American Equity Investment Life (NYSE:AEL) shares widen after pace of earnings

American Equity Investment Life Holding (NYSE: AEL – Get a rating) The stock price widened ahead of Tuesday’s market open after a better-than-expected earnings announcement. The stock had previously closed at $36.24, but opened at $37.95. American Equity Investment Life shares last traded at $39.49, with a volume of 4,330 shares traded.

The financial services provider reported earnings per share (EPS) of $0.98 for the quarter, beating the consensus estimate of $0.79 by $0.19. American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. The company posted revenue of $121.40 million for the quarter, compared to $628.20 million expected by analysts. In the same quarter a year earlier, the company earned $0.98 per share. American Equity Investment Life’s revenues were down 88.7% from the same quarter last year.

Wall Street analysts predict growth

AEL has been the subject of several analyst reports. Morgan Stanley lowered its target price on shares of 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. Evercore ISI cut its price target on American Equity Investment Life from $44.00 to $42.00 and set an “outperform” rating on the stock in a Wednesday July 6 research note. Piper Sandler lowered its 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 report. Keefe, Bruyette & Woods downgraded 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 Wednesday, July 13 research report. To finish, StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research note. Five investment analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, American Equity Investment Life has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional U.S. Equity Trading Investment Life

A d Weiss Ratings

The Fed Can’t Save Us This Time

The US economy is collapsing and there is NOTHING Fed Chairman Jerome Powell can do to stop it. Today, Dr. Martin Weiss reveals 7 simple steps you can take to protect your wealth from the greatest crisis of our lifetime. Act now before it’s too late.

Institutional investors have recently been buying and selling shares of the stock. SG Americas Securities LLC increased its stake in American Equity Investment Life by 1,051.3% in the 1st quarter. SG Americas Securities LLC now owns 34,941 shares of the financial services provider worth $1,394,000 after acquiring 31,906 additional shares last quarter. 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 purchasing an additional 45,595 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in American Equity Investment Life in the first quarter worth $65,000. First Trust Advisors LP increased its position in American Equity Investment Life 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 buying an additional 8,351 shares in the last quarter. Finally, Easterly Investment Partners LLC increased its stake in American Equity Investment Life by 16.8% in the 4th quarter. Easterly Investment Partners LLC now owns 271,120 shares of the financial services provider worth $10,552,000 after buying an additional 39,074 shares in the last quarter. 95.15% of the shares are currently held by institutional investors.

American Equity Investment Life Stock up 9.0%

The company has a 50-day moving average price of $37.19 and a two-hundred-day moving average price of $38.34. The company has a market capitalization of $3.67 billion, a price-earnings ratio of 5.39 and a beta of 1.06. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt ratio of 0.11.

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.

Featured articles

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]

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.

Although American Equity Investment Life currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.