Brokerages predict that American Equity Investment Life Holding (NYSE:AEL) will post $514.11 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for American Equity Investment Life’s earnings. The lowest sales estimate is $510.80 million and the highest is $519.67 million. American Equity Investment Life reported sales of $485.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.9%. The business is expected to issue its next earnings report on Wednesday, May 2nd.
On average, analysts expect that American Equity Investment Life will report full year sales of $514.11 million for the current year, with estimates ranging from $2.07 billion to $2.13 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.19 billion per share, with estimates ranging from $2.13 billion to $2.27 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow American Equity Investment Life.
American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $550.89 million. American Equity Investment Life had a net margin of 4.49% and a return on equity of 10.65%. The business’s revenue for the quarter was up 99.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS.
In related news, EVP Ronald James Grensteiner sold 28,020 shares of the business’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $30.61, for a total value of $857,692.20. Following the sale, the executive vice president now directly owns 122,792 shares in the company, valued at approximately $3,758,663.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John M. Matovina sold 20,000 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $31.85, for a total value of $637,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 206,620 shares of company stock worth $6,382,885 over the last quarter. Company insiders own 4.05% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB bought a new stake in American Equity Investment Life in the 4th quarter valued at about $254,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in American Equity Investment Life in the 4th quarter valued at about $4,072,000. MetLife Investment Advisors LLC bought a new stake in American Equity Investment Life in the 4th quarter valued at about $1,180,000. Gotham Asset Management LLC bought a new stake in American Equity Investment Life in the 4th quarter valued at about $343,000. Finally, Millennium Management LLC raised its stake in American Equity Investment Life by 225.2% in the 4th quarter. Millennium Management LLC now owns 605,285 shares of the financial services provider’s stock valued at $18,600,000 after acquiring an additional 419,164 shares during the period. Institutional investors and hedge funds own 93.49% of the company’s stock.
AEL opened at $29.31 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. The firm has a market cap of $2,625.40, a price-to-earnings ratio of 9.27 and a beta of 2.45. American Equity Investment Life has a 1 year low of $22.23 and a 1 year high of $35.79.
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About American Equity Investment Life
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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