10.1% Stake of American Equity Investment Life Holding Company (AEL) Held by Vanguard Group Inc

Vanguard Group Inc

recently stated that they own a 10.1% stake in American Equity Investment Life Holding Company (NYSE:AEL) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, August 10th. The investor owns 8,934,839 shares of the stock worth about $248,835,266. The disclosure is available through Edgar at this link.

Vanguard Group Inc

provided the following explanation of their ownership:

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Several other large investors have also made changes to their positions in AEL. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of American Equity Investment Life Holding by 11.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock worth $104,000 after buying an additional 414 shares during the last quarter. Elkfork Partners LLC boosted its position in shares of American Equity Investment Life Holding by 11.0% in the first quarter. Elkfork Partners LLC now owns 4,508 shares of the financial services provider’s stock worth $107,000 after buying an additional 448 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of American Equity Investment Life Holding by 11.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,474 shares of the financial services provider’s stock worth $129,000 after buying an additional 544 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of American Equity Investment Life Holding by 90.3% in the second quarter. Meeder Asset Management Inc. now owns 5,115 shares of the financial services provider’s stock worth $134,000 after buying an additional 2,427 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of American Equity Investment Life Holding during the first quarter worth $144,000. 93.25% of the stock is owned by institutional investors and hedge funds.

American Equity Investment Life Holding Company (NYSE:AEL) opened at 27.85 on Thursday. The firm has a market cap of $2.48 billion, a PE ratio of 12.83 and a beta of 2.49. American Equity Investment Life Holding Company has a 52 week low of $15.27 and a 52 week high of $28.32. The firm’s 50 day moving average price is $26.87 and its 200-day moving average price is $25.27.

American Equity Investment Life Holding (NYSE:AEL) last posted its quarterly 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. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The business had revenue of $819.10 million for the quarter, compared to the consensus estimate of $531.83 million. During the same period in the prior year, the business posted $0.60 earnings per share. American Equity Investment Life Holding’s revenue for the quarter was up 49.0% compared to the same quarter last year. On average, analysts forecast that American Equity Investment Life Holding Company will post $2.57 EPS for the current year.

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AEL has been the topic of a number of research analyst reports. TheStreet upgraded American Equity Investment Life Holding from a “c+” rating to a “b” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday. BidaskClub cut American Equity Investment Life Holding from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $28.00 target price on shares of American Equity Investment Life Holding in a report on Monday, May 22nd. Finally, FBR & Co cut American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $30.00 to $26.00 in a report on Wednesday, June 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $25.00.

In other American Equity Investment Life Holding news, Director Alan David Matula bought 6,270 shares of the stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $23.96 per share, with a total value of $150,229.20. Following the completion of the transaction, the director now directly owns 13,220 shares of the company’s stock, valued at approximately $316,751.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.05% of the company’s stock.

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.

Want to see what other hedge funds are holding AEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Equity Investment Life Holding Company (NYSE:AEL).

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

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