Piper Sandler lowers American Equity Investment Life (NYSE:AEL) price target to $41.00


Investment in American Life stocks (NYSE:AELGet a rating) had its price target lowered by Piper Sandler research analysts from $44.00 to $41.00 in a research note released Friday to investors, Fly reports. The company currently has an “overweight” rating on shares of the financial services provider. Piper Sandler’s price target would suggest a potential upside of 12.05% from the company’s current price.

Several other stock analysts have also published reports on AEL. Credit Suisse Group restated an “outperform” rating and issued a target price of $43.00 on shares of American Equity Investment Life in a Tuesday, June 28 report. Evercore ISI lowered its price target on American Equity Investment Life shares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report released Wednesday. StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20. Finally, Morgan Stanley lowered its target price on shares of American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report released Wednesday. Three equity research analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat, American Equity Investment Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.60.

Shares of Investing in American stocks Life stocks opened at $36.59 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt ratio of 0.11. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The stock has a market capitalization of $3.41 billion, a price-earnings ratio of 4.95 and a beta of 1.10. The company’s fifty-day moving average is $37.67 and its 200-day moving average is $39.06.

Investment in American Life stocks (NYSE:AELGet 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 the consensus estimate of $0.95 per ($0.03). American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. The company posted revenue of $147.80 million in the quarter, versus a consensus estimate of $612.85 million. During the same period of the previous year, the company achieved EPS of $0.43. The company’s revenue for the quarter was down 84.6% from the same quarter last year. As a group, stock analysts expect American Equity Investment Life to post earnings per share of 3.91 for the current fiscal year.

In other news, EVP Ronald James Grensteiner sold 9,188 shares of the company in a transaction dated Tuesday, April 12. The shares were sold at an average price of $38.31, for a total transaction of $351,992.28. Following the transaction, the executive vice president now owns 89,039 shares of the company, valued at $3,411,084.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. 1.59% of the shares are currently held by insiders.

Several hedge funds and other institutional investors have recently changed their positions in the company. BlackRock Inc. increased its holdings of American Equity Investment Life shares by 0.4% in the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider valued at $531,512,000 after purchasing an additional 49,702 shares during the period. Dimensional Fund Advisors LP increased its holdings of American Equity Investment Life shares by 2.9% in Q1. Dimensional Fund Advisors LP now owns 6,903,390 shares of the financial services provider worth $275,512,000 after acquiring 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 worth $127,313,000 after acquiring 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% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,358,090 shares of the financial services provider worth $91,777,000 after acquiring 32,542 additional shares in the last quarter. Finally, Invesco Ltd. increased its holding in shares of American Equity Investment Life by 12.0% in the 1st quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider worth $73,278,000 after acquiring an additional 196,589 shares in the last quarter. Hedge funds and other institutional investors hold 95.15% of the company’s shares.

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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