Zacks Investment Research upgraded shares of American Equity Investment Life Holding Company (NYSE:AEL) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $31.00 price target on the financial services provider’s stock.
According to Zacks, “American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full service underwriter of a broad line of annuity and insurance products, with a primary emphasis on the sale of fixed rate and index annuities. “
A number of other analysts have also recently weighed in on the stock. TheStreet raised shares of American Equity Investment Life Holding from a c+ rating to a b rating in a report on Thursday, August 3rd. Royal Bank Of Canada raised their price objective on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an outperform rating in a report on Friday, August 4th. BidaskClub cut shares of American Equity Investment Life Holding from a strong-buy rating to a buy rating in a report on Monday, July 31st. FBR & Co cut shares of American Equity Investment Life Holding from an outperform rating to a market perform rating and cut their price objective for the stock from $30.00 to $26.00 in a report on Wednesday, June 7th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of American Equity Investment Life Holding in a report on Wednesday, April 26th. They set a market perform rating and a $26.00 price objective on the stock. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. American Equity Investment Life Holding currently has a consensus rating of Hold and a consensus price target of $25.00.
Shares of American Equity Investment Life Holding (NYSE:AEL) opened at 27.42 on Tuesday. The stock has a market cap of $2.44 billion, a P/E ratio of 12.63 and a beta of 2.49. The firm’s 50-day moving average is $26.95 and its 200 day moving average is $25.28. American Equity Investment Life Holding has a 52-week low of $15.27 and a 52-week high of $28.32.
American Equity Investment Life Holding (NYSE:AEL) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $819.10 million for the quarter, compared to analysts’ expectations of $531.83 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. Analysts forecast that American Equity Investment Life Holding will post $2.57 earnings per share for the current fiscal year.
In other American Equity Investment Life Holding news, Director Alan David Matula bought 6,270 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average cost of $23.96 per share, with a total value of $150,229.20. Following the acquisition, 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 this hyperlink. Insiders own 4.05% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank boosted its position in shares of American Equity Investment Life Holding by 1.8% in the second quarter. Amalgamated Bank now owns 11,832 shares of the financial services provider’s stock worth $311,000 after buying an additional 211 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of American Equity Investment Life Holding by 9.8% in the second quarter. Nationwide Fund Advisors now owns 366,782 shares of the financial services provider’s stock worth $9,639,000 after buying an additional 32,691 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of American Equity Investment Life Holding by 5.8% in the second quarter. Teachers Advisors LLC now owns 1,090,015 shares of the financial services provider’s stock worth $28,646,000 after buying an additional 60,127 shares during the last quarter. WBI Investments Inc. acquired a new position in shares of American Equity Investment Life Holding during the second quarter worth approximately $1,428,000. Finally, Riverhead Capital Management LLC boosted its position in shares of American Equity Investment Life Holding by 79.5% in the second quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock worth $132,000 after buying an additional 2,226 shares during the last quarter. 93.25% of the stock is currently owned by institutional investors and hedge funds.
American Equity Investment Life Holding Company Profile
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.
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