Fourth Quarter 2022 Earnings Forecast for American Equity Investment Life Holding (NYSE:AEL) Released by Jefferies Financial Group
American Equity Investment Life Holding (NYSE: AEL – Get a rating) – Analysts at Jefferies Financial Group dropped their fourth-quarter 2022 EPS estimates for American Equity Investment Life in a research report released Tuesday, July 12. Jefferies Financial Group analyst D. Bergman now expects the financial services provider to post earnings of $1.01 per share for the quarter, down from its previous forecast of 1.19. $. The consensus estimate of American Equity Investment Life’s current annual earnings is $3.72 per share. Jefferies Financial Group also released estimates for American Equity Investment Life Q1 2023 earnings at $1.11 EPS and full-year 2023 earnings at $5.05 EPS. American Equity Investment Life (NYSE: AEL – Get a rating) last released its quarterly earnings data on Wednesday, May 4. The financial services provider reported earnings per share of $0.92 for the quarter, missing analyst consensus estimates 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. During the same period of the previous year, the company achieved EPS of $0.43. The company’s quarterly revenue was down 84.6% year over year.
Other analysts have also released reports on the company. StockNews.com downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20. Evercore ISI cut its price target on American Equity Investment Life from $44.00 to $42.00 and set an “outperform” rating for the company in a Wednesday, July 6 research report. Credit Suisse Group reiterated an “outperform” rating and set a price target of $43.00 for shares of American Equity Investment Life in a Tuesday, June 28 research report. Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperform” rating to a “market performer” rating and reduced their price target for the stock from $43.00 to $41.00 in a research report Wednesday. Finally, Piper Sandler lowered 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 report. Four investment analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.
NYSE AEL shares opened at $33.83 on Friday. American Equity Investment Life has a 1 year minimum of $27.12 and a 1 year maximum of $44.49. The company has a market capitalization of $3.15 billion, a price-earnings ratio of 4.58 and a beta of 1.10. The company has a debt ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50-day simple moving average is $37.48 and its 200-day simple moving average is $38.96.
A number of large investors have recently increased or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of American Equity Investment Life by 0.4% in the 1st quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider valued at $531,512,000 after buying an additional 49,702 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of American Equity Investment Life shares by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,903,390 shares of the financial services provider valued at $275,512,000 after purchasing an additional 193,277 shares in the last quarter. State Street Corp increased its stake in American Equity Investment Life shares by 4.7% in the 1st quarter. State Street Corp now owns 3,189,994 shares of the financial services provider valued at $127,313,000 after buying an additional 142,611 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings of American Equity Investment Life shares by 1.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider valued at $91,777,000 after buying 32,542 additional shares in the last quarter. Finally, Invesco Ltd. increased its holding in shares of American Equity Investment Life by 12.0% during the 1st quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider valued at $73,278,000 after purchasing an additional 196,589 shares in the last quarter. 95.15% of the shares are currently held by institutional investors.
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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