Analysts set American Equity Investment Life Holding (NYSE:AEL) price target at $42.64


Investment in American shares Life Holding (NYSE:AELGet a rating) was given an average “Buy” rating by the twelve research companies that cover the business, Market Beat Ratings reports. Five research analysts rated the stock with a hold recommendation and six gave the company a buy recommendation. The 1-year average price target among analysts who have rated the stock in the past year is $42.64.

A number of research analysts have 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 company an “outperform” rating in a Monday, Jan. 10 research note. JPMorgan Chase & Co. raised its price target on American Equity Investment Life from $37.00 to $41.00 in a research note on Tuesday, January 4. Jefferies Financial Group took over coverage from American Equity Investment Life in a Tuesday, Jan. 25, research note. They have set a “holding” rating and a price target of $42.00 on the stock. Piper Sandler upgraded American Equity Investment Life from a “neutral” rating to an “overweight” rating and raised its price target for the company from $36.00 to $46.00 in a Wednesday, Jan. 5 research note . To finish, StockNews.com began covering shares of American Equity Investment Life in a report on Thursday, March 31. They set a “holding” rating for the company.

ALE opened at $39.14 on Wednesday. The stock has a market capitalization of $3.79 billion, a PE ratio of 8.62 and a beta of 1.13. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt ratio of 0.09. American Equity Investment Life has a 52-week low of $27.12 and a 52-week high of $44.49. The company’s 50-day simple moving average is $39.23 and its 200-day simple moving average is $37.53.

Investment in American Life stocks (NYSE:AELGet a rating) last reported results on Thursday, February 17. The financial services provider reported EPS of $1.04 for the quarter, missing the Zacks consensus estimate of $1.05 per ($0.01). American Equity Investment Life posted a net margin of 12.85% and a return on equity of 6.27%. The company posted revenue of $514.60 million in the quarter, versus a consensus estimate of $506.04 million. During the same period of the previous year, the company achieved EPS of $0.77. As a group, stock analysts expect American Equity Investment Life to post earnings per share of 4.26 for the current year.

In other news from American Equity Investment Life, EVP Ronald James Grensteiner sold 9,188 shares of the company in a transaction that took place 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 owns 89,039 shares of the company, valued at $3,411,084.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, director Joyce Ann Chapman sold 3,856 shares of the company in a trade that took place 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. Insiders sold 39,901 shares of the company valued at $1,570,116 in the past 90 days. 1.90% of the shares are currently held by insiders of the company.

Hedge funds and other institutional investors have recently changed their positions in the company. River Road Asset Management LLC increased its position in American Equity Investment Life shares by 43.7% during 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 acquiring an additional 1,617,859 shares last quarter. Norges Bank purchased a new stake in shares of American Equity Investment Life during the fourth quarter, valued at approximately $34,065,000. West Bancorporation Inc. purchased a new stake in shares of American Equity Investment Life during the fourth quarter valued at approximately $22,212,000. Point72 Asset Management LP increased its position in American Equity Investment Life shares by 1,183.3% during the fourth quarter. Point72 Asset Management LP now owns 598,010 shares of the financial services provider valued at $23,275,000 after acquiring an additional 551,410 shares last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of American Equity Investment Life during the fourth quarter, valued at approximately $12,708,000. 93.49% of the shares are held by institutional investors and hedge funds.

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.

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Analyst Recommendations for American Equity Investment Life (NYSE:AEL)



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