American Equity Investment Life Holding (NYSE:AEL) given the average “buy” recommendation by brokerages
American Equity Investment Life Holding (NYSE: AEL – Get a rating) received a consensus “Buy” recommendation from the twelve brokerages that currently cover the stock, Marketbeat.com reports. Four research analysts rated the stock with a hold recommendation and six gave the company a buy recommendation. The average 1-year target price among analysts who updated their coverage of the stock in the past year is $41.83.
A number of equity research analysts commented on the stock. Keefe, Bruyette & Woods upgraded American Equity Investment Life shares from a “market performance” rating to an “outperform” rating and set a price target of $42.00 on the stock in a research report from Wednesday, December 1. Jefferies Financial Group began covering shares of American Equity Investment Life in a report on Tuesday, January 25. They set a “hold” rating and a target price of $42.00 for the company. Royal Bank of Canada raised its price target on American Equity Investment Life shares from $41.00 to $47.00 and gave the stock an “outperform” rating in a Wednesday, January 12 report. . Zacks Investment Research cut shares of American Equity Investment Life from a “strong buy” rating to a “hold” rating and set a target price of $42.00 for the stock. in a research report on Tuesday, January 4. Finally, Morgan Stanley raised its price target on American Equity Investment Life shares from $40.00 to $41.00 and gave the stock an “equal weight” rating in a Tuesday research report. February 22.
Separately, Executive Vice President Jeffrey D. Lorenzen sold 20,000 shares of the company in a transaction dated Friday, January 7. The stock was sold at an average price of $41.10, for a total transaction of $822,000.00. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, VPE Ronald James Grensteiner sold 15,963 shares in a trade that took place on Monday, March 14. The shares were sold at an average price of $38.37, for a total value of $612,500.31. Disclosure of this sale can be found here. Last quarter, insiders sold 50,713 shares of the company worth $2,040,124. 1.90% of the shares are held by insiders of the company.
A number of large investors have recently changed their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in American Equity Investment Life during Q4 valued at $27,000. Strs Ohio bought a new stock position in American Equity Investment Life in Q4, valued at around $42,000. Signaturefd LLC increased its stake in American Equity Investment Life by 205.4% in the third quarter. Signaturefd LLC now owns 1,655 shares of the financial services provider worth $49,000 after buying 1,113 additional shares in the last quarter. Covestor Ltd bought a new position in shares of American Equity Investment Life during the fourth quarter for a value of approximately $61,000. Finally, Denali Advisors LLC acquired a new position in American Equity Investment Life during the third quarter worth approximately $83,000. Institutional investors hold 93.49% of the company’s shares.
NYSE:AEL shares opened at $39.75 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt ratio of 0.09. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The company has a market capitalization of $3.85 billion, a price-earnings ratio of 8.76 and a beta of 1.14. The company has a 50-day moving average price of $40.21 and a 200-day moving average price of $36.26.
American Equity Investment Life (NYSE: AEL – Get a rating) last announced its results on Thursday, February 17. The financial services provider reported earnings per share of $1.04 for the quarter, missing Thomson Reuters’ consensus estimate of $1.05 per ($0.01). American Equity Investment Life posted a net margin of 12.85% and a return on equity of 6.27%. The company posted revenue of $514.60 million in the quarter, compared to analyst estimates of $506.04 million. In the same quarter last year, the company earned earnings per share of $0.77. As a group, equity analysts expect American Equity Investment Life to post EPS of 4.29 for the current year.
American Equity Investment Life Insurance Company Profile (Get a rating)
American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is based in West Des Moines, IA.
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