$590.06 Million in Sales Expected for American Equity Investment Life Holding (NYSE:AEL) This Quarter

Wall Street brokerages expect American Equity Investment Life Holding (NYSE:AEL) to announce sales of $590.06 million for the current quarter, Zacks reports. Two analysts have issued estimates for American Equity Investment Life’s earnings, with the lowest sales estimate coming in at $587.90 million and the highest estimate coming in at $592.22 million. American Equity Investment Life posted sales of $554.36 million during the same quarter last year, which suggests a positive year over year growth rate of 6.4%. The business is expected to report its next earnings report on Wednesday, February 5th.

On average, analysts expect that American Equity Investment Life will report full-year sales of $2.31 billion for the current financial year. For the next year, analysts expect that the company will post sales of $2.40 billion, with estimates ranging from $2.39 billion to $2.41 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $2.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $1.56. The firm had revenue of $643.40 million for the quarter, compared to analyst estimates of $641.01 million. During the same period in the prior year, the business posted $1.87 EPS. The firm’s quarterly revenue was down 46.1% compared to the same quarter last year.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine upgraded American Equity Investment Life from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, B. Riley reissued a “neutral” rating on shares of American Equity Investment Life in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $30.50.

In related news, Director Alonzo A. J. J. Strickland sold 900 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $30.11, for a total value of $27,099.00. Following the sale, the director now directly owns 246,400 shares in the company, valued at approximately $7,419,104. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John M. Matovina sold 15,704 shares of American Equity Investment Life stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $29.76, for a total transaction of $467,351.04. Following the completion of the transaction, the chief executive officer now directly owns 236,086 shares in the company, valued at $7,025,919.36. The disclosure for this sale can be found here. In the last three months, insiders sold 34,900 shares of company stock worth $1,039,104. Insiders own 1.99% of the company’s stock.

Several institutional investors have recently modified their holdings of AEL. NumerixS Investment Technologies Inc acquired a new stake in American Equity Investment Life during the 2nd quarter worth approximately $30,000. Denali Advisors LLC purchased a new position in shares of American Equity Investment Life during the 3rd quarter valued at about $80,000. First Mercantile Trust Co. purchased a new position in shares of American Equity Investment Life during the 3rd quarter valued at about $90,000. Gradient Investments LLC grew its position in shares of American Equity Investment Life by 10.8% during the 3rd quarter. Gradient Investments LLC now owns 4,599 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 450 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of American Equity Investment Life by 13.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,795 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 689 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.

Shares of NYSE AEL traded down $0.49 during trading hours on Friday, reaching $29.21. 5,688 shares of the stock traded hands, compared to its average volume of 513,679. The company has a market capitalization of $2.71 billion, a P/E ratio of 6.30 and a beta of 2.03. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.18. American Equity Investment Life has a 52-week low of $20.16 and a 52-week high of $33.57. The company’s 50-day simple moving average is $29.85 and its two-hundred day simple moving average is $26.00.

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

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