American Equity Investment Life Holding (NYSE:AEL – Get Rating) – Investment analysts at Jefferies Financial Group reduced their Q4 2022 EPS estimates for American Equity Investment Life in a research report issued to clients and investors on Wednesday, September 7th. Jefferies Financial Group analyst D. Bergman now anticipates that the financial services provider will post earnings per share of $0.98 for the quarter, down from their prior forecast of $1.01. The consensus estimate for American Equity Investment Life's current full-year earnings is $3.73 per share. Jefferies Financial Group also issued estimates for American Equity Investment Life's Q1 2023 earnings at $1.08 EPS, Q3 2023 earnings at $1.34 EPS, Q4 2023 earnings at $1.39 EPS and FY2024 earnings at $5.80 EPS.
Get American Equity Investment Life alerts:American Equity Investment Life (NYSE:AEL – Get Rating) last announced its earnings results on Monday, August 8th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.27. The business had revenue of $121.40 million for the quarter, compared to the consensus estimate of $628.20 million. American Equity Investment Life had a net margin of 61.05% and a return on equity of 8.22%. American Equity Investment Life's quarterly revenue was down 88.7% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share.
Several other research analysts have also recently issued reports on AEL. Piper Sandler cut their target price on shares of American Equity Investment Life from $44.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. Morgan Stanley lifted their price target on American Equity Investment Life from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 17th. Keefe, Bruyette & Woods lowered American Equity Investment Life from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $43.00 to $41.00 in a research report on Wednesday, July 13th. Evercore ISI lowered shares of American Equity Investment Life from an "outperform" rating to an "in-line" rating and upped their price target for the company from $42.00 to $44.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded American Equity Investment Life from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $43.00 to $38.00 in a research note on Friday, July 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $43.60.American Equity Investment Life Trading Up 1.5 %
AEL stock opened at $37.64 on Friday. The company has a market capitalization of $3.30 billion, a PE ratio of 3.18 and a beta of 1.04. American Equity Investment Life has a one year low of $27.12 and a one year high of $44.49. The company's 50 day moving average price is $37.58 and its two-hundred day moving average price is $38.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16.
Institutional Trading of American Equity Investment Life
Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its stake in shares of American Equity Investment Life by 1,183.3% in the fourth quarter. Point72 Asset Management L.P. now owns 598,010 shares of the financial services provider's stock worth $23,275,000 after acquiring an additional 551,410 shares during the last quarter. abrdn plc acquired a new position in American Equity Investment Life during the second quarter worth $18,792,000. Invesco Ltd. boosted its stake in American Equity Investment Life by 12.0% during the first quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider's stock worth $73,278,000 after buying an additional 196,589 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in American Equity Investment Life by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,903,390 shares of the financial services provider's stock worth $275,512,000 after buying an additional 193,277 shares during the last quarter. Finally, Icon Advisers Inc. Co. acquired a new position in American Equity Investment Life during the first quarter worth $5,883,000. 93.16% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at American Equity Investment Life
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 completion of the transaction, the executive vice president now directly owns 36,439 shares in the company, valued at $1,457,560. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.59% of the company's stock.
American Equity Investment Life Company Profile
(Get Rating)
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.
Further Reading
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