Analysts Issue Third Quarter 2022 Earnings Forecast for American Equity Investment Life Holding (NYSE:AEL)

American Equity Investment Life Holding (NYSE: AEL – Get a rating) – Equity analysts at Jefferies Financial Group raised their third-quarter 2022 earnings per share (EPS) estimates for American Equity Investment Life in a research note released to investors on Wednesday, September 7. Jefferies Financial Group analyst D. Bergman now expects the financial services provider to post earnings of $0.76 per share for the quarter, up from its previous estimate of $0.71. The consensus estimate of American Equity Investment Life’s current annual earnings is $3.78 per share. Jefferies Financial Group also released estimates for American Equity Investment Life’s fiscal year 2022 earnings at $3.65 EPS and fiscal year 2026 earnings at $7.25 EPS.

AEL has been the subject of a number of other reports. Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperforming” rating to a “market performance” rating and lowered their target price for the stock from $43.00 to $41.00 in a Wednesday, July 13 research report. StockNews.com upgraded American Equity Investment Life from a “buy” to a “hold” rating in a Friday, May 20 research note. Piper Sandler cut her price target on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating on the stock in a Friday, July 8 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 note. Finally, Credit Suisse Group downgraded American Equity Investment Life from an “outperforming” rating to a “neutral” rating and lowered its price target for the stock from $43.00 to $38.00 in a rating of Friday, July 22 research. Six research analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, American Equity Investment Life currently has a consensus rating of “Hold” and a consensus price target of $43.60.

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NYSE:AEL opened at $37.64 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt ratio of 0.15. The company has a market capitalization of $3.30 billion, a P/E ratio of 3.18 and a beta of 1.04. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The company’s 50-day moving average is $37.58 and its 200-day moving average is $38.04.

American Equity Investment Life (NYSE: AEL – Get a rating) last released its results on Monday, August 8. The financial services provider reported EPS of $0.98 for the quarter, beating analyst consensus estimates of $0.71 by $0.27. The company posted revenue of $121.40 million for the quarter, versus a consensus estimate of $628.20 million. American Equity Investment Life achieved a return on equity of 8.22% and a net margin of 61.05%. The company’s revenue for the quarter was down 88.7% year over year. In the same period a year earlier, the company had earned earnings per share of $0.98.

Institutional U.S. Equity Trading Investment Life

A number of large investors have recently changed their holdings in the company. Castleview Partners LLC increased its holdings of American Equity Investment Life shares by 282.0% in the second quarter. Castleview Partners LLC now owns 382 shares of the financial services provider valued at $53,000 after purchasing an additional 282 shares during the period. Congress Asset Management Co. MA increased its holdings of American Equity Investment Life shares 0.8% in the second quarter. Congress Asset Management Co. MA now owns 43,859 shares of the financial services provider valued at $1,604,000 after buying 330 additional shares during the period. Byrne Asset Management LLC increased its holdings of American Equity Investment Life shares by 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after purchasing an additional 470 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings of American Equity Investment Life shares by 3.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 13,745 shares of the financial services provider valued at $549,000 after purchasing an additional 498 shares during the period. Finally, Covestor Ltd increased its stake in American Equity Investment Life by 38.9% during the first quarter. Covestor Ltd now owns 2,180 shares of the financial services provider worth $87,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors hold 93.16% of the company’s shares.

Insider activity

In other news, 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 transaction of $1,000,000.00. Following the transaction, the executive vice president now owns 36,439 shares of the company, valued at $1,457,560. The transaction was disclosed in a legal filing with the SEC, available at this link. Insiders own 1.59% of the shares of the company.

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.

Further reading

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

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