American Equity Investment Life (NYSE:AEL) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of American Equity Investment Life (NYSE:AEL – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on AEL. JPMorgan Chase & Co. upped their price target on shares of American Equity Investment Life from $40.00 to $44.00 and gave the stock a neutral rating in a report on Friday, January 6th. Piper Jaffray Companies cut shares of American Equity Investment Life from an overweight rating to a neutral rating and upped their price target for the company from $45.00 to $48.00 in a research report on Tuesday, February 21st. Raymond James upgraded shares of American Equity Investment Life from an outperform rating to a strong-buy rating and set a $48.00 price objective for the company in a research report on Monday, December 19th. Piper Sandler lowered shares of American Equity Investment Life from an overweight rating to a neutral rating and increased their target price for the stock from $45.00 to $48.00 in a research note on Tuesday, February 21st. Finally, Evercore ISI raised their price objective on shares of American Equity Investment Life from $38.00 to $43.00 and gave the company an in-line rating in a research note on Wednesday, December 21st. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, American Equity Investment Life currently has a consensus rating of Hold and a consensus target price of $45.30.

American Equity Investment Life Stock Performance

NYSE AEL opened at $33.12 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.81 billion, a P/E ratio of 2.65 and a beta of 0.91. American Equity Investment Life has a 12-month low of $28.05 and a 12-month high of $48.37. The firm has a 50-day moving average price of $43.70 and a two-hundred day moving average price of $41.25.

American Equity Investment Life (NYSE:AEL – Get Rating) last issued its quarterly earnings results on Friday, February 17th. The financial services provider reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.17). American Equity Investment Life had a return on equity of 9.84% and a net margin of 86.25%. The firm had revenue of $654.45 million for the quarter, compared to the consensus estimate of $652.84 million. During the same period last year, the company posted $1.04 EPS. The business’s revenue was down 41.0% on a year-over-year basis. Analysts anticipate that American Equity Investment Life will post 4.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AEL. Lazard Asset Management LLC bought a new position in shares of American Equity Investment Life during the second quarter valued at about $29,000. Coppell Advisory Solutions Corp. purchased a new stake in American Equity Investment Life during the fourth quarter worth about $29,000. CoreCap Advisors LLC purchased a new stake in American Equity Investment Life during the second quarter worth about $38,000. IFP Advisors Inc increased its holdings in American Equity Investment Life by 103.6% during the third quarter. IFP Advisors Inc now owns 786 shares of the financial services provider’s stock worth $42,000 after buying an additional 400 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in American Equity Investment Life by 114.4% during the third quarter. Exchange Traded Concepts LLC now owns 1,158 shares of the financial services provider’s stock worth $43,000 after buying an additional 618 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

About American Equity Investment Life

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American Equity Investment Life Holding Co engages in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgage loans, agricultural mortgage loans, and residential mortgage loans. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.