American Equity Investment Life (NYSE:AEL) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of American Equity Investment Life (NYSE:AEL) from a buy rating to a hold rating in a research report report published on Tuesday, April 17th.

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. “

Other equities analysts also recently issued reports about the company. SunTrust Banks reiterated a buy rating and issued a $38.00 target price on shares of American Equity Investment Life in a research report on Friday, February 9th. ValuEngine raised American Equity Investment Life from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Finally, UBS began coverage on American Equity Investment Life in a research note on Friday, March 2nd. They set a sell rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $30.88.

AEL stock opened at $31.10 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.26. American Equity Investment Life has a 1-year low of $23.02 and a 1-year high of $35.79. The company has a market cap of $2,777.30, a P/E ratio of 9.81 and a beta of 2.45.

American Equity Investment Life (NYSE:AEL) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. American Equity Investment Life had a return on equity of 10.65% and a net margin of 4.49%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $550.89 million. During the same period in the prior year, the firm posted $0.63 EPS. American Equity Investment Life’s quarterly revenue was up 99.0% on a year-over-year basis. equities analysts forecast that American Equity Investment Life will post 3.4 EPS for the current year.

In other news, Director Alexander Meeker Clark sold 2,500 shares of American Equity Investment Life stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.75, for a total value of $81,875.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $196,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Debra J. Richardson sold 108,350 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $31.05, for a total value of $3,364,267.50. Following the transaction, the director now owns 140,253 shares of the company’s stock, valued at $4,354,855.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,620 shares of company stock worth $6,382,885. Corporate insiders own 4.05% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AEL. AMP Capital Investors Ltd boosted its holdings in shares of American Equity Investment Life by 39.2% in the 3rd quarter. AMP Capital Investors Ltd now owns 16,700 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 4,700 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of American Equity Investment Life by 264.6% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 36,100 shares of the financial services provider’s stock valued at $1,049,000 after acquiring an additional 26,200 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of American Equity Investment Life in the 3rd quarter valued at about $243,000. Algert Global LLC bought a new stake in shares of American Equity Investment Life in the 3rd quarter valued at about $315,000. Finally, Louisiana State Employees Retirement System raised its position in American Equity Investment Life by 6.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 38,300 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

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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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