American Equity Investment Life (AEL) Sees Strong Trading Volume

Shares of American Equity Investment Life Holding (NYSE:AEL) saw strong trading volume on Tuesday . 1,869,291 shares were traded during mid-day trading, an increase of 241% from the previous session’s volume of 548,426 shares.The stock last traded at $32.28 and had previously closed at $29.02.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of American Equity Investment Life from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Friday, May 4th. ValuEngine upgraded shares of American Equity Investment Life from a “hold” rating to a “buy” rating in a research report on Tuesday. SunTrust Banks reiterated a “buy” rating and issued a $38.00 price target on shares of American Equity Investment Life in a research report on Friday, February 9th. Finally, UBS upgraded shares of American Equity Investment Life from a “sell” rating to a “neutral” rating in a research report on Friday, May 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $30.88.

The stock has a market cap of $2.60 billion, a P/E ratio of 10.22 and a beta of 2.45. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $510.78 million for the quarter, compared to the consensus estimate of $514.11 million. American Equity Investment Life had a net margin of 8.49% and a return on equity of 11.22%. During the same period last year, the firm earned $0.66 EPS. equities analysts forecast that American Equity Investment Life Holding will post 3.43 EPS for the current year.

In related news, Director Alexander Meeker Clark sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were 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 $196,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Debra J. Richardson sold 108,350 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $31.05, for a total transaction of $3,364,267.50. Following the transaction, the director now directly owns 140,253 shares of the company’s stock, valued at $4,354,855.65. The disclosure for this sale can be found here. Insiders have sold a total of 206,620 shares of company stock worth $6,382,885 over the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gradient Investments LLC purchased a new position in American Equity Investment Life during the fourth quarter valued at $101,000. Point72 Asia Hong Kong Ltd purchased a new position in American Equity Investment Life during the first quarter valued at $188,000. Everence Capital Management Inc. purchased a new position in American Equity Investment Life during the fourth quarter valued at $209,000. BKS Advisors LLC purchased a new position in American Equity Investment Life during the first quarter valued at $207,000. Finally, Alps Advisors Inc. purchased a new position in American Equity Investment Life during the fourth quarter valued at $223,000. 93.58% of the stock is owned by institutional investors.

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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