Shares of American Equity Investment Life Holding Co. (NYSE:AEL) gapped up prior to trading on Friday . The stock had previously closed at $17.07, but opened at $17.11. American Equity Investment Life Holding shares last traded at $17.22, with a volume of 404,960 shares trading hands.

Several analysts have issued reports on the company. Zacks Investment Research upgraded American Equity Investment Life Holding from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. FBR & Co restated an “outperform” rating and issued a $21.00 target price (up from $20.00) on shares of American Equity Investment Life Holding in a research note on Thursday, May 26th. Citigroup Inc. lowered their target price on American Equity Investment Life Holding from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Evercore ISI initiated coverage on American Equity Investment Life Holding in a research report on Wednesday, July 6th. They issued a “buy” rating for the company. Finally, TheStreet upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $23.67.

The company has a 50-day moving average of $15.99 and a 200-day moving average of $15.19. The firm has a market capitalization of $1.43 billion and a price-to-earnings ratio of 14.17.

American Equity Investment Life Holding (NYSE:AEL) last issued its earnings results on Wednesday, August 3rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by $0.01. During the same quarter last year, the company posted $0.64 EPS. The business earned $549.80 million during the quarter, compared to analyst estimates of $467.51 million. The company’s revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that American Equity Investment Life Holding Co. will post $2.05 EPS for the current year.

In other American Equity Investment Life Holding news, Director Alexander Meeker Clark sold 5,000 shares of the stock in a transaction on 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 directly owns 8,500 shares in the company, valued at approximately $141,610. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

An institutional investor recently raised its position in American Equity Investment Life Holding stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of American Equity Investment Life Holding Co. (NYSE:AEL) by 66.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 46,400 shares of the company’s stock after buying an additional 18,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of American Equity Investment Life Holding worth $1,115,000 as of its most recent filing with the SEC.

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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