Zacks: Analysts expect American Equity Investment Life Holding (NYSE:AEL) to post quarterly sales of $524.25 million
Equity research analysts expect American Equity Investment Life Holding (NYSE:AEL) to post sales of $524.25 million for the current quarter, according to Zacks. Four analysts provided earnings estimates for American Equity Investment Life, with the lowest sales estimate of $516.22 million and the highest estimate of $533.20 million. American Equity Investment Life reported sales of $497.19 million in the same quarter last year, indicating a positive growth rate of 5.4% year-over-year. The company is expected to release its next quarterly results on Wednesday, May 4.
On average, analysts expect American Equity Investment Life to report annual sales of $2.16 billion for the current year, with estimates ranging from $2.12 billion to $2.20 billion. dollars. For the next fiscal year, analysts expect the company to record sales of $2.29 billion, with estimates ranging from $2.23 billion to $2.33 billion. Zacks sales averages are an average based on a survey of research analysts who provide coverage for American Equity Investment Life.
American Equity Investment Life (NYSE:AEL) 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%. In the same quarter of the previous year, the company achieved EPS of $0.77.
A number of analysts have recently released reports on the stock. Zacks Investment Research cut shares of American Equity Investment Life from a “strong buy” rating to a “hold” rating and set a price target of $42.00 for the company. in a research note on Tuesday, January 4. Evercore ISI upgraded shares of 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 research note from Wednesday, January 5. Keefe, Bruyette & Woods upgraded shares of American Equity Investment Life from a “market performer” rating to an “outperformer” rating and set a price target of $42.00 for the company in a research note from Wednesday, December 1. Raymond James raised his price target on American Equity Investment Life shares from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, Jan. 10. Finally, Piper Sandler upgraded shares of American Equity Investment Life from a “neutral” rating to an “overweight” rating and raised the stock’s target price from $36.00 to $46.00 in a report from Wednesday 5 January. Five investment analysts gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $41.58.
In other news from American Equity Investment Life, CEO Anant Bhalla sold 10,214 shares of American Equity Investment Life in a trade dated Tuesday, November 30. The stock was sold at an average price of $29.64, for a total transaction of $302,742.96. The transaction was disclosed in a document filed with the SEC, accessible via this link. Also, VPE Ronald James Grensteiner sold 10,894 shares of American Equity Investment Life in a trade dated Thursday, January 20. The stock was sold at an average price of $42.05, for a total value of $458,092.70. Disclosure of this sale can be found here. Insiders sold a total of 41,108 shares of the company valued at $1,582,836 during the last quarter. Company insiders own 1.90% of the company’s shares.
Major investors have recently changed their stake in the company. EverSource Wealth Advisors LLC acquired a new stake in American Equity Investment Life in the fourth quarter valued at $27,000. Strs Ohio bought a new stake in American Equity Investment Life in Q4, valued at around $42,000. Signaturefd LLC increased its stake in American Equity Investment Life by 205.4% in Q3. Signaturefd LLC now owns 1,655 shares of the financial services provider valued at $49,000 after purchasing an additional 1,113 shares in the last quarter. Covestor Ltd purchased a new stake in shares of American Equity Investment Life during Q4 for a value of approximately $61,000. Finally, Denali Advisors LLC bought a new position in American Equity Investment Life in Q3 valued at around $83,000. Institutional investors hold 93.49% of the company’s shares.
Shares of AEL opened at $38.02 on Monday. The company has a 50-day simple moving average of $40.52 and a two-hundred-day simple moving average of $35.49. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt ratio of 0.09. The stock has a market capitalization of $3.52 billion, a P/E ratio of 10.59 and a beta of 1.15. American Equity Investment Life has a 12-month low of $26.21 and a 12-month high of $44.49.
The company also recently announced an annual dividend, which was paid on Monday, December 13. Investors of record on Monday, November 29 received a dividend of $0.34 per share. This is an increase from American Equity Investment Life’s previous annual dividend of $0.18. The ex-dividend date was Friday, November 26. This represents a return of 0.97%. American Equity Investment Life’s dividend payout ratio is currently 9.47%.
American Equity Investment Life Insurance Company Profile
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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