American Equity Investment Life (NYSE:AEL) downgraded by Credit Suisse Group
American Equity Investment Life (NYSE: AEL – Get a rating) was downgraded by Credit Suisse Group equity researchers from an “outperforming” rating to a “neutral” rating in a report on Friday, Fly reports.
AEL has been the subject of several other reports. Evercore ISI cut its price target on American Equity Investment Life from $44.00 to $42.00 and set an “outperform” rating for the company in a Wednesday, July 6 research report. StockNews.com downgraded American Equity Investment Life from a “buy” to a “hold” rating in a Friday, May 20 research report. Piper Sandler cut her price target on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating for the company in a Friday, July 8 research report. Morgan Stanley cut its price target on American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating for the company in a Wednesday, July 6 research report. Finally, Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperform” rating to a “market performer” rating and reduced their price target for the stock from $43.00 to 41.00. $ in a Wednesday, July 13 research report. Five equity research analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “moderate buy” and a consensus target price of $42.50.
American Equity Investment Life Stock down 0.7%
NYSE: AEL opened at $36.11 on Friday. The company has a debt ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a 50-day simple moving average of $37.56 and a 200-day simple moving average of $38.83. American Equity Investment Life has a one-year low of $27.12 and a one-year high of $44.49. The company has a market capitalization of $3.36 billion, a price-earnings ratio of 4.89 and a beta of 1.10.
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 posted a net margin of 26.35% and a return on equity of 7.26%. The company posted revenue of $147.80 million in the quarter, compared to analyst estimates of $612.85 million. In the same quarter a year earlier, the company earned earnings per share of $0.43. The company’s revenue was down 84.6% year over year. Sell-side analysts expect American Equity Investment Life to post EPS of 3.57 for the current fiscal year.
Institutional entries and exits
Several institutional investors have recently changed their AEL portfolio. Allspring Global Investments Holdings LLC acquired a new stake in American Equity Investment Life during Q4 valued at $12,708,000. Credit Suisse AG increased its equity stake in American Equity Investment Life by 63.3% during the fourth quarter. Credit Suisse AG now owns 117,670 shares of the financial services provider worth $4,580,000 after acquiring an additional 45,595 shares last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of American Equity Investment Life during the first quarter at a value of $65,000. First Trust Advisors LP increased its holdings of American Equity Investment Life shares by 5.7% during the fourth quarter. First Trust Advisors LP now owns 153,928 shares of the financial services provider worth $5,991,000 after acquiring 8,351 additional shares in the last quarter. Finally, Easterly Investment Partners LLC increased its equity stake in American Equity Investment Life by 16.8% during the fourth quarter. Easterly Investment Partners LLC now owns 271,120 shares of the financial services provider worth $10,552,000 after acquiring an additional 39,074 shares in the last quarter. Institutional investors hold 95.15% of the company’s shares.
American Equity Investment Life Insurance Company Profile
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.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in American Equity Investment Life right now?
Before you consider American Equity Investment Life, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes over…and American Equity Investment Life was not on the list.
While American Equity Investment Life currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here