and a beta of 2.45. American Equity Investment Life Holding has a 1-year low of $23.02 and a 1-year high of $35.79. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29.

American Equity Investment Life (NYSE:AEL) last released its earnings results on Wednesday, May 2nd. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $510.78 million during the quarter, compared to the consensus estimate of $514.11 million. American Equity Investment Life had a net margin of 8.49% and a return on equity of 11.22%. During the same quarter last year, the firm earned $0.66 earnings per share. research analysts anticipate that American Equity Investment Life Holding will post 3.43 earnings per share for the current year.

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. 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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