Oppenheimer Asset Management Inc. Acquires 197 Shares of American Equity Investment Life Holding Company (AEL)

Oppenheimer Asset Management Inc. raised its stake in American Equity Investment Life Holding Company (NYSE:AEL) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,576 shares of the financial services provider’s stock after acquiring an additional 197 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.07% of American Equity Investment Life Holding worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of American Equity Investment Life Holding by 39,171.4% in the first quarter. BlackRock Inc. now owns 8,551,338 shares of the financial services provider’s stock worth $202,068,000 after buying an additional 8,529,563 shares during the period. Snow Capital Management LP raised its stake in American Equity Investment Life Holding by 273.7% during the 1st quarter. Snow Capital Management LP now owns 1,987,654 shares of the financial services provider’s stock valued at $46,968,000 after purchasing an additional 1,455,819 shares during the period. Vanguard Group Inc. grew its holdings in American Equity Investment Life Holding by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 8,373,032 shares of the financial services provider’s stock valued at $197,855,000 after buying an additional 600,302 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of American Equity Investment Life Holding by 68.6% in the 1st quarter. Bank of America Corp DE now owns 1,363,485 shares of the financial services provider’s stock worth $32,219,000 after purchasing an additional 554,672 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of American Equity Investment Life Holding by 33.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,258,753 shares of the financial services provider’s stock worth $33,080,000 after purchasing an additional 313,332 shares during the period. 93.37% of the stock is currently owned by institutional investors.

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AEL has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued a “buy” rating and set a $28.00 price target on shares of American Equity Investment Life Holding in a research note on Monday, May 22nd. BidaskClub raised American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. ValuEngine raised American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. FBR & Co lowered American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $30.00 to $26.00 in a research note on Wednesday, June 7th. Finally, Zacks Investment Research lowered American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. American Equity Investment Life Holding has an average rating of “Buy” and a consensus target price of $25.25.

American Equity Investment Life Holding Company (NYSE:AEL) traded down 0.11% during mid-day trading on Friday, reaching $27.26. The company’s stock had a trading volume of 164,870 shares. The stock’s 50 day moving average is $27.48 and its 200 day moving average is $25.67. American Equity Investment Life Holding Company has a one year low of $15.39 and a one year high of $28.64. The firm has a market cap of $2.42 billion, a PE ratio of 12.56 and a beta of 2.50.

American Equity Investment Life Holding (NYSE:AEL) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.12. The firm had revenue of $819.10 million during the quarter, compared to analysts’ expectations of $531.83 million. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts anticipate that American Equity Investment Life Holding Company will post $2.63 EPS for the current year.

About American Equity Investment Life Holding

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.

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

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