American Equity Investment Life Holding (NYSE:AEL) Receives Analysts’ Medium “Holding” Recommendation

Shares of American Equity Investment Life Holding (NYSE:AEL – Get a rating) received a consensus rating of “Hold” by the eleven analysts who currently cover the company, Marketbeat reports. Six investment analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 1-year average price target among analysts who have covered the stock over the past year is $43.30.

Several equity research analysts have weighed in on the company recently. Truist Financial raised its price target on American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a Thursday, August 11 report. Piper Sandler cut her price target on American Equity Investment Life shares from $44.00 to $41.00 and set an “overweight” rating for the company in a Friday, July 8 research note. StockNews.com cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20. Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperforming” rating to a “market performance” rating and lowered their price target for the stock from $43.00 to $41.00 in a research note from Wednesday, July 13. Finally, Raymond James raised its price target on American Equity Investment Life from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday.

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Shares of American Equity Investment Life opened at $41.54 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a leverage ratio of 0.15. The company has a market capitalization of $3.64 billion, a P/E ratio of 3.51 and a beta of 1.06. The company’s 50-day moving average is $37.32 and its two-hundred-day moving average is $38.40. American Equity Investment Life has a 52-week low of $27.12 and a 52-week high of $44.49.

American Equity Investment Life (NYSE: AEL – Get a rating) last announced its results on Monday, August 8. The financial services provider reported earnings per share (EPS) of $0.98 for the quarter, beating analyst consensus estimates of $0.71 by $0.27. The company posted revenue of $121.40 million for the quarter, versus analyst estimates of $628.20 million. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. The company’s revenue for the quarter decreased 88.7% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.98. Research analysts expect American Equity Investment Life to post EPS of 3.71 for the current fiscal year.

Insider activity

In other news, EVP Jeffrey D. Lorenzo sold 25,000 shares of the company in a transaction dated Tuesday, August 9. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the transaction, the executive vice president now directly owns 36,439 shares of the company, valued at approximately $1,457,560. The transaction was disclosed in a legal filing with the SEC, available at this link. Insiders of the company own 1.59% of the shares of the company.

Institutional entries and exits

A number of hedge funds have recently changed their positions in the stock. West Bancorporation Inc. acquired a new stake in American Equity Investment Life during the 4th quarter at a value of $22,212,000. Point72 Asset Management LP increased its stake in American Equity Investment Life by 1,183.3% during the 4th quarter. Point72 Asset Management LP now owns 598,010 shares of the financial services provider valued at $23,275,000 after acquiring an additional 551,410 shares last quarter. abrdn plc acquired a new position in shares of American Equity Investment Life in Q2, valued at approximately $18,792,000. Invesco Ltd. increased its stake in American Equity Investment Life by 12.0% in the 1st quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider valued at $73,278,000 after purchasing an additional 196,589 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in American Equity Investment Life shares by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,903,390 shares of the financial services provider valued at $275,512,000 after buying an additional 193,277 shares last quarter. Institutional investors and hedge funds own 95.15% of the company’s shares.

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 index and fixed 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 advisers.

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Analyst Recommendations for American Equity Investment Life (NYSE:AEL)

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