American Equity Investment Life (AEL) Cut to “Buy” at ValuEngine

American Equity Investment Life (NYSE:AEL) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Friday, December 29th.

A number of other analysts have also recently weighed in on AEL. Royal Bank of Canada reissued a “buy” rating and set a $30.00 target price on shares of American Equity Investment Life in a report on Tuesday, October 10th. Goldman Sachs Group initiated coverage on shares of American Equity Investment Life in a report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 target price on the stock. Finally, B. Riley reissued a “neutral” rating on shares of American Equity Investment Life in a report on Monday, November 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. American Equity Investment Life has an average rating of “Hold” and a consensus target price of $29.14.

American Equity Investment Life (NYSE:AEL) opened at $33.96 on Friday. The firm has a market cap of $3,026.58, a price-to-earnings ratio of 11.47 and a beta of 2.55. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.27. American Equity Investment Life has a 52 week low of $21.90 and a 52 week high of $34.46.

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

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of American Equity Investment Life by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,823,142 shares of the financial services provider’s stock worth $231,872,000 after acquiring an additional 450,110 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of American Equity Investment Life by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,458,013 shares of the financial services provider’s stock worth $195,997,000 after acquiring an additional 38,858 shares during the period. Macquarie Group Ltd. increased its stake in American Equity Investment Life by 3.1% during the 3rd quarter. Macquarie Group Ltd. now owns 3,599,783 shares of the financial services provider’s stock valued at $104,681,000 after buying an additional 109,163 shares during the period. Apollo Management Holdings L.P. increased its stake in American Equity Investment Life by 26.7% during 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 buying an additional 688,255 shares during the period. Finally, Earnest Partners LLC increased its stake in American Equity Investment Life by 1.8% during the 3rd quarter. Earnest Partners LLC now owns 2,711,974 shares of the financial services provider’s stock valued at $78,864,000 after buying an additional 47,642 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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Analyst Recommendations for American Equity Investment Life (NYSE:AEL)

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