Shares of American Equity Investment Life Holding (NYSE:AEL – Get Rating) have received an average rating of "Hold" from the eleven research firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $43.60.
Several research analysts have issued reports on AEL shares. Raymond James raised their target price on American Equity Investment Life from $40.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 15th. Keefe, Bruyette & Woods cut American Equity Investment Life from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $43.00 to $41.00 in a research report on Wednesday, July 13th. Evercore ISI cut American Equity Investment Life from an "outperform" rating to an "in-line" rating and raised their target price for the stock from $42.00 to $44.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. Piper Sandler dropped their target price on American Equity Investment Life from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, July 8th. Finally, Credit Suisse Group cut American Equity Investment Life from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $43.00 to $38.00 in a research report on Friday, July 22nd.
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Insider Activity
In related news, EVP Jeffrey D. Lorenzen sold 25,000 shares of American Equity Investment Life stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the sale, the executive vice president now owns 36,439 shares of the company's stock, valued at approximately $1,457,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.59% of the company's stock.
Institutional Trading of American Equity Investment Life
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in American Equity Investment Life by 1,051.3% during the 1st quarter. SG Americas Securities LLC now owns 34,941 shares of the financial services provider's stock valued at $1,394,000 after purchasing an additional 31,906 shares during the period. Credit Suisse AG increased its stake in American Equity Investment Life by 63.3% in the 4th quarter. Credit Suisse AG now owns 117,670 shares of the financial services provider's stock worth $4,580,000 after acquiring an additional 45,595 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in American Equity Investment Life in the 1st quarter worth approximately $65,000. Profund Advisors LLC increased its stake in American Equity Investment Life by 24.2% in the 1st quarter. Profund Advisors LLC now owns 11,441 shares of the financial services provider's stock worth $457,000 after acquiring an additional 2,230 shares during the last quarter. Finally, Zacks Investment Management bought a new stake in American Equity Investment Life in the 4th quarter worth approximately $2,708,000. Institutional investors own 93.16% of the company's stock.
American Equity Investment Life Price Performance
NYSE AEL opened at $40.40 on Wednesday. American Equity Investment Life has a one year low of $29.87 and a one year high of $44.49. The stock has a 50-day moving average of $38.15 and a 200 day moving average of $37.97. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 3.42 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16.
American Equity Investment Life (NYSE:AEL – Get Rating) last released its quarterly earnings data on Monday, August 8th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.79 by $0.19. American Equity Investment Life had a return on equity of 8.22% and a net margin of 61.05%. The company had revenue of $121.40 million during the quarter, compared to the consensus estimate of $628.20 million. During the same period last year, the company earned $0.98 EPS. American Equity Investment Life's revenue for the quarter was down 88.7% on a year-over-year basis. On average, sell-side analysts forecast that American Equity Investment Life will post 3.78 EPS for the current year.
About American Equity Investment Life
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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.
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