American Equity Investment Life (NYSE:AEL) Receives Credit Suisse Group Outperform Rating

American Equity Investment Life (NYSE: AEL – Get a rating)The stock saw its “outperforming” rating reiterated by equity analysts at Credit Suisse Group in a research report delivered to clients and investors on Tuesday, Benzinga reports. They currently have a target price of $43.00 on shares of the financial services provider. Credit Suisse Group’s price target points to a potential upside of 13.43% from the stock’s previous close.

Separately, StockNews.com cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Three investment analysts gave the stock a hold rating and seven gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.60.

Shares of American Equity Investment Life opened at $37.91 on Tuesday. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt ratio of 0.11. The stock has a market capitalization of $3.53 billion, a PE ratio of 5.13 and a beta of 1.09. The company has a fifty-day simple moving average of $38.08 and a 200-day simple moving average of $39.09.

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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 the consensus estimate of $0.95 per ($0.03). The company posted revenue of $147.80 million in the quarter, compared to analyst estimates of $612.85 million. American Equity Investment Life posted a net margin of 26.35% and a return on equity of 7.26%. American Equity Investment Life’s revenue for the quarter decreased 84.6% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $0.43. Analysts expect American Equity Investment Life to post EPS of 3.91 for the current fiscal year.

In related news, EVP Ronald James Grensteiner sold 9,188 shares of the company in a trade on Tuesday, April 12. The shares were sold at an average price of $38.31, for a total transaction of $351,992.28. Following the completion of the transaction, the executive vice president now directly owns 89,039 shares of the company, valued at $3,411,084.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. 1.90% of the shares are held by insiders of the company.

Several hedge funds have recently increased or reduced their holdings in the stock. Byrne Asset Management LLC increased its equity stake in American Equity Investment Life to 95.9% in Q1. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after buying an additional 470 shares last quarter. Strs Ohio bought a new stake in shares of American Equity Investment Life in Q4, valued at around $42,000. Covestor Ltd bought a new position in shares of American Equity Investment Life in the 4th quarter for a value of approximately $61,000. Counterpoint Mutual Funds LLC bought a new stock position in American Equity Investment Life in Q1 for about $65,000. Finally, Meeder Asset Management Inc. bought a new stock position in American Equity Investment Life in Q1 for about $100,000. 95.15% of the shares are held by hedge funds and other institutional investors.

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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