American Equity Investment Life (AEL) Raised to Hold at Zacks Investment Research

American Equity Investment Life (NYSE:AEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 cut shares of American Equity Investment Life from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. One equities 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 company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.67.

Shares of NYSE AEL traded up $0.86 during midday trading on Tuesday, hitting $28.95. 216,596 shares of the company traded hands, compared to its average volume of 474,660. American Equity Investment Life has a 12-month low of $25.27 and a 12-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 stock has a market capitalization of $2.60 billion, a P/E ratio of 6.21 and a beta of 2.28.

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

Large investors have recently bought and sold shares of the stock. Comerica Bank lifted its stake in shares of American Equity Investment Life by 0.4% in the fourth quarter. Comerica Bank now owns 89,601 shares of the financial services provider’s stock worth $2,740,000 after buying an additional 330 shares in the last quarter. Gradient Investments LLC lifted its stake in shares of American Equity Investment Life by 12.2% in the fourth quarter. Gradient Investments LLC now owns 4,149 shares of the financial services provider’s stock worth $116,000 after buying an additional 450 shares in the last quarter. Vigilant Capital Management LLC lifted its stake in shares of American Equity Investment Life by 16.1% in the fourth quarter. Vigilant Capital Management LLC now owns 3,600 shares of the financial services provider’s stock worth $101,000 after buying an additional 500 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of American Equity Investment Life by 1.8% in the fourth quarter. State of Alaska Department of Revenue now owns 30,211 shares of the financial services provider’s stock worth $844,000 after buying an additional 530 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of American Equity Investment Life by 9.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,032 shares of the financial services provider’s stock worth $196,000 after buying an additional 580 shares in the last quarter. 94.55% of the stock is currently 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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