American Equity Investment Life’s (AEL) “Buy” Rating Reiterated at SunTrust Banks

SunTrust Banks reaffirmed their buy rating on shares of American Equity Investment Life (NYSE:AEL) in a research report sent to investors on Friday. They currently have a $38.00 target price on the financial services provider’s stock. SunTrust Banks also issued estimates for American Equity Investment Life’s Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.85 EPS, Q3 2018 earnings at $0.89 EPS and Q4 2018 earnings at $0.91 EPS.

Several other research firms also recently weighed in on AEL. ValuEngine upgraded American Equity Investment Life from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Royal Bank of Canada reiterated a buy rating and set a $35.00 price target on shares of American Equity Investment Life in a research note on Friday, December 8th. B. Riley boosted their price target 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 began coverage on American Equity Investment Life in a research note on Wednesday, October 18th. They set a neutral rating and a $29.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $31.00.

Shares of American Equity Investment Life (NYSE AEL) traded down $0.13 during mid-day trading on Friday, reaching $30.06. The company had a trading volume of 943,965 shares, compared to its average volume of 592,913. American Equity Investment Life has a 1 year low of $22.23 and a 1 year high of $35.79. 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 stock has a market cap of $2,696.91, a P/E ratio of 9.58 and a beta of 2.50.

American Equity Investment Life (NYSE:AEL) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.14. American Equity Investment Life had a return on equity of 10.65% and a net margin of 4.49%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $550.89 million. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 99.0% on a year-over-year basis. sell-side analysts predict that American Equity Investment Life will post 3.17 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Gradient Investments LLC purchased a new stake in American Equity Investment Life during the 4th quarter valued at about $101,000. Everence Capital Management Inc. acquired a new position in shares of American Equity Investment Life in the 4th quarter valued at about $209,000. V Wealth Management LLC acquired a new position in shares of American Equity Investment Life in the 4th quarter valued at about $209,000. Teacher Retirement System of Texas acquired a new position in shares of American Equity Investment Life in the 3rd quarter valued at about $203,000. Finally, Alps Advisors Inc. acquired a new position in shares of American Equity Investment Life in the 4th quarter valued at about $223,000. Institutional investors and hedge funds own 95.01% of the company’s stock.

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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.

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

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