American Equity Investment Life (AEL) Rating Lowered to Sell at ValuEngine

American Equity Investment Life (NYSE:AEL) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Royal Bank of Canada set a $38.00 price objective on shares of American Equity Investment Life and gave the stock a “buy” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.40.

American Equity Investment Life stock opened at $30.72 on Thursday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 9.72 and a beta of 2.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. American Equity Investment Life has a fifty-two week low of $27.06 and a fifty-two week high of $38.56.

American Equity Investment Life (NYSE:AEL) last released its earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.99. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $600.27 million. American Equity Investment Life had a net margin of 13.62% and a return on equity of 12.77%. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Equities analysts forecast that American Equity Investment Life will post 3.68 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Clearbridge Investments LLC increased its holdings in shares of American Equity Investment Life by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,510,431 shares of the financial services provider’s stock worth $53,409,000 after purchasing an additional 20,175 shares during the period. Vanguard Group Inc. increased its stake in American Equity Investment Life by 1.8% in the third quarter. Vanguard Group Inc. now owns 9,946,945 shares of the financial services provider’s stock valued at $351,723,000 after acquiring an additional 178,741 shares during the period. Morgan Stanley increased its stake in American Equity Investment Life by 94.4% in the third quarter. Morgan Stanley now owns 404,335 shares of the financial services provider’s stock valued at $14,297,000 after acquiring an additional 196,299 shares during the period. Legal & General Group Plc increased its stake in American Equity Investment Life by 7.0% in the third quarter. Legal & General Group Plc now owns 241,906 shares of the financial services provider’s stock valued at $8,550,000 after acquiring an additional 15,837 shares during the period. Finally, Kepos Capital LP bought a new stake in American Equity Investment Life in the third quarter valued at about $423,000. Institutional investors own 92.94% of the company’s stock.

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

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