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.
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
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.
- Get a free copy of the StockNews.com research report on American Equity Investment Life (AEL)
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