American Equity Investment Life Holding (NYSE:AEL) Receives Average “Buy” Recommendation From Brokerages
American Equity Investment Life Holding (NYSE:AEL) received an average rating of “Buy” from the twelve rating agencies that currently cover the company, Marketbeat.com reports. Four research analysts rated the stock with a hold rating and six assigned the company a buy rating. The 12-month average target price among analysts who have reported on the stock over the past year is $41.58.
Several research companies have recently published reports on AEL. Evercore ISI upgraded American Equity Investment Life from an “in-line” rating to an “outperforming” rating and raised its target price for the company from $34.00 to $46.00 in a Wednesday, January 5, report. Jefferies Financial Group began covering American Equity Investment Life in a report on Tuesday. They issued a “hold” rating and a target price of $42.00 for the company. Truist Financial raised its price target on American Equity Investment Life from $39.00 to $44.00 and gave the company a “buy” rating in a Thursday, November 11 report. JPMorgan Chase & Co. raised its price target on American Equity Investment Life from $37.00 to $41.00 in a Tuesday, January 4, report. Finally, Royal Bank of Canada raised its price target on American Equity Investment Life from $41.00 to $47.00 and gave the company an “outperform” rating in a Wednesday, January 12, report.
Shares of AEL opened at $39.89 on Friday. The company has a debt ratio of 0.09, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a 50-day moving average price of $38.50 and a 200-day moving average price of $34.29. The company has a market capitalization of $3.69 billion, a P/E ratio of 11.11 and a beta of 1.22. American Equity Investment Life has a 52-week low of $26.21 and a 52-week high of $43.80.
American Equity Investment Life (NYSE:AEL) last released its results on Monday, November 8. The financial services provider reported earnings per share (EPS) of $1.46 for the quarter, beating the consensus estimate of $0.76 by $0.70. The company posted revenue of $542.56 million in the quarter, compared to analyst estimates of $578.71 million. American Equity Investment Life posted a return on equity of 5.87% and a net margin of 10.79%. American Equity Investment Life’s quarterly revenue was down 32.1% year over year. In the same period a year earlier, the company posted earnings per share of $0.99. On average, stock analysts expect American Equity Investment Life to post earnings per share of 3.92 for the current year.
The company also recently announced an annual dividend, which was paid on Monday, December 13. Shareholders of record on Monday, November 29 received a dividend of $0.34 per share. This represents a return of 0.97%. The ex-dividend date was Friday, November 26. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.18. American Equity Investment Life’s payout ratio is currently 9.47%.
In other news, Executive Vice President Ronald James Grensteiner sold 10,894 shares of the company in a trade dated Thursday, January 20. The stock was sold at an average price of $42.05, for a total transaction of $458,092.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Also, VPE Jeffrey D. Lorenzen sold 20,000 shares of the company in a transaction that took place on Friday, January 7. The stock was sold at an average price of $41.10, for a total value of $822,000.00. Disclosure of this sale can be found here. Insiders sold a total of 41,108 shares of the company valued at $1,582,836 in the past ninety days. Insiders hold 1.90% of the shares of the company.
A number of hedge funds have recently changed their positions in AEL. First Trust Advisors LP increased its position in American Equity Investment Life by 35.4% in the first quarter. First Trust Advisors LP now owns 93,246 shares of the financial services provider valued at $2,520,000 after buying an additional 24,396 shares in the last quarter. Citigroup Inc. increased its position in American Equity Investment Life by 118.1% in the second quarter. Citigroup Inc. now owns 65,540 shares of the financial services provider valued at $2,119,000 after buying 35,487 additional shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in American Equity Investment Life in the second quarter, valued at approximately $273,000. Ergoteles LLC increased its holdings of American Equity Investment Life shares by 117.4% during the second quarter. Ergoteles LLC now owns 33,200 shares of the financial services provider valued at $1,073,000 after acquiring an additional 17,930 shares last quarter. Finally, Bank of Montreal Can increased its equity stake in American Equity Investment Life by 18.1% during the second quarter. Bank of Montreal Can now owns 29,884 shares of the financial services provider valued at $1,002,000 after acquiring an additional 4,572 shares last quarter. Hedge funds and other institutional investors own 93.37% of the company’s shares.
American Equity Investment Life Insurance Company Profile
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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