American Equity Investment Life Holding (NYSE:AEL) Receives $31.78 Average PT from Brokerages


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American Equity Investment Life Holding (NYSE:AEL) has been given a consensus recommendation of “Buy” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $32.33.

Several equities research analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of American Equity Investment Life from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Raymond James raised shares of American Equity Investment Life from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Friday, January 15th. Citigroup raised their target price on shares of American Equity Investment Life from $21.00 to $33.00 in a research report on Wednesday, March 31st. TheStreet raised shares of American Equity Investment Life from a “c+” rating to a “b-” rating in a research report on Friday, December 11th. Finally, B. Riley upgraded shares of American Equity Investment Life from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 13th.

In other American Equity Investment Life news, Director John M. Matovina sold 23,201 shares of the firm’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $31.01, for a total transaction of $719,463.01. Following the completion of the sale, the director now directly owns 138,303 shares in the company, valued at approximately $4,288,776.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gerard D. Neugent sold 6,281 shares of the firm’s stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $29.36, for a total transaction of $184,410.16. Following the sale, the director now owns 44,500 shares of the company’s stock, valued at $1,306,520. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,518 shares of company stock valued at $1,088,635. 1.94% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in shares of American Equity Investment Life in the fourth quarter worth approximately $29,000. Vantage Consulting Group Inc bought a new stake in shares of American Equity Investment Life in the fourth quarter worth approximately $50,000. Neo Ivy Capital Management bought a new stake in shares of American Equity Investment Life in the third quarter worth approximately $49,000. Steward Partners Investment Advisory LLC bought a new stake in shares of American Equity Investment Life in the fourth quarter worth approximately $92,000. Finally, Veriti Management LLC bought a new stake in shares of American Equity Investment Life in the fourth quarter worth approximately $130,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

AEL traded down $1.04 during trading on Friday, hitting $31.20. 10,188 shares of the stock traded hands, compared to its average volume of 804,305. The firm has a market capitalization of $2.98 billion, a P/E ratio of 3.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a 50-day moving average of $30.12 and a 200 day moving average of $28.35. American Equity Investment Life has a 12-month low of $15.56 and a 12-month high of $34.25.

American Equity Investment Life (NYSE:AEL) last posted its earnings results on Tuesday, February 16th. The financial services provider reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.20). The firm had revenue of $521.73 million for the quarter, compared to analysts’ expectations of $534.50 million. As a group, equities analysts predict that American Equity Investment Life will post 4.64 EPS for the current fiscal year.

About American Equity Investment Life

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities. It markets its products through independent agents, including independent 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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