American Equity Investment Life Holding (AEL) Shares Bought by Comerica Bank

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Comerica Bank lifted its stake in shares of American Equity Investment Life Holding (NYSE:AEL) by 1.6% during the first quarter, HoldingsChannel.com reports. The fund owned 91,041 shares of the financial services provider’s stock after purchasing an additional 1,440 shares during the period. Comerica Bank’s holdings in American Equity Investment Life were worth $2,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio lifted its stake in shares of American Equity Investment Life by 1.0% in the 1st quarter. Strs Ohio now owns 42,100 shares of the financial services provider’s stock valued at $1,137,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System increased its stake in American Equity Investment Life by 0.3% in the first quarter. Arizona State Retirement System now owns 139,612 shares of the financial services provider’s stock valued at $3,772,000 after acquiring an additional 485 shares during the period. PNC Financial Services Group Inc. increased its stake in American Equity Investment Life by 9.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,032 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 580 shares during the period. Piedmont Investment Advisors Inc. increased its stake in American Equity Investment Life by 3.4% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 21,617 shares of the financial services provider’s stock valued at $604,000 after acquiring an additional 702 shares during the period. Finally, Zacks Investment Management increased its stake in American Equity Investment Life by 1.6% in the fourth quarter. Zacks Investment Management now owns 52,024 shares of the financial services provider’s stock valued at $1,454,000 after acquiring an additional 824 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.

A number of analysts recently weighed in on AEL shares. Zacks Investment Research raised shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. TheStreet cut shares of American Equity Investment Life from a “b” rating to a “c+” rating in a research note on Thursday, May 2nd. Sandler O’Neill cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, ValuEngine cut shares of American Equity Investment Life from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. American Equity Investment Life presently has an average rating of “Hold” and a consensus target price of $35.75.

NYSE AEL opened at $28.65 on Friday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 6.15 and a beta of 2.28. American Equity Investment Life Holding has a twelve month low of $25.27 and a twelve month high of $38.56. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.25.

American Equity Investment Life (NYSE:AEL) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $625.65 million. American Equity Investment Life had a net margin of 13.62% and a return on equity of 13.92%. The firm’s revenue for the quarter was up 741.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, research analysts anticipate that American Equity Investment Life Holding will post 3.91 earnings per share for the current fiscal year.

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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. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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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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