Keel Point LLC Sells 4,083 Shares of American Equity Investment Life Holding Company (AEL)

Keel Point LLC decreased its stake in shares of American Equity Investment Life Holding Company (NYSE:AEL) by 25.5% during the first quarter, Holdings Channel reports. The institutional investor owned 11,903 shares of the financial services provider’s stock after selling 4,083 shares during the period. Keel Point LLC’s holdings in American Equity Investment Life Holding Company were worth $281,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in American Equity Investment Life Holding Company during the fourth quarter valued at about $13,601,000. Comerica Bank raised its stake in American Equity Investment Life Holding Company by 2.6% in the fourth quarter. Comerica Bank now owns 149,202 shares of the financial services provider’s stock valued at $3,544,000 after buying an additional 3,795 shares in the last quarter. State Street Corp raised its stake in American Equity Investment Life Holding Company by 14.9% in the fourth quarter. State Street Corp now owns 2,317,248 shares of the financial services provider’s stock valued at $52,232,000 after buying an additional 299,998 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in American Equity Investment Life Holding Company by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,408,731 shares of the financial services provider’s stock valued at $166,992,000 after buying an additional 464,803 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new stake in American Equity Investment Life Holding Company during the fourth quarter valued at about $1,710,000. 94.04% of the stock is owned by institutional investors.

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

American Equity Investment Life Holding Company (AEL) traded up 0.56% on Wednesday, hitting $25.30. The stock had a trading volume of 544,615 shares. The company’s 50 day moving average price is $24.38 and its 200 day moving average price is $24.07. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 12.18 and a beta of 2.47. American Equity Investment Life Holding Company has a 52-week low of $13.07 and a 52-week high of $28.00.

American Equity Investment Life Holding Company (NYSE:AEL) last issued its earnings results on Wednesday, May 3rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.08. American Equity Investment Life Holding Company had a net margin of 6.67% and a return on equity of 6.33%. The business had revenue of $927.30 million during the quarter, compared to analysts’ expectations of $532.31 million. During the same quarter in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 122.1% on a year-over-year basis. Analysts expect that American Equity Investment Life Holding Company will post $2.48 EPS for the current year.

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A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods assumed coverage on American Equity Investment Life Holding Company in a research report on Wednesday, April 26th. They set a “market perform” rating and a $26.00 price target on the stock. TheStreet downgraded American Equity Investment Life Holding Company from a “b-” rating to a “c+” rating in a research report on Monday, May 15th. Royal Bank Of Canada restated a “buy” rating and set a $28.00 price target on shares of American Equity Investment Life Holding Company in a research report on Monday, May 22nd. Finally, FBR & Co downgraded American Equity Investment Life Holding Company from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $30.00 to $26.00 in a research report on Wednesday, June 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.13.

In related news, Director Alan David Matula bought 6,270 shares of the stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $23.96 per share, for a total transaction of $150,229.20. Following the acquisition, the director now owns 13,220 shares in the company, valued at approximately $316,751.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.43% of the company’s stock.

About American Equity Investment Life Holding Company

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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 Company (NYSE:AEL).

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