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American Equity Investment Life (NYSE:AEL – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
AEL has been the topic of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of American Equity Investment Life from $41.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, January 12th. Jefferies Financial Group began coverage on shares of American Equity Investment Life in a research report on Tuesday, January 25th. They issued a “hold” rating and a $42.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of American Equity Investment Life from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 22nd. Finally, Zacks Investment Research upgraded shares of American Equity Investment Life from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $42.18.
Shares of NYSE:AEL opened at $34.02 on Thursday. The stock has a market cap of $3.17 billion, a PE ratio of 4.60 and a beta of 1.10. The company’s fifty day moving average is $38.44 and its 200 day moving average is $38.31. American Equity Investment Life has a 52 week low of $27.12 and a 52 week high of $44.49. The company has a quick ratio of 0.20, a current ratio of 0.17 and a debt-to-equity ratio of 0.11.
American Equity Investment Life (NYSE:AEL – Get Rating) last issued its earnings results on Wednesday, May 4th. The financial services provider reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. American Equity Investment Life had a net margin of 26.35% and a return on equity of 7.26%. The company had revenue of $147.80 million for the quarter, compared to analysts’ expectations of $612.85 million. During the same quarter last year, the company earned $0.43 EPS. The firm’s revenue was down 84.6% compared to the same quarter last year. Sell-side analysts anticipate that American Equity Investment Life will post 4.24 EPS for the current year.
In related news, EVP Ronald James Grensteiner sold 15,963 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $38.37, for a total transaction of $612,500.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joyce Ann Chapman sold 3,856 shares of the business’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $38.26, for a total transaction of $147,530.56. The disclosure for this sale can be found here. Insiders have sold 29,007 shares of company stock worth $1,112,023 in the last three months. 1.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings in shares of American Equity Investment Life by 1.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,688 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 363 shares during the last quarter. Meritage Portfolio Management raised its holdings in shares of American Equity Investment Life by 5.4% during the fourth quarter. Meritage Portfolio Management now owns 7,347 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 376 shares during the last quarter. Profund Advisors LLC raised its holdings in shares of American Equity Investment Life by 4.3% during the fourth quarter. Profund Advisors LLC now owns 9,211 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 378 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of American Equity Investment Life by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 115,426 shares of the financial services provider’s stock valued at $4,492,000 after purchasing an additional 426 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of American Equity Investment Life by 1.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 32,825 shares of the financial services provider’s stock valued at $1,278,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 95.15% 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.
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