Piper Sandler Equities analysts cut earnings estimates for American Equity Investment Life Holding (NYSE:AEL)
American Equity Investment Life Holding (NYSE: AEL – Get a rating) – Piper Sandler analysts cut their estimates for first-quarter 2022 earnings per share for American Equity Investment Life in a report released Tuesday, February 22. Piper Sandler analyst J. Barnidge now expects the financial services provider to post earnings of $0.93 per share for the quarter, down from its previous estimate of $1.09. Piper Sandler has an “overweight” rating and a price target of $46.00 on the stock. Piper Sandler also released American Equity Investment Life earnings estimates for Q2 2022 at $1.02 EPS, Q3 2022 earnings at $1.13 EPS, Q1 2023 earnings at $1.21 EPS, Q2 2023 earnings at $1.28 EPS and full year 2023 earnings at $5.25 EPS. American Equity Investment Life (NYSE: AEL – Get a rating) last reported results on Wednesday, February 16. The financial services provider reported EPS of $0.81 for the quarter, missing the Zacks consensus estimate of $1.05 per ($0.24). American Equity Investment Life had a net margin of 10.79% and a return on equity of 5.87%. During the same period last year, the company earned earnings per share of $0.77.
Several other brokerages have also recently published reports on AEL. Truist Financial raised its price target on American Equity Investment Life from $39.00 to $44.00 and gave the stock a “buy” rating in a Thursday, November 11 research report. Evercore ISI upgraded American Equity Investment Life from an “in-line” rating to an “outperforming” rating and raised its price target for the stock from $34.00 to $46.00 in a Wednesday research report January 5. JPMorgan Chase & Co. raised its price target on American Equity Investment Life from $37.00 to $41.00 in a Tuesday, January 4 research report. Morgan Stanley raised its price target on American Equity Investment Life from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Raymond James raised its price target on American Equity Investment Life from $40.00 to $44.00 and gave the stock an “outperform” rating in a Monday, January 10 research report. Five equity research analysts gave the stock a hold rating and six gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus buy rating and an average price target of $41.83.
Shares of AEL Stock opened at $36.87 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt ratio of 0.09. The company has a 50-day moving average of $40.57 and a two-hundred-day moving average of $35.58. American Equity Investment Life has a 52-week low of $26.21 and a 52-week high of $44.49. The company has a market capitalization of $3.41 billion, a P/E ratio of 10.27 and a beta of 1.15.
A number of large investors have recently changed their stock holdings. Barclays PLC increased its holdings in American Equity Investment Life by 25.1% in the fourth quarter. Barclays PLC now owns 119,571 shares of the financial services provider worth $4,653,000 after buying a further 24,003 shares last quarter. BlackRock Inc. increased its position in American Equity Investment Life shares by 2.5% during the fourth quarter. BlackRock Inc. now owns 13,268,080 shares of the financial services provider valued at $516,392,000 after purchasing an additional 323,823 shares in the last quarter. NewEdge Advisors LLC acquired a new position in American Equity Investment Life in the fourth quarter worth approximately $271,000. Goldman Sachs Group Inc. raised its position in American Equity Investment Life by 1.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider worth $91,777,000 after buying 32,542 additional shares last quarter. Finally, Oliver Luxxe Assets LLC acquired a new position in American Equity Investment Life in the fourth quarter worth approximately $2,131,000. Hedge funds and other institutional investors hold 93.49% of the company’s shares.
In other news, CEO Anant Bhalla sold 10,214 shares of the company in a trade on Tuesday, November 30. The shares were sold at an average price of $29.64, for a total transaction of $302,742.96. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Also, VPE Jeffrey D. Lorenzo sold 20,000 shares of the company in a trade on Friday, January 7. The shares were sold at an average price of $41.10, for a total transaction of $822,000.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 41,108 shares of the company worth $1,582,836. Insiders of the company hold 1.90% of the shares of the company.
About American Equity Investment Life (Get a rating)
American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is based in West Des Moines, IA.
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