American Equity Investment Life (NYSE:AEL) downgraded by StockNews.com to Hold

American Equity Investment Life (NYSE: AEL – Get a rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other equity research analysts have also published reports on AEL. Morgan Stanley raised its price target on American Equity Investment Life from $40.00 to $41.00 and gave the stock an “equal weight” rating in a Tuesday, February 22 research report. Zacks Investment Research upgraded American Equity Investment Life from a “sell” rating to a “hold” rating and set a price target of $37.00 for the company in a Tuesday, May 10 report. Finally, Jefferies Financial Group began covering American Equity Investment Life in a report on Tuesday, January 25. They issued a “hold” rating and a target price of $42.00 for the company. Five equity research analysts gave the stock a hold rating and six gave the stock a buy rating. According to MarketBeat, American Equity Investment Life currently has a consensus buy rating and a consensus target price of $42.18.

NYSE AEL shares opened at $36.97 on Friday. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The company has a market capitalization of $3.44 billion, a price/earnings ratio of 5.00 and a beta of 1.10. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt ratio of 0.11. The company has a 50-day simple moving average of $38.30 and a 200-day simple moving average of $38.42.

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American Equity Investment Life (NYSE: AEL – Get a rating) last announced its quarterly results on Wednesday, May 4. The financial services provider reported earnings per share (EPS) of $0.92 for the quarter, missing analyst consensus estimates of $0.95 per ($0.03). The company posted revenue of $147.80 million for the quarter, versus analyst estimates of $612.85 million. American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. The company’s revenue decreased by 84.6% compared to the same quarter last year. During the same quarter last year, the company posted EPS of $0.43. As a group, stock analysts predict American Equity Investment Life will post earnings per share of 4.06 for the current year.

In other news from American Equity Investment Life, Director Joyce Ann Chapman sold 3,856 shares of the company in a trade on Wednesday, March 9. The stock was sold at an average price of $38.26, for a total value of $147,530.56. The sale was disclosed in an SEC filing, available at this link. Also, VPE Ronald James Grensteiner sold 9,188 shares of the company in a trade on Tuesday, April 12. The stock was sold at an average price of $38.31, for a total value of $351,992.28. Following the transaction, the executive vice president now directly owns 89,039 shares of the company, valued at $3,411,084.09. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 29,007 shares of the company worth $1,112,023. Company insiders own 1.90% of the company’s shares.

Hedge funds and other institutional investors have recently changed their positions in the company. First Trust Advisors LP increased its stake in American Equity Investment Life by 35.4% during the first quarter. First Trust Advisors LP now owns 93,246 shares of the financial services provider valued at $2,520,000 after acquiring an additional 24,396 shares during the period. Morgan Stanley increased its holdings of American Equity Investment Life shares by 19.6% in the second quarter. Morgan Stanley now owns 394,595 shares of the financial services provider worth $12,754,000 after purchasing an additional 64,764 shares during the period. Truist Financial Corp bought a new stock position in American Equity Investment Life in the third quarter worth $204,000. Barclays PLC increased its equity stake in American Equity Investment Life by 55.1% in the third quarter. Barclays PLC now owns 95,568 shares of the financial services provider worth $2,825,000 after buying an additional 33,969 shares during the period. Finally, Teacher Retirement System of Texas increased its holding in shares of American Equity Investment Life by 15.2% in the third quarter. Teacher Retirement System of Texas now owns 13,891 shares of the financial services provider worth $411,000 after purchasing an additional 1,834 shares during the period. Hedge funds and other institutional investors hold 95.15% of the company’s shares.

About American Equity Investment Life (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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Analyst Recommendations for American Equity Investment Life (NYSE:AEL)

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