American Equity Investment Life (AEL) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of American Equity Investment Life (NYSE:AEL) from a buy rating to a hold rating in a report released on Friday morning.

According to Zacks, “American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full service underwriter of a broad line of annuity and insurance products, with a primary emphasis on the sale of fixed rate and index annuities. “

Several other research analysts have also recently weighed in on the stock. UBS initiated coverage on shares of 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. SunTrust Banks reiterated 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, ValuEngine upgraded shares of American Equity Investment Life from a buy rating to a strong-buy rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. American Equity Investment Life presently has an average rating of Hold and a consensus price target of $30.88.

Shares of NYSE AEL opened at $35.36 on Friday. The company has a market cap of $3.14 billion, a P/E ratio of 10.43 and a beta of 2.45. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. American Equity Investment Life has a 52-week low of $23.02 and a 52-week high of $35.79.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $510.78 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $0.66 earnings per share. equities research analysts predict that American Equity Investment Life will post 3.43 earnings per share for the current year.

In other news, CEO John M. Matovina sold 20,000 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $31.85, for a total value of $637,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ronald James Grensteiner sold 47,750 shares of the business’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $30.20, for a total transaction of $1,442,050.00. Following the completion of the sale, the insider now directly owns 122,792 shares in the company, valued at approximately $3,708,318.40. The disclosure for this sale can be found here. Insiders sold 204,120 shares of company stock valued at $6,301,010 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of American Equity Investment Life by 56.1% in the first quarter. Principal Financial Group Inc. now owns 1,158,624 shares of the financial services provider’s stock worth $34,018,000 after purchasing an additional 416,514 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of American Equity Investment Life by 2,157.2% in the first quarter. Summit Trail Advisors LLC now owns 297,204 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 284,037 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of American Equity Investment Life by 47.2% in the first quarter. Xact Kapitalforvaltning AB now owns 12,167 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 3,900 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of American Equity Investment Life by 30.9% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 173,500 shares of the financial services provider’s stock worth $5,094,000 after purchasing an additional 41,000 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of American Equity Investment Life by 36.8% in the first quarter. Verition Fund Management LLC now owns 23,498 shares of the financial services provider’s stock worth $690,000 after purchasing an additional 6,321 shares in the last quarter. 93.58% of the stock is currently owned by institutional investors and hedge funds.

American Equity Investment Life Company Profile

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

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