Goldman Sachs Group, Inc. (The) Begins Coverage on American Equity Investment Life Holding Company (NYSE:AEL)

Goldman Sachs Group, Inc. (The) began coverage on shares of American Equity Investment Life Holding Company (NYSE:AEL) in a research report report published on Wednesday, October 18th. The firm issued a neutral rating and a $29.00 price target on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of American Equity Investment Life Holding from a hold rating to a buy rating and set a $31.00 price objective for the company in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $28.00 target price on shares of American Equity Investment Life Holding in a research report on Wednesday, August 16th. TheStreet upgraded shares of American Equity Investment Life Holding from a c+ rating to a b rating in a research report on Thursday, August 3rd. Royal Bank Of Canada raised their price objective on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an outperform rating in a research report on Friday, August 4th. Finally, BidaskClub raised shares of American Equity Investment Life Holding from a buy rating to a strong-buy rating in a research note on Wednesday, August 16th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $26.38.

American Equity Investment Life Holding (AEL) opened at 30.23 on Wednesday. The stock has a 50 day moving average price of $28.75 and a 200-day moving average price of $26.54. American Equity Investment Life Holding has a 52 week low of $15.39 and a 52 week high of $30.51. The company has a market capitalization of $2.69 billion, a PE ratio of 13.92 and a beta of 2.52.

American Equity Investment Life Holding (NYSE:AEL) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. The business had revenue of $819.10 million for the quarter, compared to analyst estimates of $531.83 million. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. American Equity Investment Life Holding’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. On average, equities analysts predict that American Equity Investment Life Holding will post $2.64 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in AEL. BlackRock Inc. increased its holdings in shares of American Equity Investment Life Holding by 39,171.4% in the 1st quarter. BlackRock Inc. now owns 8,551,338 shares of the financial services provider’s stock valued at $202,068,000 after acquiring an additional 8,529,563 shares during the period. Apollo Management Holdings L.P. increased its holdings in shares of American Equity Investment Life Holding by 26.7% in the 2nd quarter. Apollo Management Holdings L.P. now owns 3,266,544 shares of the financial services provider’s stock valued at $85,845,000 after acquiring an additional 688,255 shares during the period. Vanguard Group Inc. increased its holdings in shares of American Equity Investment Life Holding by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 8,373,032 shares of the financial services provider’s stock valued at $197,855,000 after acquiring an additional 600,302 shares during the period. Bank of America Corp DE grew its position in American Equity Investment Life Holding by 68.6% in the 1st quarter. Bank of America Corp DE now owns 1,363,485 shares of the financial services provider’s stock valued at $32,219,000 after buying an additional 554,672 shares during the last quarter. Finally, Numeric Investors LLC grew its position in American Equity Investment Life Holding by 265.6% in the 2nd quarter. Numeric Investors LLC now owns 508,553 shares of the financial services provider’s stock valued at $13,365,000 after buying an additional 369,453 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

American Equity Investment Life Holding 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 Holding (NYSE:AEL)

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