American Equity Investment Life Holding (AEL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in shares of American Equity Investment Life Holding (NYSE:AEL) by 0.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,225,609 shares of the financial services provider’s stock after selling 1,721 shares during the period. Victory Capital Management Inc.’s holdings in American Equity Investment Life were worth $43,338,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of AEL. Vigilant Capital Management LLC bought a new position in American Equity Investment Life during the second quarter worth about $112,000. 6 Meridian bought a new position in American Equity Investment Life during the second quarter worth about $206,000. Raymond James Financial Services Advisors Inc. bought a new position in American Equity Investment Life during the second quarter worth about $209,000. Zeke Capital Advisors LLC bought a new position in American Equity Investment Life during the second quarter worth about $217,000. Finally, Sawtooth Solutions LLC bought a new position in American Equity Investment Life during the second quarter worth about $238,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Shares of AEL stock opened at $34.84 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.12. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 11.03 and a beta of 2.51. American Equity Investment Life Holding has a 12-month low of $27.06 and a 12-month high of $38.56.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Monday, November 5th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.99. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $600.27 million. American Equity Investment Life had a net margin of 13.62% and a return on equity of 12.77%. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. On average, sell-side analysts anticipate that American Equity Investment Life Holding will post 3.59 EPS for the current fiscal year.

Several brokerages have issued reports on AEL. Sandler O’Neill restated a “buy” rating and set a $41.00 price objective on shares of American Equity Investment Life in a research report on Friday, July 13th. ValuEngine downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Finally, Royal Bank of Canada set a $38.00 price objective on shares of American Equity Investment Life and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $36.17.

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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. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

Read More: Preferred Stock

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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