Jeffrey D. Lorenzen sells 25,000 shares of American Equity Investment Life Holding (NYSE:AEL)


Investment in American shares Life Holding (NYSE:AELGet a rating) Executive Vice President Jeffrey D. Lorenzen sold 25,000 shares in a trade on Tuesday, August 9. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the sale, the executive vice president now owns 36,439 shares of the company, valued at $1,457,560. The sale was disclosed in an SEC filing, available at this link.

Life Price Performance of US Equity Investments

Shares of NYSE:AEL opened at $42.29 on Friday. The company’s 50-day moving average is $37.32 and its two-hundred-day moving average is $38.41. American Equity Investment Life Holding has a 52-week low of $27.12 and a 52-week high of $44.49. The company has a market capitalization of $3.94 billion, a P/E ratio of 3.58 and a beta of 1.06. The company has a current ratio of 0.16, a quick ratio of 0.17 and a debt ratio of 0.15.

Investment in American Life equities (NYSE:AELGet a rating) last released its results 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. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. The company posted revenue of $121.40 million in the quarter, compared to $628.20 million expected by analysts. During the same period last year, the company posted earnings per share of $0.98. The company’s revenue for the quarter was down 88.7% from the same quarter last year. Analysts expect American Equity Investment Life Holding to post earnings per share of 3.55 for the current year.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their stakes in the company. Lazard Asset Management LLC bought a new stock position in American Equity Investment Life during Q2 for a value of approximately $29,000. Byrne Asset Management LLC increased its stake in American Equity Investment Life shares to 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider worth $38,000 after acquiring an additional 470 shares in the last quarter. CoreCap Advisors LLC bought a new stock position in American Equity Investment Life in the second quarter for about $38,000. Covestor Ltd purchased a new stake in shares of American Equity Investment Life during the fourth quarter for a value of approximately $61,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in American Equity Investment Life in the first quarter, valued at approximately $65,000. Institutional investors hold 95.15% of the company’s shares.

Analyst upgrades and downgrades

Several analysts have recently released reports on the company. Morgan Stanley lowered its price target on American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating for the company in a Wednesday, July 6 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. Evercore ISI cut its price target on American Equity Investment Life shares from $44.00 to $42.00 and set an “outperform” rating for the company in a Wednesday, July 6 research report. Piper Sandler lowered her price target on American Equity Investment Life shares from $44.00 to $41.00 and set an “overweight” rating for the company in a Friday, July 8 research report. Finally, Truist Financial raised its price target on American Equity Investment Life shares from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday. Five research analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

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.

Further reading



Get news and reviews for American Equity Investment Life Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst notes for American Equity Investment Life and related companies with MarketBeat.com’s FREE daily email newsletter.

Comments are closed.