StockNews.com upgrades American Equity Investment Life (NYSE:AEL) to ‘buy’


Investment in American Life stocks (NYSE:AELGet a rating) has been updated by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

AEL has been the subject of a number of other research reports. Royal Bank of Canada raised its price target on American Equity Investment Life shares from $41.00 to $47.00 and gave the company an “outperform” rating in a Wednesday 12 research report. january. Jefferies Financial Group began covering American Equity Investment Life stocks in a research report on Tuesday, January 25. They issued a “holding” rating and a price target of $42.00 on the stock. Morgan Stanley raised its price target on American Equity Investment Life shares from $40.00 to $41.00 and gave the company an “equal weight” rating in a Tuesday, Feb. 22 research report. To finish, Zacks Investment Research upgraded shares of American Equity Investment Life from a “sell” to a “hold” rating and set a price target of $37.00 on the stock in a research report on Tuesday. Four research analysts gave the stock a hold rating and seven gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.18.

Shares of NYSE:AEL opened at $34.02 on Thursday. The stock has a market capitalization of $3.17 billion, a PE ratio of 4.60 and a beta of 1.10. The company’s fifty-day moving average is $38.44 and its 200-day moving average is $38.31. American Equity Investment Life has a 52-week low of $27.12 and a 52-week high of $44.49. The company has a quick ratio of 0.20, a current ratio of 0.17 and a debt ratio of 0.11.

Investment in American Life stocks (NYSE:AELGet a rating) last reported results on Wednesday, May 4. The financial services provider reported EPS of $0.92 for the quarter, meeting analyst consensus estimates of $0.92. 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 for the quarter, compared to $612.85 million expected by analysts. In the same quarter last year, the company achieved EPS of $0.43. The company’s revenue decreased by 84.6% compared to the same quarter last year. Sell-side analysts expect American Equity Investment Life to post EPS of 4.24 for the current year.

In related news, EVP Ronald James Grensteiner sold 15,963 shares of the company in a transaction dated Monday, March 14. The shares were sold at an average price of $38.37, for a total transaction of $612,500.31. The transaction was disclosed in an SEC filing, available at this hyperlink. Additionally, director Joyce Ann Chapman sold 3,856 shares of the company in a trade dated Wednesday, March 9. The stock was sold at an average price of $38.26, for a total transaction of $147,530.56. Disclosure of this sale can be found here. Insiders have sold 29,007 shares of the company worth $1,112,023 over the past three months. 1.90% of the shares are currently held by insiders.

Hedge funds and other institutional investors have recently changed their holdings in the company. Exchange Traded Concepts LLC increased its holdings of American Equity Investment Life shares by 1.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,688 shares of the financial services provider valued at $844,000 after buying 363 additional shares in the last quarter. Meritage Investment Management increased its holding in shares of American Equity Investment Life by 5.4% during the fourth 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 holdings of American Equity Investment Life shares by 4.3% during the fourth quarter. Profund Advisors LLC now owns 9,211 shares of the financial services provider valued at $358,000 after buying 378 additional shares in the last quarter. California State Teachers Retirement System increased its holdings of American Equity Investment Life shares by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 115,426 shares of the financial services provider valued at $4,492,000 after buying 426 additional shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its holding in shares of American Equity Investment Life by 1.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 32,825 shares of the financial services provider valued at $1,278,000 after buying 428 additional shares in the last quarter. Hedge funds and other institutional investors hold 95.15% of the company’s shares.

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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Analyst Recommendations for American Equity Investment Life (NYSE:AEL)



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