Jefferies Financial Group analysts cut earnings estimates for American Equity Investment Life Holding (NYSE:AEL)

American Equity Investment Life Holding (NYSE: AEL – Get a rating) – Research analysts at Jefferies Financial Group lowered their fourth-quarter 2022 EPS estimates for American Equity Investment Life in a report released Wednesday, September 7. Jefferies Financial Group analyst D. Bergman now expects the financial services provider to post earnings per share of $0.98 for the quarter, down from its previous forecast of 1.01. $. The consensus estimate of American Equity Investment Life’s current annual earnings is $3.73 per share. Jefferies Financial Group also released estimates for American Equity Investment Life Q1 2023 earnings at $1.08 EPS, Q3 2023 earnings at $1.34 EPS, Q4 2023 earnings at $1.39 EPS and FY2024 earnings at $5.80 EPS.

A number of other equity research analysts have also recently commented on the company. Raymond James raised its price target on American Equity Investment Life from $40.00 to $48.00 and gave the company an “outperform” rating in a Monday, August 15 report. Truist Financial raised its price target on American Equity Investment Life from $45.00 to $51.00 and gave the company a “buy” rating in a Thursday, August 11 report. Credit Suisse Group downgraded American Equity Investment Life from an “outperform” rating to a “neutral” rating and lowered its price target for the company from $43.00 to $38.00 in a Friday 22 report. July. Piper Sandler lowered its price target on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating for the company in a Friday, July 8 report. To finish, StockNews.com upgraded American Equity Investment Life from a “buy” to a “hold” rating in a Friday, May 20, report. Six equity research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.60.

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NYSE: AEL opened at $37.10 on Friday. The company’s fifty-day moving average price is $37.57 and its 200-day moving average price is $38.02. American Equity Investment Life has a 1 year minimum of $27.12 and a 1 year maximum of $44.49. The company has a debt ratio of 0.15, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $3.25 billion, a price-earnings ratio of 3.14 and a beta of 1.04.

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

Insiders place their bets

In other news from American Equity Investment Life, 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 value of $1,000,000.00. Following the completion of the transaction, the executive vice president now owns 36,439 shares of the company, valued at approximately $1,457,560. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. 1.59% of the shares are held by insiders of the company.

Hedge funds weigh on the life of US stock investments

Institutional investors have recently changed their positions in the company. Castleview Partners LLC increased its position in American Equity Investment Life shares by 282.0% in the second quarter. Castleview Partners LLC now owns 382 shares of the financial services provider worth $53,000 after buying an additional 282 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in the shares of American Equity Investment Life during Q2 valued at approximately $29,000. Byrne Asset Management LLC raised its position in American Equity Investment Life shares by 95.9% during the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after acquiring an additional 470 shares last quarter. CoreCap Advisors LLC acquired a new stake in shares of American Equity Investment Life during Q2 valued at approximately $38,000. Finally, Covestor Ltd acquired a new equity stake in American Equity Investment Life during Q4 valued at approximately $61,000. 93.16% 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.

See also

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

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