Victory Capital Management Inc. Sells 29,570 Shares of American Equity Investment Life Holding (AEL)

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Victory Capital Management Inc. trimmed its position in shares of American Equity Investment Life Holding (NYSE:AEL) by 2.5% during the first quarter, HoldingsChannel reports. The firm owned 1,152,248 shares of the financial services provider’s stock after selling 29,570 shares during the period. Victory Capital Management Inc.’s holdings in American Equity Investment Life were worth $31,134,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AEL. Morgan Stanley grew its position in shares of American Equity Investment Life by 94.4% in the 3rd quarter. Morgan Stanley now owns 404,335 shares of the financial services provider’s stock valued at $14,297,000 after purchasing an additional 196,299 shares during the period. Federated Investors Inc. PA increased its position in American Equity Investment Life by 33.9% during the 3rd quarter. Federated Investors Inc. PA now owns 70,314 shares of the financial services provider’s stock worth $2,487,000 after buying an additional 17,806 shares during the period. State of Alaska Department of Revenue increased its position in American Equity Investment Life by 1.8% during the 4th quarter. State of Alaska Department of Revenue now owns 30,211 shares of the financial services provider’s stock worth $844,000 after buying an additional 530 shares during the period. Sit Investment Associates Inc. increased its position in American Equity Investment Life by 14.1% during the 4th quarter. Sit Investment Associates Inc. now owns 10,525 shares of the financial services provider’s stock worth $294,000 after buying an additional 1,300 shares during the period. Finally, Meeder Asset Management Inc. increased its position in American Equity Investment Life by 149.7% during the 4th quarter. Meeder Asset Management Inc. now owns 2,629 shares of the financial services provider’s stock worth $74,000 after buying an additional 1,576 shares during the period. 94.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AEL traded down $0.01 during mid-day trading on Friday, reaching $30.17. The company had a trading volume of 2,256 shares, compared to its average volume of 422,070. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.11 and a current ratio of 0.11. American Equity Investment Life Holding has a one year low of $25.27 and a one year high of $38.56. The stock has a market capitalization of $2.69 billion, a P/E ratio of 6.46 and a beta of 2.28.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. American Equity Investment Life had a return on equity of 13.92% and a net margin of 13.62%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $625.65 million. During the same quarter last year, the business earned $0.85 earnings per share. American Equity Investment Life’s revenue was up 741.8% on a year-over-year basis. Equities research analysts forecast that American Equity Investment Life Holding will post 3.91 earnings per share for the current year.

Several research analysts have weighed in on AEL shares. Zacks Investment Research upgraded American Equity Investment Life from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. TheStreet cut American Equity Investment Life from a “b” rating to a “c+” rating in a research report on Thursday, May 2nd. Sandler O’Neill cut American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, ValuEngine cut American Equity Investment Life from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. American Equity Investment Life has a consensus rating of “Hold” and a consensus price target of $35.75.

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American Equity Investment Life Profile

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

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

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