Mackay Shields LLC Has $4.33 Million Position in American Equity Investment Life Holding (NYSE:AEL)

Mackay Shields LLC raised its position in American Equity Investment Life Holding (NYSE:AEL) by 202.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,072 shares of the financial services provider’s stock after acquiring an additional 119,800 shares during the quarter. Mackay Shields LLC owned approximately 0.20% of American Equity Investment Life worth $4,334,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. LSV Asset Management lifted its stake in American Equity Investment Life by 2.8% in the second quarter. LSV Asset Management now owns 891,500 shares of the financial services provider’s stock valued at $24,213,000 after acquiring an additional 24,100 shares during the last quarter. Kempen Capital Management N.V. raised its stake in American Equity Investment Life by 28.9% in the 2nd quarter. Kempen Capital Management N.V. now owns 441,043 shares of the financial services provider’s stock worth $11,979,000 after purchasing an additional 98,904 shares in the last quarter. Aperio Group LLC raised its stake in American Equity Investment Life by 1.3% in the 2nd quarter. Aperio Group LLC now owns 75,576 shares of the financial services provider’s stock worth $2,053,000 after purchasing an additional 937 shares in the last quarter. Wells Fargo & Company MN raised its stake in American Equity Investment Life by 39.6% in the 2nd quarter. Wells Fargo & Company MN now owns 695,993 shares of the financial services provider’s stock worth $18,903,000 after purchasing an additional 197,306 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new stake in American Equity Investment Life in the 2nd quarter worth about $477,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.

Several brokerages recently issued reports on AEL. Zacks Investment Research raised shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a report on Wednesday. B. Riley reissued a “neutral” rating on shares of American Equity Investment Life in a report on Tuesday, October 15th. UBS Group boosted their target price on shares of American Equity Investment Life from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup reduced their target price on shares of American Equity Investment Life from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, ValuEngine upgraded shares of American Equity Investment Life from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $27.25.

Shares of American Equity Investment Life stock traded up $0.19 during trading on Friday, reaching $28.40. 397,828 shares of the company traded hands, compared to its average volume of 450,378. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. American Equity Investment Life Holding has a 1-year low of $20.16 and a 1-year high of $36.06. The company has a 50 day moving average price of $24.24 and a 200-day moving average price of $25.78. The firm has a market capitalization of $2.39 billion, a PE ratio of 6.09 and a beta of 1.97.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $2.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $1.56. The business had revenue of $643.40 million for the quarter, compared to the consensus estimate of $641.01 million. The business’s revenue for the quarter was down 46.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.87 EPS. Equities research analysts expect that American Equity Investment Life Holding will post 4.04 earnings per share for the current 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. 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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