Analyst cut Q1 2022 EPS estimates for American Equity Investment Life Holding (NYSE:AEL)

American Equity Investment Life Holding (NYSE: AEL – Get a rating) – Analysts at Jefferies Financial Group cut their first-quarter 2022 earnings estimates for shares of American Equity Investment Life in a research note released Monday, March 14. Jefferies Financial Group analyst D. Bergman now expects the financial services provider to post earnings per share of $0.95 for the quarter, down from its previous forecast of $1.11. Jefferies Financial Group currently has a “Hold” rating and a target price of $42.00 on the stock. Jefferies Financial Group also released estimates for American Equity Investment Life Q2 2022 earnings at $1.05 EPS, Q3 2022 earnings at $1.15 EPS, Q4 2022 earnings at $1.21 EPS , FY2022 earnings at $4.35 EPS, Q1 2023 earnings at $1.26 EPS, Q2 2023 earnings at $1.29 EPS, Q3 2023 earnings at $1.33 EPS, Q4 2023 earnings at $1.37 EPS, FY2023 earnings at $5.25 EPS, FY2024 earnings at $5.85 EPS, FY2025 earnings at $6.55 EPS and FY2026 earnings at $7.35 EPS.

A number of other research analysts have also recently published 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 Monday, January 10 report. Zacks Investment Research cut American Equity Investment Life from a “strong buy” rating to a “hold” rating and set a price target of $42.00 for the company. in a report on Tuesday, January 4. Morgan Stanley raised its price target on American Equity Investment Life from $40.00 to $41.00 and gave the company an “equal weight” rating in a Tuesday, February 22 report. Keefe, Bruyette & Woods upgraded American Equity Investment Life from a “market performer” rating to an “outperformer” rating and set a price target of $42.00 for the company in a report Wednesday, May 1. December. Finally, JPMorgan Chase & Co. raised its price target on American Equity Investment Life from $37.00 to $41.00 in a Tuesday, January 4 research report. Four investment analysts gave the stock a hold rating and six gave the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $41.83.

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NYSE:AEL opened at $40.09 on Thursday. American Equity Investment Life has a 1 year minimum of $27.12 and a 1 year maximum of $44.49. The company’s 50-day moving average price is $40.30 and its two-hundred-day moving average price is $36.12. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt ratio of 0.09. The company has a market capitalization of $3.89 billion, a price-earnings ratio of 8.83 and a beta of 1.14. American Equity Investment Life (NYSE: AEL – Get a rating) last reported results on Thursday, February 17. The financial services provider reported EPS of $1.04 for the quarter, missing analyst consensus estimates of $1.05 per ($0.01). The company posted revenue of $514.60 million in the quarter, compared to analyst estimates of $506.04 million. American Equity Investment Life posted a net margin of 12.85% and a return on equity of 6.27%. In the same quarter a year earlier, the company posted earnings per share of $0.77.

Hedge funds and other institutional investors have recently changed their positions in the company. BlackRock Inc. increased its stake in shares of American Equity Investment Life by 2.5% during 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. River Road Asset Management LLC increased its stake in American Equity Investment Life by 43.7% in the third quarter. River Road Asset Management LLC now owns 5,321,184 shares of the financial services provider valued at $157,347,000 after purchasing an additional 1,617,859 shares last quarter. State Street Corp increased its stake in American Equity Investment Life by 1.7% in the fourth quarter. State Street Corp now owns 3,047,383 shares of the financial services provider valued at $118,604,000 after buying an additional 49,812 shares last quarter. Goldman Sachs Group Inc. increased its position in American Equity Investment Life shares by 1.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider valued at $91,777,000 after purchasing an additional 32,542 shares during the period. Finally, Lakewood Capital Management LP increased its position in American Equity Investment Life shares by 8.5% in the fourth quarter. Lakewood Capital Management LP now owns 1,726,177 shares of the financial services provider valued at $67,183,000 after purchasing an additional 135,227 shares during the period. Hedge funds and other institutional investors hold 93.49% of the company’s shares.

In related news, Executive Vice President Jeffrey D. Lorenzen sold 20,000 shares of the company in a trade that took place on Friday, January 7. The shares were sold at an average price of $41.10, for a total value of $822,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, director Joyce Ann Chapman sold 3,856 shares of the company in a trade on Wednesday, March 9. The shares were sold at an average price of $38.26, for a total transaction of $147,530.56. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 50,713 shares of the company worth $2,040,124. Insiders hold 1.90% of the shares of the company.

American Equity Investment Life Insurance Company Profile (Get a rating)

American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is based in West Des Moines, IA.

Further reading

Earnings history and estimates for American Equity Investment Life (NYSE:AEL)

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