Brokerages Set American Equity Investment Life Holding (AEL) PT at $30.88

American Equity Investment Life Holding (NYSE:AEL) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.88.

AEL has been the subject of several analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price objective on shares of American Equity Investment Life in a report on Friday, December 8th. ValuEngine cut American Equity Investment Life from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th. UBS initiated coverage on American Equity Investment Life in a report on Friday, March 2nd. They issued a “sell” rating and a $30.00 price objective for the company. SunTrust Banks restated a “buy” rating and issued a $38.00 price objective on shares of American Equity Investment Life in a report on Friday, February 9th. Finally, B. Riley raised their price objective on American Equity Investment Life from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, December 6th.

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In related news, Director Alexander Meeker Clark sold 2,500 shares of American Equity Investment Life stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.75, for a total transaction of $81,875.00. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at $196,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Matovina sold 20,000 shares of American Equity Investment Life stock in a transaction dated Friday, March 16th. The stock was 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 130,850 shares of company stock valued at $4,083,143 in the last quarter. 4.05% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of AEL. Alyeska Investment Group L.P. bought a new position in American Equity Investment Life during the third quarter worth about $53,547,000. Hennessy Advisors Inc. bought a new position in American Equity Investment Life during the fourth quarter worth about $32,746,000. Schroder Investment Management Group grew its holdings in American Equity Investment Life by 105.9% during the fourth quarter. Schroder Investment Management Group now owns 846,289 shares of the financial services provider’s stock worth $26,006,000 after purchasing an additional 435,341 shares during the period. Millennium Management LLC grew its holdings in American Equity Investment Life by 225.2% during the fourth quarter. Millennium Management LLC now owns 605,285 shares of the financial services provider’s stock worth $18,600,000 after purchasing an additional 419,164 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in American Equity Investment Life by 67.7% during the fourth quarter. Wells Fargo & Company MN now owns 853,628 shares of the financial services provider’s stock worth $26,233,000 after purchasing an additional 344,654 shares during the period. Institutional investors and hedge funds own 93.49% of the company’s stock.

American Equity Investment Life (AEL) traded up $0.23 on Friday, hitting $32.35. The company’s stock had a trading volume of 48,874 shares, compared to its average volume of 594,527. American Equity Investment Life has a 1 year low of $22.23 and a 1 year high of $35.79. The firm has a market cap of $2,887.85, a P/E ratio of 10.20 and a beta of 2.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.12 and a quick ratio of 0.12.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.14. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $550.89 million. American Equity Investment Life had a return on equity of 10.65% and a net margin of 4.49%. American Equity Investment Life’s revenue for the quarter was up 99.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. research analysts expect that American Equity Investment Life will post 3.4 EPS for the current year.

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American Equity Investment Life Company Profile

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.

Analyst Recommendations for American Equity Investment Life (NYSE:AEL)

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