Brandywine Global Investment Management LLC Decreases Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

Brandywine Global Investment Management LLC cut its stake in American Equity Investment Life Holding (NYSE:AEL) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,624 shares of the financial services provider’s stock after selling 8,282 shares during the period. Brandywine Global Investment Management LLC’s holdings in American Equity Investment Life were worth $7,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEL. Fieldpoint Private Securities LLC lifted its position in American Equity Investment Life by 92.1% in the second quarter. Fieldpoint Private Securities LLC now owns 855 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 410 shares during the last quarter. Ameritas Investment Company LLC purchased a new stake in American Equity Investment Life in the first quarter valued at $30,000. Glenmede Trust Co. NA purchased a new stake in American Equity Investment Life in the first quarter valued at $32,000. Accel Wealth Management purchased a new stake in American Equity Investment Life in the second quarter valued at $47,000. Finally, Creative Planning purchased a new stake in American Equity Investment Life in the second quarter valued at $129,000. 93.16% of the stock is owned by hedge funds and other institutional investors.

Shares of AEL opened at $31.83 on Thursday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average is $31.08 and its two-hundred day moving average is $31.36. American Equity Investment Life Holding has a twelve month low of $22.37 and a twelve month high of $33.79. The firm has a market capitalization of $2.94 billion, a P/E ratio of 3.45 and a beta of 1.21.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Thursday, August 5th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.45. American Equity Investment Life had a net margin of 23.38% and a return on equity of 5.30%. The company had revenue of $499.32 million for the quarter, compared to analyst estimates of $483.87 million. Analysts predict that American Equity Investment Life Holding will post 3.17 EPS for the current year.

AEL has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of American Equity Investment Life from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 9th. Zacks Investment Research cut shares of American Equity Investment Life from a “hold” rating to a “strong sell” rating and set a $26.00 target price for the company. in a report on Tuesday, July 20th. Raymond James upped their target price on shares of American Equity Investment Life from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, August 11th. upped their target price on shares of American Equity Investment Life from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, June 21st. Finally, Morgan Stanley upped their target price on shares of American Equity Investment Life from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Equity Investment Life currently has an average rating of “Hold” and a consensus price target of $33.50.

American Equity Investment Life Company Profile

American Equity Investment Life Holding Co engages in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgage loans, agricultural mortgage loans, and residential mortgage loans. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.

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

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