American Equity Investment Life (AEL) Downgraded to Buy at ValuEngine

American Equity Investment Life (NYSE:AEL) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other brokerages also recently issued reports on AEL. Royal Bank of Canada reissued a “buy” rating and issued a $35.00 price objective on shares of American Equity Investment Life in a research note on Friday, December 8th. B. Riley boosted their price objective on American Equity Investment Life from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, December 6th. Finally, Goldman Sachs Group assumed coverage on American Equity Investment Life in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $29.00 price objective on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $28.50.

American Equity Investment Life (NYSE:AEL) opened at $31.31 on Friday. The stock has a market capitalization of $2,820.00, a PE ratio of 10.99 and a beta of 2.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.12 and a quick ratio of 0.12. American Equity Investment Life has a 52 week low of $21.66 and a 52 week high of $32.54.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.33. The company had revenue of $906.00 million for the quarter, compared to the consensus estimate of $615.75 million. American Equity Investment Life had a return on equity of 10.50% and a net margin of 7.90%. The firm’s revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. sell-side analysts predict that American Equity Investment Life will post 3 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of AEL. Renaissance Technologies LLC acquired a new position in American Equity Investment Life during the 1st quarter worth approximately $539,000. Sei Investments Co. raised its stake in American Equity Investment Life by 4.5% during the 2nd quarter. Sei Investments Co. now owns 40,725 shares of the financial services provider’s stock worth $1,070,000 after buying an additional 1,760 shares during the period. Schwab Charles Investment Management Inc. raised its stake in American Equity Investment Life by 17.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 723,509 shares of the financial services provider’s stock worth $19,014,000 after buying an additional 108,373 shares during the period. Legal & General Group Plc raised its stake in American Equity Investment Life by 5.1% during the 2nd quarter. Legal & General Group Plc now owns 223,559 shares of the financial services provider’s stock worth $5,874,000 after buying an additional 10,937 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in American Equity Investment Life by 23.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 41,143 shares of the financial services provider’s stock worth $1,081,000 after buying an additional 7,811 shares during the period. 93.92% of the stock is currently owned by institutional investors and hedge funds.

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American Equity Investment Life Company Profile

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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