Brokerages Set American Equity Investment Life Holding (NYSE:AEL) Target Price at $28.67

Shares of American Equity Investment Life Holding (NYSE:AEL) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $28.67.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of American Equity Investment Life from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, August 26th. TheStreet raised shares of American Equity Investment Life from a “c+” rating to a “b-” rating in a research note on Monday, May 20th. ValuEngine downgraded shares of American Equity Investment Life from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 27th. Finally, Raymond James decreased their price target on shares of American Equity Investment Life from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, June 14th.

Shares of NYSE:AEL traded up $0.45 during midday trading on Friday, reaching $23.82. 416,806 shares of the company’s stock traded hands, compared to its average volume of 454,978. The company has a fifty day simple moving average of $22.84 and a two-hundred day simple moving average of $27.20. American Equity Investment Life has a 1 year low of $20.16 and a 1 year high of $36.94. The company has a market cap of $2.08 billion, a P/E ratio of 5.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings results on Monday, August 5th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.95 by $0.14. The company had revenue of $706.39 million during the quarter, compared to analysts’ expectations of $632.38 million. American Equity Investment Life’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. As a group, research analysts forecast that American Equity Investment Life will post 4.05 EPS for the current fiscal year.

In other American Equity Investment Life news, CFO Ted Morris Johnson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $26.11, for a total value of $261,100.00. Following the transaction, the chief financial officer now owns 86,833 shares in the company, valued at approximately $2,267,209.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Debra J. Richardson sold 80,000 shares of American Equity Investment Life stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $27.40, for a total transaction of $2,192,000.00. The disclosure for this sale can be found here. Insiders sold 122,413 shares of company stock worth $3,336,254 over the last ninety days. Corporate insiders own 1.99% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of American Equity Investment Life by 1.0% in the second quarter. BlackRock Inc. now owns 13,282,923 shares of the financial services provider’s stock worth $360,762,000 after buying an additional 134,617 shares in the last quarter. Vanguard Group Inc. grew its stake in American Equity Investment Life by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 10,720,255 shares of the financial services provider’s stock valued at $291,162,000 after acquiring an additional 110,086 shares in the last quarter. Earnest Partners LLC raised its holdings in American Equity Investment Life by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,620,173 shares of the financial services provider’s stock valued at $71,164,000 after acquiring an additional 39,422 shares during the last quarter. Northern Trust Corp raised its holdings in American Equity Investment Life by 1.6% in the 2nd quarter. Northern Trust Corp now owns 2,328,788 shares of the financial services provider’s stock valued at $63,249,000 after acquiring an additional 35,829 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in American Equity Investment Life by 6.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,650,649 shares of the financial services provider’s stock worth $44,601,000 after purchasing an additional 105,509 shares in the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

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. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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