American Equity Investment Life Holding (NYSE:AEL) Receives Average “Moderate Buy” Rating from Brokerages

Shares of American Equity Investment Life Holding (NYSE:AEL – Get a rating) received an average “moderate buy” recommendation from the ten brokerages that cover the business, MarketBeat reports. Three research analysts gave the stock a hold rating and six gave the company a buy rating. The 12-month average price target among brokers who updated their coverage on the stock in the past year is $43.67.

Separately, StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20.

In other news, EVP Ronald James Grensteiner sold 9,188 shares of American Equity Investment Life in a trade on Tuesday, April 12. The stock was sold at an average price of $38.31, for a total transaction of $351,992.28. Following the completion of the sale, the executive vice president now directly owns 89,039 shares of the company, valued at $3,411,084.09. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. 1.90% of the shares are currently held by insiders of the company.

Several hedge funds have recently increased or reduced their holdings in the stock. BlackRock Inc. increased its holdings of American Equity Investment Life shares by 0.4% in the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider valued at $531,512,000 after acquiring an additional 49,702 shares last quarter. Dimensional Fund Advisors LP increased its holdings of American Equity Investment Life shares by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,903,390 shares of the financial services provider valued at $275,512,000 after acquiring an additional 193,277 shares in the last quarter. State Street Corp increased its stake in American Equity Investment Life by 4.7% in the first quarter. State Street Corp now owns 3,189,994 shares of the financial services provider valued at $127,313,000 after buying an additional 142,611 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in American Equity Investment Life by 1.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider valued at $91,777,000 after buying an additional 32,542 shares in the last quarter. Finally, Invesco Ltd. increased its stake in American Equity Investment Life by 12.0% in the first 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 in the last quarter. Hedge funds and other institutional investors own 95.15% of the company’s shares.

NYSE:AEL shares opened at $37.55 on Monday. The company’s 50-day moving average price is $38.10 and its 200-day moving average price is $39.08. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt ratio of 0.11. The stock has a market capitalization of $3.49 billion, a PE ratio of 5.08 and a beta of 1.09.

American Equity Investment Life (NYSE: AEL – Get a rating) last reported results on Wednesday, May 4. The financial services provider reported EPS of $0.92 for the quarter, missing analyst consensus estimates of $0.95 per ($0.03). American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. The company posted revenue of $147.80 million for the quarter, versus a consensus estimate of $612.85 million. In the same quarter a year earlier, the company posted EPS of $0.43. American Equity Investment Life’s revenue was down 84.6% year over year. Analysts expect American Equity Investment Life to post earnings per share of 3.91 for the current fiscal year.

American Equity Investment Life Insurance Company Profile (Get a rating)

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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