American Equity Investment Life Holding (NYSE:AEL) EVP James Louis Hamalainen Sells 68,915 Shares

American Equity Investment Life Holding (NYSE:AEL) EVP James Louis Hamalainen sold 68,915 shares of American Equity Investment Life stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $54.03, for a total value of $3,723,477.45. Following the completion of the sale, the executive vice president now directly owns 19,216 shares in the company, valued at $1,038,240.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

James Louis Hamalainen also recently made the following trade(s):

• On Thursday, August 10th, James Louis Hamalainen sold 16,248 shares of American Equity Investment Life stock. The stock was sold at an average price of $53.32, for a total transaction of $866,343.36.

American Equity Investment Life Stock Up 0.2 %

AEL stock traded up $0.10 during trading on Monday, reaching $54.07. 464,217 shares of the company traded hands, compared to its average volume of 681,347. The business has a 50 day simple moving average of $53.52 and a 200 day simple moving average of $44.76. American Equity Investment Life Holding has a 12 month low of $28.05 and a 12 month high of $54.44. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 9.97 and a beta of 0.96.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Monday, August 7th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.03). The company had revenue of $851.60 million for the quarter, compared to analyst estimates of $646.06 million. American Equity Investment Life had a net margin of 18.55% and a return on equity of 15.52%. The business’s revenue was up 600.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. On average, equities research analysts anticipate that American Equity Investment Life Holding will post 6.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AEL. StockNews.com initiated coverage on American Equity Investment Life in a research report on Sunday. They set a “hold” rating on the stock. Truist Financial cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating and boosted their price objective for the company from $49.00 to $55.00 in a research report on Friday, July 14th. Raymond James lowered shares of American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, June 28th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of American Equity Investment Life in a report on Tuesday, August 8th. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.38.

Hedge Funds Weigh In On American Equity Investment Life

Several institutional investors have recently made changes to their positions in AEL. Barclays PLC increased its stake in shares of American Equity Investment Life by 5,908.2% during the fourth quarter. Barclays PLC now owns 1,793,691 shares of the financial services provider’s stock worth $81,829,000 after purchasing an additional 1,763,837 shares in the last quarter. Norges Bank acquired a new stake in shares of American Equity Investment Life in the fourth quarter worth approximately $35,057,000. Morgan Stanley increased its position in shares of American Equity Investment Life by 30.2% during the fourth quarter. Morgan Stanley now owns 1,407,083 shares of the financial services provider’s stock worth $64,191,000 after purchasing an additional 326,412 shares in the last quarter. JPMorgan Chase & Co. boosted its position in American Equity Investment Life by 178.5% during the fourth quarter. JPMorgan Chase & Co. now owns 413,919 shares of the financial services provider’s stock worth $18,883,000 after acquiring an additional 265,291 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of American Equity Investment Life by 712.7% in the first quarter. Envestnet Asset Management Inc. now owns 300,922 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 263,893 shares during the last quarter. 94.98% of the stock is owned by hedge funds and other institutional investors.

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.