Shares of American Equity Investment Life Holding (NYSE:AEL) have earned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $30.88.
A number of research analysts have issued reports on AEL shares. ValuEngine raised American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. SunTrust Banks reissued a “buy” rating and issued a $38.00 price target on shares of American Equity Investment Life in a report on Friday, February 9th. Finally, UBS started coverage on American Equity Investment Life in a report on Friday, March 2nd. They issued a “sell” rating and a $30.00 price target for the company.
NYSE AEL traded down $0.30 during trading hours on Wednesday, reaching $29.26. The stock had a trading volume of 32,431 shares, compared to its average volume of 576,917. The firm has a market cap of $2,605.63, a P/E ratio of 9.32 and a beta of 2.45. American Equity Investment Life has a 52-week low of $22.23 and a 52-week high of $35.79. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.26.
American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.14. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $550.89 million. American Equity Investment Life had a return on equity of 10.65% and a net margin of 4.49%. American Equity Investment Life’s revenue for the quarter was up 99.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. research analysts expect that American Equity Investment Life will post 3.4 earnings per share for the current year.
In other news, Director Alexander Meeker Clark sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.75, for a total transaction of $81,875.00. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $196,500. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ronald James Grensteiner sold 47,750 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $30.20, for a total value of $1,442,050.00. Following the transaction, the insider now directly owns 122,792 shares of the company’s stock, valued at $3,708,318.40. The disclosure for this sale can be found here. Insiders sold 206,620 shares of company stock valued at $6,382,885 over the last three months. 4.05% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of American Equity Investment Life by 1.0% during the fourth quarter. BlackRock Inc. now owns 8,650,523 shares of the financial services provider’s stock worth $265,830,000 after purchasing an additional 87,001 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in American Equity Investment Life by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,530,138 shares of the financial services provider’s stock valued at $47,022,000 after buying an additional 108,930 shares in the last quarter. Victory Capital Management Inc. grew its holdings in American Equity Investment Life by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,276,996 shares of the financial services provider’s stock valued at $39,242,000 after buying an additional 9,587 shares in the last quarter. Teachers Advisors LLC grew its holdings in American Equity Investment Life by 4.3% in the 4th quarter. Teachers Advisors LLC now owns 1,071,746 shares of the financial services provider’s stock valued at $32,935,000 after buying an additional 44,607 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in American Equity Investment Life in the 4th quarter valued at $32,746,000. 93.49% of the stock is owned by institutional investors and hedge funds.
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About American Equity Investment Life
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.
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