American Equity Investment Life Holding (AEL) Receives $36.00 Average Price Target from Brokerages

American Equity Investment Life Holding (NYSE:AEL) has been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $36.00.

A number of equities research analysts have weighed in on the stock. Sandler O’Neill restated a “buy” rating and issued a $41.00 price objective on shares of American Equity Investment Life in a report on Friday, July 13th. Zacks Investment Research cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, Royal Bank of Canada set a $38.00 price objective on shares of American Equity Investment Life and gave the stock a “buy” rating in a report on Wednesday, August 8th.

Institutional investors and hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new stake in shares of American Equity Investment Life during the third quarter valued at approximately $354,000. United Services Automobile Association grew its holdings in shares of American Equity Investment Life by 60.8% during the second quarter. United Services Automobile Association now owns 169,789 shares of the financial services provider’s stock valued at $6,112,000 after buying an additional 64,201 shares during the last quarter. Northern Trust Corp grew its holdings in shares of American Equity Investment Life by 1.5% during the second quarter. Northern Trust Corp now owns 2,345,397 shares of the financial services provider’s stock valued at $84,434,000 after buying an additional 33,959 shares during the last quarter. Putnam Investments LLC purchased a new stake in shares of American Equity Investment Life during the second quarter valued at approximately $2,200,000. Finally, MetLife Investment Advisors LLC grew its holdings in shares of American Equity Investment Life by 6.8% during the second quarter. MetLife Investment Advisors LLC now owns 40,984 shares of the financial services provider’s stock valued at $1,475,000 after buying an additional 2,593 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

AEL stock traded up $0.40 during trading on Wednesday, reaching $35.91. The company had a trading volume of 5,312 shares, compared to its average volume of 549,171. American Equity Investment Life has a 52 week low of $27.06 and a 52 week high of $38.56. The company has a market cap of $3.19 billion, a P/E ratio of 11.35 and a beta of 2.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.12 and a quick ratio of 0.12.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. The company had revenue of $685.50 million during the quarter, compared to the consensus estimate of $589.40 million. American Equity Investment Life had a net margin of 11.14% and a return on equity of 12.32%. American Equity Investment Life’s revenue was down 16.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts expect that American Equity Investment Life will post 3.55 earnings per share for the current fiscal year.

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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