American Equity Investment Life (NYSE:AEL) coverage initiated by StockNews.com analysts
StockNews.com assumed hedging on the shares of American Equity Investment Life (NYSE: AEL – Get a rating) in a research note published Thursday. The brokerage has set a “hold” rating on the shares of the financial services provider.
A number of other brokerages have also weighed in on AEL recently. Piper Sandler upgraded shares of American Equity Investment Life from a “neutral” rating to an “overweight” rating and raised her price target for the company from $36.00 to $46.00 in a report from the Wednesday, January 5. Zacks Investment Research downgraded shares of American Equity Investment Life from a “strong buy” rating to a “hold” rating and set a price target of $42.00 for the company. in a report on Tuesday, January 4. Morgan Stanley raised its price target on shares of American Equity Investment Life from $40.00 to $41.00 and gave the stock an “equal weight” rating in a Tuesday, February 22 report. Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from a “market performance” rating to an “outperform” rating and set a price target of $42.00 for the company in a Wednesday, December 1 report. Finally, Raymond James raised its price target on American Equity Investment Life shares from $40.00 to $44.00 and gave the stock an “outperform” rating in a Monday, January 10, report. Five equity research analysts gave the stock a hold rating and six gave the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $41.83.
NYSE:AEL opened at $39.38 on Thursday. American Equity Investment Life has a 1 year minimum of $27.12 and a 1 year maximum of $44.49. The company’s fifty-day simple moving average is $39.80 and its 200-day simple moving average is $36.74. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt ratio of 0.09. The company has a market capitalization of $3.82 billion, a PE ratio of 8.67 and a beta of 1.14.
American Equity Investment Life (NYSE: AEL – Get a rating) last released its quarterly results on Thursday, February 17. The financial services provider reported earnings per share of $1.04 for the quarter, missing analyst consensus estimates 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, versus a consensus estimate of $506.04 million. During the same period last year, the company earned earnings per share of $0.77. As a group, analysts expect American Equity Investment Life to post EPS of 4.29 for the current fiscal year.
In other news, Executive Vice President Jeffrey D. Lorenzen sold 20,000 shares of American Equity Investment Life in a trade that took place on Friday, January 7. The shares were sold at an average price of $41.10, for a total transaction of $822,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Additionally, Director Joyce Ann Chapman sold 3,856 shares of American Equity Investment Life in a trade that took place on Wednesday, March 9. The stock was sold at an average price of $38.26, for a total transaction of $147,530.56. Disclosure of this sale can be found here. Insiders sold a total of 50,713 shares of the company worth $2,040,124 in the past 90 days. Company insiders own 1.90% of the company’s shares.
A number of hedge funds and other institutional investors have recently shifted their AEL holdings. First Trust Advisors LP increased its holdings 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 purchasing an additional 24,396 shares during the period. Morgan Stanley increased its holdings in American Equity Investment Life by 19.6% in the second quarter. Morgan Stanley now owns 394,595 shares of the financial services provider valued at $12,754,000 after purchasing an additional 64,764 shares during the period. Exchange Traded Concepts LLC increased its holdings in American Equity Investment Life by 12.9% during the third quarter. Exchange Traded Concepts LLC now owns 21,325 shares of the financial services provider valued at $631,000 after purchasing an additional 2,444 shares during the period. Lineweaver Wealth Advisors LLC bought a new position in American Equity Investment Life in the third quarter, valued at approximately $203,000. Finally, Meritage Investment Management bought a new position in American Equity Investment Life in the third quarter worth approximately $206,000. Hedge funds and other institutional investors hold 93.49% of the company’s shares.
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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