Credit Suisse Group reiterates “outperform” rating for American Equity Investment Life (NYSE:AEL)


Credit Suisse Group has reiterated its outperformance rating on the shares of Investment in American Life stocks (NYSE:AELGet a rating) in a report released Tuesday morning, Marketbeat.com reports. Credit Suisse Group currently has a target price of $43.00 on shares of the financial services provider.

Separately, StockNews.com downgraded shares of American Equity Investment Life from a buy rating to a hold rating in a Friday, May 20 research rating. Three investment analysts gave the stock a hold rating and seven gave the company a buy rating. Based on data from MarketBeat.com, American Equity Investment Life has an average moderate buy rating and an average target price of $43.60.

Shares of ALE opened at $38.03 on Tuesday. The company has a market capitalization of $3.54 billion, a price-earnings ratio of 5.15 and a beta of 1.09. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt ratio of 0.11. The company has a 50-day moving average of $38.03 and a 200-day moving average of $39.08.

Investment in American Life stocks (NYSE:AELGet a rating) last announced its results on Wednesday, May 4. The financial services provider reported earnings per share of $0.92 for the quarter, missing the consensus estimate of $0.95 per ($0.03). American Equity Investment Life posted a net margin of 26.35% and a return on equity of 7.26%. The company posted revenue of $147.80 million in the quarter, compared to analyst estimates of $612.85 million. In the same quarter last year, the company earned $0.43 per share. American Equity Investment Life’s revenue was down 84.6% year over year. On average, sell-side analysts expect American Equity Investment Life to post EPS of 3.91 for the current year.

In related news, EVP Ronald James Grensteiner sold 9,188 shares of the company in a transaction dated Tuesday, April 12. The shares were sold at an average price of $38.31, for a total transaction of $351,992.28. Following the transaction, the executive vice president now directly owns 89,039 shares of the company, valued at $3,411,084.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Insiders hold 1.90% of the shares of the company.

A number of large investors have recently bought and sold shares of AEL. Exchange Traded Concepts LLC increased its stake in American Equity Investment Life by 1.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 21,688 shares of the financial services provider worth $844,000 after buying 363 additional shares during the period. Meritage Investment Management increased its position in American Equity Investment Life shares by 5.4% in the 4th quarter. Meritage Investment Management now owns 7,347 shares of the financial services provider valued at $286,000 after buying 376 additional shares in the last quarter. Profund Advisors LLC increased its position in American Equity Investment Life shares by 4.3% in the fourth quarter. Profund Advisors LLC now owns 9,211 shares of the financial services provider valued at $358,000 after buying 378 additional shares in the last quarter. Maryland State Retirement & Pension System increased its position in American Equity Investment Life shares by 1.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 32,825 shares of the financial services provider valued at $1,278,000 after buying 428 additional shares in the last quarter. Finally, Byrne Asset Management LLC increased its position in American Equity Investment Life shares by 95.9% in the 1st quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after buying an additional 470 shares in the last quarter. Institutional investors hold 95.15% of the company’s shares.

About American Equity Investment Life (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.

See also

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



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