Public Employees Retirement System of Ohio Cuts Stock Holdings in American Equity Investment Life Holding (NYSE:AEL)

Public Employees Retirement System of Ohio lessened its stake in shares of American Equity Investment Life Holding (NYSE:AEL - Free Report) by 96.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,838 shares of the financial services provider's stock after selling 46,762 shares during the period. Public Employees Retirement System of Ohio's holdings in American Equity Investment Life were worth $99,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Captrust Financial Advisors raised its stake in American Equity Investment Life by 3.4% in the fourth quarter. Captrust Financial Advisors now owns 14,663 shares of the financial services provider's stock valued at $669,000 after buying an additional 483 shares during the period. Paulson Wealth Management Inc. raised its stake in American Equity Investment Life by 10.8% in the third quarter. Paulson Wealth Management Inc. now owns 5,650 shares of the financial services provider's stock valued at $303,000 after buying an additional 551 shares during the period. NBC Securities Inc. bought a new stake in American Equity Investment Life in the third quarter valued at approximately $30,000. Covestor Ltd raised its stake in American Equity Investment Life by 38.9% in the first quarter. Covestor Ltd now owns 2,180 shares of the financial services provider's stock valued at $87,000 after buying an additional 610 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new stake in American Equity Investment Life in the fourth quarter valued at approximately $29,000. Institutional investors own 94.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AEL. StockNews.com began coverage on American Equity Investment Life in a research note on Monday, March 11th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods increased their target price on American Equity Investment Life from $55.00 to $56.00 and gave the stock a "market perform" rating in a research note on Friday, February 16th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, American Equity Investment Life currently has an average rating of "Hold" and an average target price of $50.00.

American Equity Investment Life Price Performance

NYSE:AEL traded up $0.02 during trading hours on Friday, reaching $56.22. 419,877 shares of the company were exchanged, compared to its average volume of 532,455. The company has a market capitalization of $4.46 billion, a P/E ratio of 26.27 and a beta of 0.79. American Equity Investment Life Holding has a 1-year low of $35.22 and a 1-year high of $56.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50 day moving average of $55.62 and a 200 day moving average of $54.88.

American Equity Investment Life (NYSE:AEL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.24. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $673.53 million. American Equity Investment Life had a return on equity of 25.15% and a net margin of 7.42%. The firm's quarterly revenue was up 61.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. Research analysts forecast that American Equity Investment Life Holding will post 7.11 EPS for the current year.

About American Equity Investment Life

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.