Dynamic Technology Lab Private Ltd Takes $263,000 Position in American Equity Investment Life Holding (NYSE:AEL)

Dynamic Technology Lab Private Ltd acquired a new stake in American Equity Investment Life Holding (NYSE:AEL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,790 shares of the financial services provider’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in American Equity Investment Life by 32.9% during the 4th quarter. Barclays PLC now owns 137,243 shares of the financial services provider’s stock worth $4,108,000 after acquiring an additional 34,006 shares in the last quarter. First Hawaiian Bank lifted its position in American Equity Investment Life by 1.8% during the 4th quarter. First Hawaiian Bank now owns 29,837 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 520 shares in the last quarter. Millennium Management LLC lifted its position in American Equity Investment Life by 32.1% during the 3rd quarter. Millennium Management LLC now owns 60,513 shares of the financial services provider’s stock worth $1,464,000 after acquiring an additional 14,707 shares in the last quarter. Man Group plc lifted its position in American Equity Investment Life by 45.1% during the 3rd quarter. Man Group plc now owns 787,684 shares of the financial services provider’s stock worth $19,062,000 after acquiring an additional 244,964 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new position in American Equity Investment Life during the 4th quarter worth approximately $28,000. 95.12% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Anant Bhalla purchased 5,500 shares of the stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $16.30 per share, for a total transaction of $89,650.00. Following the acquisition, the chief executive officer now owns 50,171 shares of the company’s stock, valued at $817,787.30. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Debra J. Richardson sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $33.20, for a total value of $664,000.00. Following the completion of the sale, the director now owns 106,022 shares of the company’s stock, valued at $3,519,930.40. The disclosure for this sale can be found here. 1.99% of the stock is owned by insiders.

AEL stock opened at $18.06 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.14. American Equity Investment Life Holding has a 52-week low of $9.07 and a 52-week high of $34.16. The stock’s 50 day moving average is $24.58 and its two-hundred day moving average is $26.41. The company has a market capitalization of $1.47 billion, a PE ratio of 6.74 and a beta of 1.85.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.33. American Equity Investment Life had a return on equity of 14.49% and a net margin of 7.10%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $661.79 million. During the same period in the previous year, the business earned $0.99 EPS. As a group, sell-side analysts anticipate that American Equity Investment Life Holding will post 4.89 EPS for the current year.

Several equities analysts recently commented on the company. Raymond James boosted their price target on American Equity Investment Life from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. SunTrust Banks boosted their price target on American Equity Investment Life from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Royal Bank of Canada lowered American Equity Investment Life from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $32.00 to $18.00 in a research report on Friday, March 20th. B. Riley reduced their price target on American Equity Investment Life from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Zacks Investment Research upgraded American Equity Investment Life from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a report on Monday, January 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. American Equity Investment Life has an average rating of “Hold” and an average target price of $29.00.

About American Equity Investment Life

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.

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

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