American Equity Investment Life (NYSE:AEL) Downgraded to In-Line at Evercore ISI


Evercore ISI has downgraded the shares of Investment in American Life stocks (NYSE:AELGet a rating) from an outperformance rating to an online rating in a report released on Monday, Market assessments reports. They currently have a price target of $44.00 on shares of the financial services provider, up from their previous price target of $42.00. Analysts noted that the move was a valuation call.

Other research analysts have also recently published research reports on the stock. Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an outperform rating to a market performance rating and reduced their price target for the company from $43.00 to $41.00 in a report of Wednesday July 13. 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 note. Credit Suisse Group downgraded American Equity Investment Life from an Outperform rating to a Neutral rating and lowered its price target for the company from $43.00 to $38.00 in a Friday, July 22 research note. Truist Financial raised its price target on American Equity Investment Life from $45.00 to $51.00 and gave the stock a Buy rating in a Thursday, August 11 research report. Finally, Piper Sandler cut her price target on American Equity Investment Life shares from $44.00 to $41.00 and set an overweight rating for the company in a Friday, July 8 research note. Six research analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $43.30.

Life Price Performance of US Equity Investments

ALE opened at $41.54 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt ratio of 0.15. American Equity Investment Life has a 1 year minimum of $27.12 and a 1 year maximum of $44.49. The stock has a fifty-day moving average price of $37.32 and a 200-day moving average price of $38.40. The stock has a market capitalization of $3.64 billion, a price-earnings ratio of 3.51 and a beta of 1.06.

Investment in American Life stocks (NYSE:AELGet a rating) last announced its quarterly results 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 achieved a return on equity of 8.22% and a net margin of 61.05%. The company posted revenue of $121.40 million in the quarter, compared to analyst estimates of $628.20 million. During the same period of the previous year, the company achieved EPS of $0.98. The company’s revenue was down 88.7% year over year. Analysts expect American Equity Investment Life to post EPS of 3.71 for the current fiscal year.

Insider Activity at American Equity Investment Life

In other news from American Equity Investment Life, EVP Jeffrey D. Lorenzo sold 25,000 shares of the company in a transaction that took place on Tuesday, August 9. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the sale, 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, available via this hyperlink. Company insiders own 1.59% of the company’s shares.

Institutional U.S. Equity Trading Investment Life

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in the shares of American Equity Investment Life during Q2 for a value of approximately $29,000. Byrne Asset Management LLC increased its stake in American Equity Investment Life shares to 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after acquiring an additional 470 shares in the last quarter. CoreCap Advisors LLC acquired a new stock position in American Equity Investment Life in Q2 for a value of approximately $38,000. Covestor Ltd acquired a new stake in American Equity Investment Life during the 4th quarter for a value of approximately $61,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in American Equity Investment Life during the 1st quarter for a value of $65,000. Institutional investors hold 95.15% 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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