American Equity Investment Life (NYSE:AEL) Upgraded to Buy at B. Riley

B. Riley upgraded shares of American Equity Investment Life (NYSE:AEL) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, LiveTradingNews reports. B. Riley also issued estimates for American Equity Investment Life’s Q4 2020 earnings at $0.92 EPS and FY2021 earnings at $4.25 EPS.

AEL has been the topic of a number of other research reports. Citigroup lifted their price objective on American Equity Investment Life from $25.00 to $31.00 in a research note on Friday, October 9th. Piper Sandler upped their target price on shares of American Equity Investment Life from $27.00 to $29.00 and gave the company a neutral rating in a research note on Friday, November 20th. TheStreet upgraded shares of American Equity Investment Life from a c+ rating to a b- rating in a research report on Friday, December 11th. Royal Bank of Canada cut their target price on shares of American Equity Investment Life from $36.00 to $31.00 in a research note on Wednesday, November 4th. Finally, Zacks Investment Research lowered shares of American Equity Investment Life from a buy rating to a hold rating and set a $26.00 price target on the stock. in a research report on Wednesday, October 28th. Four research 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 has a consensus rating of Buy and a consensus price target of $30.33.

Shares of AEL traded up $0.77 during mid-day trading on Wednesday, hitting $30.60. 12,653 shares of the company’s stock were exchanged, compared to its average volume of 1,050,407. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $27.83 and its 200-day simple moving average is $25.91. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 3.18 and a beta of 1.49. American Equity Investment Life has a 52 week low of $9.07 and a 52 week high of $34.25.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.04). The company had revenue of $798.70 million for the quarter, compared to the consensus estimate of $611.44 million. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 earnings per share. Analysts forecast that American Equity Investment Life will post 4.64 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in American Equity Investment Life by 35.4% in the 1st quarter. First Trust Advisors LP now owns 93,246 shares of the financial services provider’s stock valued at $2,520,000 after buying an additional 24,396 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of American Equity Investment Life by 10.7% during the second quarter. PNC Financial Services Group Inc. now owns 5,215 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 503 shares in the last quarter. Federated Hermes Inc. lifted its holdings in American Equity Investment Life by 238.2% in the 2nd quarter. Federated Hermes Inc. now owns 37,463 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 26,387 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of American Equity Investment Life by 7.6% during the second quarter. Advisor Group Holdings Inc. now owns 12,907 shares of the financial services provider’s stock worth $318,000 after buying an additional 913 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in American Equity Investment Life by 0.3% in the second quarter. Bank of America Corp DE now owns 1,120,474 shares of the financial services provider’s stock valued at $27,686,000 after buying an additional 3,832 shares during the period. 96.71% of the stock is currently owned by institutional investors.

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

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