Keefe, Bruyette & Woods cut US equity investment life (NYSE:AEL) to match market performance

American Equity Investment Life (NYSE: AEL – Get a rating) was downgraded by research analysts Keefe, Bruyette & Woods from an “outperform” rating to a “market performance” rating in a report released Wednesday, Fly reports.

A number of other brokerages have also published reports on AEL recently. Morgan Stanley lowered its price target on shares of American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating for the company in a Wednesday, July 6 research report. Evercore ISI lowered 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. StockNews.com cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Credit Suisse Group restated an “outperform” rating and issued a price target of $43.00 on shares of American Equity Investment Life in a Tuesday, June 28 research report. Finally, 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. . Four equity research analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “moderate buy” and an average target price of $42.60.

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Shares of American Equity Investment Life opened at $36.09 on Wednesday. The stock has a market capitalization of $3.36 billion, a P/E ratio of 4.88 and a beta of 1.10. 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 simple moving average of $37.64 and a 200-day simple moving average of $39.05. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49.

American Equity Investment Life (NYSE: AEL – Get a rating) last announced its results on Wednesday, May 4. The financial services provider reported earnings per share (EPS) of $0.92 for the quarter, missing analyst consensus estimates of $0.95 per ($0.03). The company posted revenue of $147.80 million for the quarter, versus analyst estimates of $612.85 million. American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. The company’s revenue for the quarter decreased by 84.6% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $0.43. On average, stock analysts expect American Equity Investment Life to post earnings per share of 3.91 for the current year.

Several hedge funds and other institutional investors have recently changed their holdings in the company. Meritage Investment Management increased its stake in the shares of American Equity Investment Life 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 stake in American Equity Investment Life by 4.3% in the 4th quarter. Profund Advisors LLC now owns 9,211 shares of the financial services provider worth $358,000 after acquiring 378 additional shares in the last quarter. Maryland State Retirement & Pension System increased its stake in American Equity Investment Life by 1.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 32,825 shares of the financial services provider worth $1,278,000 after acquiring 428 additional shares in the last quarter. Byrne Asset Management LLC increased its stake in American Equity Investment Life to 95.9% in Q1. 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. Finally, Mercer Global Advisors Inc. ADV increased its stake in American Equity Investment Life by 3.8% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 13,745 shares of the financial services provider worth $549,000 after acquiring 498 additional shares in the last quarter. 95.15% of the shares are currently held by institutional investors.

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.

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