American Equity Investment Life Holding (NYSE:AEL) Receives Consensus Rating of “Hold” by Brokerages
American Equity Investment Life Holding (NYSE: AEL – Get a rating) received a consensus rating of “Hold” by the eleven rating agencies that currently cover the company, reports Marketbeat Ratings. Six analysts gave the stock a hold rating and four gave the company a buy rating. The 1-year average price target among analysts who have rated the stock over the past year is $43.60.
Several research companies have recently published reports on AEL. Truist Financial raised its price target on American Equity Investment Life shares from $45.00 to $51.00 and gave the stock a “buy” rating in a Thursday, August 11 research report. Morgan Stanley raised its price target on shares of American Equity Investment Life from $40.00 to $43.00 and gave the stock an “equal weight” rating in a Wednesday, August 17 research report . Raymond James raised its price target on shares of American Equity Investment Life from $40.00 to $48.00 and gave the stock an “outperform” rating in a Monday, August 15 research report. Piper Sandler cut her price target on American Equity Investment Life shares from $44.00 to $41.00 and set an “overweight” rating on the stock in a Friday, July 8 research report. Finally, Credit Suisse Group downgraded shares of American Equity Investment Life from an “outperform” rating to a “neutral” rating and reduced its price target for the stock from $43.00 to 38.00. $ in a Friday, July 22 research report.
Insider Trading at American Equity Investment Life
In other news, EVP Jeffrey D. Lorenzo sold 25,000 shares of American Equity Investment Life in a trade that took place on 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 owns 36,439 shares of the company, valued at approximately $1,457,560. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Company insiders own 1.59% of the company’s shares.
Institutional entries and exits
Several hedge funds and other institutional investors have recently changed their positions in AEL. 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 worth $531,512,000 after purchasing an additional 49,702 shares during the period. Dimensional Fund Advisors LP increased its position in American Equity Investment Life by 2.9% during 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. Macquarie Group Ltd. increased its position in American Equity Investment Life by 1.7% during the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider valued at $192,109,000 after acquiring an additional 85,531 shares last quarter. State Street Corp raised its position 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 acquiring an additional 142,611 shares last quarter. Finally, Clearbridge Investments LLC increased its position in American Equity Investment Life shares by 0.3% in the second quarter. Clearbridge Investments LLC now owns 2,822,498 shares of the financial services provider valued at $103,219,000 after purchasing an additional 7,434 shares during the period. 93.16% of the shares are currently held by institutional investors and hedge funds.
Investing in U.S. Stocks Return on Life Stocks
Shares of AEL opened at $37.64 on Friday. American Equity Investment Life has a one-year low of $27.12 and a one-year high of $44.49. The company has a debt ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. The company has a 50-day moving average price of $37.58 and a 200-day moving average price of $38.03. The company has a market capitalization of $3.30 billion, a price-earnings ratio of 3.18 and a beta of 1.04.
American Equity Investment Life (NYSE: AEL – Get a rating) last released its quarterly earnings data on Monday, August 8. The financial services provider reported earnings per share (EPS) of $0.98 for the quarter, beating the consensus estimate of $0.71 by $0.27. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. The company posted revenue of $121.40 million in the quarter, compared to analyst estimates of $628.20 million. In the same quarter a year earlier, the company earned $0.98 per share. The company’s quarterly revenue was down 88.7% from the same quarter last year. Sell-side analysts expect American Equity Investment Life to post EPS of 3.73 for the current year.
About American Equity Investment Life
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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