Second Quarter 2022 EPS Estimates for American Equity Investment Life Holding (NYSE:AEL) Reduced by Jefferies Financial Group
Investment in American shares Life Holding (NYSE:AEL – Get a rating) – Jefferies Financial Group research analysts dropped their second-quarter 2022 earnings estimates for American Equity Investment Life in a report released Sunday, June 5. Jefferies Financial Group analyst D. Bergman now expects the financial services provider to post earnings per share of $1.00 for the quarter, down from its previous forecast of 1.05. $. Jefferies Financial Group also released estimates for American Equity Investment Life Q3 2022 earnings at $1.09 EPS, Q4 2022 earnings at $1.19 EPS, fiscal year 2022 earnings at $4.20 $EPS, Q1 2023 earnings at $1.20 EPS, Q2 2023 earnings at $1.25 EPS, Q3 2023 earnings at $1.30 EPS, Fourth Quarter 2023 earnings at $1.35 EPS , FY2023 profit at $5.10 EPS, FY2024 profit at $5.70 EPS, FY2025 profit at $6.40 EPS and FY2026 profit at 7.20 $EPS.
A number of other research analysts have also recently commented on AEL. StockNews.com upgraded American Equity Investment Life from a “buy” to a “hold” rating in a Friday, May 20 research note. 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 Tuesday, Feb. 22 research note. To finish, Zacks Investment Research upgraded American Equity Investment Life from a “sell” to a “hold” rating and set a price target of $37.00 for the stock in a Tuesday, May 10 research note. Five equity research analysts gave the stock a hold rating and six gave the company a buy rating. According to data from MarketBeat, American Equity Investment Life has an average rating of “Buy” and a consensus target price of $42.18.
Shares of ALE opened at $41.47 on Tuesday. The stock’s 50-day moving average is $38.35 and its two-hundred-day moving average is $38.84. The stock has a market capitalization of $3.86 billion, a PE ratio of 5.61 and a beta of 1.09. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49. The company has a debt ratio of 0.11, a current ratio of 0.17 and a quick ratio of 0.17.
Investment in American Life stocks (NYSE:AEL – Get a rating) last reported quarterly earnings data on Wednesday, May 4. The financial services provider reported EPS of $0.92 for the quarter, missing analyst consensus estimates of $0.95 per ($0.03). American Equity Investment Life posted a net margin of 26.35% and a return on equity of 7.26%. The company posted revenue of $147.80 million in the quarter, compared to $612.85 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.43. American Equity Investment Life’s revenue for the quarter was down 84.6% year over year.
In related news, EVP Ronald James Grensteiner sold 15,963 shares in a trade that took place on Monday, March 14. The stock was sold at an average price of $38.37, for a total value of $612,500.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Additionally, director Joyce Ann Chapman sold 3,856 shares in a trade that took place on Wednesday, March 9. The stock was sold at an average price of $38.26, for a total value of $147,530.56. Disclosure of this sale can be found here. Insiders sold 29,007 shares of the company valued at $1,112,023 in the past ninety days. Company insiders own 1.90% of the company’s shares.
Hedge funds and other institutional investors have recently changed their stakes in the company. EverSource Wealth Advisors LLC bought a new position in American Equity Investment Life during Q4 worth $27,000. 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 valued at $38,000 after buying an additional 470 shares last quarter. Strs Ohio bought a new position in American Equity Investment Life during Q4, valued at $42,000. Covestor Ltd bought a new position in American Equity Investment Life during Q4, valued at $61,000. Finally, Counterpoint Mutual Funds LLC bought a new position in American Equity Investment Life during Q1 worth $65,000. 95.15% of the shares are held by hedge funds and other institutional investors.
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.
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