American Equity Investment Life (NYSE:AEL) Reports Quarterly Results
Investment in American Life stocks (NYSE:AEL – Get a rating) announced its financial results on Wednesday. The financial services provider reported earnings per share (EPS) of $0.92 for the quarter, meeting Zacks’ consensus estimate of $0.92, MarketWatch Earnings reports. American Equity Investment Life posted a return on equity of 6.27% and a net margin of 12.85%. The company posted revenue of $147.80 million for the quarter, versus analyst estimates of $612.85 million. During the same period of the previous year, the company made earnings per share of $0.43. The company’s revenue for the quarter decreased 84.6% compared to the same quarter last year.
ALE opened at $38.06 on Thursday. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The stock has a market capitalization of $3.69 billion, a PE ratio of 8.38 and a beta of 1.10. The company’s 50-day moving average is $38.72 and its 200-day moving average is $38.24. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt ratio of 0.09.
A number of analysts have recently released reports on the company. Raymond James raised its price target on American Equity Investment Life from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, January 10. Piper Sandler upgraded American Equity Investment Life from a “neutral” rating to an “overweight” rating and raised its price target for the stock from $36.00 to $46.00 in a Wednesday 5 research note. january. Royal Bank of Canada raised its price target on American Equity Investment Life from $41.00 to $47.00 and gave the stock an “outperform” rating in a Wednesday, Jan. 12 research note. 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, Feb. 22 research note. Finally, Jefferies Financial Group began covering American Equity Investment Life in a research note on Tuesday, January 25. They issued a “holding” rating and a price target 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.com, American Equity Investment Life currently has a consensus buy rating and a consensus target price of $42.64.
In related news, director Joyce Ann Chapman sold 3,856 shares of the company 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. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. Also, VPE Ronald James Grensteiner sold 9,188 shares of the company in a transaction that took place 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 sale, the executive vice president now directly owns 89,039 shares of the company, valued at approximately $3,411,084.09. Disclosure of this sale can be found here. In the past three months, insiders have sold 29,007 shares of the company worth $1,112,023. 1.90% of the shares are held by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AEL. BlackRock Inc. increased its holdings of American Equity Investment Life shares by 2.5% in the fourth quarter. BlackRock Inc. now owns 13,268,080 shares of the financial services provider valued at $516,392,000 after buying an additional 323,823 shares last quarter. Parametric Portfolio Associates LLC increased its holdings of American Equity Investment Life shares by 15.8% in the fourth quarter. Parametric Portfolio Associates LLC now owns 804,872 shares of the financial services provider valued at $31,326,000 after purchasing an additional 109,898 shares last quarter. Millennium Management LLC increased its equity stake in American Equity Investment Life by 28.1% in the fourth quarter. Millennium Management LLC now owns 383,367 shares of the financial services provider valued at $14,921,000 after purchasing an additional 84,168 shares last quarter. Morgan Stanley increased its position in American Equity Investment Life by 19.6% during the second quarter. Morgan Stanley now owns 394,595 shares of the financial services provider worth $12,754,000 after buying an additional 64,764 shares last quarter. Finally, the Tennessee State Treasury Department increased its position in American Equity Investment Life by 32.0% during the fourth quarter. The Tennessee State Treasury Department now owns 82,420 shares of the financial services provider worth $3,207,000 after purchasing an additional 19,968 shares last quarter. 95.15% of the shares are currently held by institutional investors.
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.
Get news and reviews for American Equity Investment Life Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst notes for American Equity Investment Life and related companies with MarketBeat.com’s FREE daily email newsletter.