American Equity Investment Life (AEL) Upgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research upgraded shares of American Equity Investment Life (NYSE:AEL) from a sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full service underwriter of a broad line of annuity and insurance products, with a primary emphasis on the sale of fixed rate and index annuities. “

Separately, ValuEngine lowered American Equity Investment Life from a hold rating to a sell rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $39.67.

AEL stock opened at $28.95 on Tuesday. American Equity Investment Life has a twelve month low of $25.27 and a twelve month high of $38.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market cap of $2.54 billion, a P/E ratio of 7.43 and a beta of 2.27.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.09. American Equity Investment Life had a return on equity of 14.00% and a net margin of 13.62%. The company had revenue of $554.36 million during the quarter, compared to analyst estimates of $556.20 million. During the same quarter last year, the company earned $0.82 EPS. Equities research analysts forecast that American Equity Investment Life will post 3.77 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Profit Investment Management LLC bought a new stake in shares of American Equity Investment Life in the 1st quarter worth $1,880,000. American Century Companies Inc. bought a new stake in shares of American Equity Investment Life in the 4th quarter worth $392,000. Geode Capital Management LLC increased its holdings in shares of American Equity Investment Life by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 953,517 shares of the financial services provider’s stock worth $26,641,000 after purchasing an additional 88,978 shares in the last quarter. Norges Bank bought a new stake in shares of American Equity Investment Life in the 4th quarter worth $38,177,000. Finally, Nordea Investment Management AB increased its holdings in shares of American Equity Investment Life by 2.6% in the 4th quarter. Nordea Investment Management AB now owns 312,535 shares of the financial services provider’s stock worth $8,733,000 after purchasing an additional 7,987 shares in the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.

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

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