Zacks: Analysts Anticipate American Equity Investment Life Holding (AEL) Will Post Earnings of $0.85 Per Share

Wall Street brokerages forecast that American Equity Investment Life Holding (NYSE:AEL) will post earnings of $0.85 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for American Equity Investment Life’s earnings, with estimates ranging from $0.83 to $0.86. American Equity Investment Life posted earnings per share of $0.71 in the same quarter last year, which would suggest a positive year over year growth rate of 19.7%. The firm is scheduled to issue its next earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that American Equity Investment Life will report full-year earnings of $3.43 per share for the current fiscal year, with EPS estimates ranging from $3.37 to $3.50. For the next year, analysts anticipate that the business will post earnings of $3.64 per share, with EPS estimates ranging from $3.51 to $3.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. American Equity Investment Life had a net margin of 8.49% and a return on equity of 11.22%. The firm had revenue of $510.78 million for the quarter, compared to the consensus estimate of $514.11 million. During the same period in the prior year, the firm posted $0.66 earnings per share.

A number of brokerages recently weighed in on AEL. ValuEngine downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Zacks Investment Research raised shares of American Equity Investment Life from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Monday, May 28th. Finally, UBS Group raised shares of American Equity Investment Life from a “sell” rating to a “neutral” rating in a research note on Friday, May 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.71.

In related news, CEO John M. Matovina sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $31.85, for a total value of $637,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ronald James Grensteiner sold 47,750 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $30.20, for a total transaction of $1,442,050.00. Following the completion of the sale, the insider now directly owns 122,792 shares in the company, valued at $3,708,318.40. The disclosure for this sale can be found here. Insiders sold 95,770 shares of company stock worth $2,936,742 over the last ninety days. 1.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in American Equity Investment Life by 1.0% during the fourth quarter. BlackRock Inc. now owns 8,650,523 shares of the financial services provider’s stock valued at $265,830,000 after acquiring an additional 87,001 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of American Equity Investment Life by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 7,569,688 shares of the financial services provider’s stock worth $222,246,000 after purchasing an additional 25,141 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of American Equity Investment Life by 1.5% in the first quarter. Earnest Partners LLC now owns 2,661,076 shares of the financial services provider’s stock worth $78,129,000 after purchasing an additional 39,246 shares during the last quarter. Northern Trust Corp grew its holdings in shares of American Equity Investment Life by 5.5% in the first quarter. Northern Trust Corp now owns 2,311,438 shares of the financial services provider’s stock worth $67,864,000 after purchasing an additional 121,431 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of American Equity Investment Life by 99.8% in the first quarter. Prudential Financial Inc. now owns 2,029,858 shares of the financial services provider’s stock worth $59,596,000 after purchasing an additional 1,013,993 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Shares of American Equity Investment Life traded up $0.04, reaching $35.95, on Friday, MarketBeat reports. The stock had a trading volume of 44,250 shares, compared to its average volume of 594,677. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 11.33 and a beta of 2.48. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. American Equity Investment Life has a 1 year low of $24.51 and a 1 year high of $37.16.

American Equity Investment Life Company Profile

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. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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Earnings History and Estimates for American Equity Investment Life (NYSE:AEL)

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