American Equity Investment Life Holding Co. (NYSE:AEL)’s share price was down 2.9% during mid-day trading on Friday . The company traded as low as $15.27 and last traded at $15.39, with a volume of 218,025 shares traded. The stock had previously closed at $15.85.

A number of research firms have commented on AEL. Zacks Investment Research upgraded American Equity Investment Life Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. FBR & Co reiterated an “outperform” rating and issued a $21.00 price target (up previously from $20.00) on shares of American Equity Investment Life Holding in a research report on Thursday, May 26th. JPMorgan Chase & Co. upgraded American Equity Investment Life Holding from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $23.00 to $20.00 in a research report on Monday, June 6th. Jefferies Group upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research report on Monday, June 6th. Finally, Evercore ISI began coverage on American Equity Investment Life Holding in a research report on Wednesday, July 6th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $23.67.

The firm has a market cap of $1.28 billion and a P/E ratio of 12.70. The company’s 50 day moving average is $15.28 and its 200 day moving average is $15.18.

American Equity Investment Life Holding (NYSE:AEL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The company earned $549.80 million during the quarter, compared to the consensus estimate of $467.51 million. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Equities research analysts forecast that American Equity Investment Life Holding Co. will post $2.05 earnings per share for the current year.

In other American Equity Investment Life Holding news, Director Alexander Meeker Clark sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $16.66, for a total transaction of $83,300.00. Following the sale, the director now owns 8,500 shares in the company, valued at $141,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Other large investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its stake in American Equity Investment Life Holding by 9.0% in the fourth quarter. Schroder Investment Management Group now owns 1,287,760 shares of the company’s stock worth $30,945,000 after buying an additional 105,900 shares during the last quarter. Wells Fargo & Company MN increased its stake in American Equity Investment Life Holding by 1.2% in the fourth quarter. Wells Fargo & Company MN now owns 746,648 shares of the company’s stock worth $17,941,000 after buying an additional 8,945 shares during the last quarter. Morgan Stanley increased its stake in American Equity Investment Life Holding by 10.5% in the fourth quarter. Morgan Stanley now owns 709,393 shares of the company’s stock worth $17,048,000 after buying an additional 67,131 shares during the last quarter. US Bancorp DE increased its stake in American Equity Investment Life Holding by 18.8% in the fourth quarter. US Bancorp DE now owns 98,780 shares of the company’s stock worth $2,373,000 after buying an additional 15,649 shares during the last quarter. Finally, Calvert Investment Management Inc. purchased a new stake in American Equity Investment Life Holding during the fourth quarter worth $2,312,000.

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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