Swiss National Bank Trims Holdings in American Equity Investment Life

The Swiss National Bank has reduced its investment in American Equity Investment Life Holding Company (NYSE:AEL), a notable financial services provider in the United States. During the third quarter, the Swiss National Bank decreased its stake in the company by 7.2%, selling off 10,600 shares. After this adjustment, the Swiss bank's investment portfolio included 137,000 shares of American Equity Investment Life, with their value estimated at approximately $7.35 million at the close of the reporting period.

Other Investors' Moves

Actions taken by other large investors have been observed alongside the Swiss National Bank's adjustment. Covestor Ltd increased its position in American Equity Investment Life by 12.6% during the second quarter, while Metropolitan Life Insurance Co NY raised its stake by 8.3%. EverSource Wealth Advisors LLC witnessed a significant spike of 69.6% in their holdings, and Captrust Financial Advisors bolstered their stake by 3.4% in the fourth quarter. Additionally, Mitsubishi UFJ Trust & Banking Corp initiated a new position in the company's shares. Collectively, hedge funds and institutional investors have a sizeable control of 94.98% of American Equity Investment Life's stock.

Analyst Ratings and Company Performance

Separate from these investment adjustments, analysts have been monitoring American Equity Investment Life's stock with interest. StockNews.com recently commenced coverage, assigning a 'hold' rating. Currently, the consensus among seven investment analysts is a 'Hold' rating for the stock, with an average target price of $48.67.

In terms of stock performance, American Equity Investment Life's shares witnessed a slight dip of 0.3% on the opening of Friday's market, with shares trading at $55.37. The company's market capitalization stands at $4.38 billion, and it has been performing with a price-to-earnings (P/E) ratio of 7.06. The stock's performance has been stable with an average price above $55 spanning over the past 50 to 200 days.

The firm reported strong quarterly earnings results on February 14th, surpassing analyst estimates with earnings per share (EPS) of $1.99, in comparison to the predicted $1.75. Their reported revenue of $1.06 billion significantly exceeded the expected $673.53 million. These results represent a major year-over-year improvement.

Company Profile

American Equity Investment Life Holding specializes in life insurance products, including fixed index and rate annuities, alongside single premium immediate annuities. The company distributes its products through various channels such as independent marketing organizations, broker/dealers, banks, and registered investment advisors, ensuring wide reach and accessibility.

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