American Equity Investment Life Holding Company (NYSE:AEL) shares reached a new 52-week high on Thursday . The company traded as high as $29.44 and last traded at $29.44, with a volume of 272,891 shares. The stock had previously closed at $29.04.

A number of brokerages have recently issued reports on AEL. Zacks Investment Research upgraded shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, August 8th. TheStreet upgraded shares of American Equity Investment Life Holding from a “c+” rating to a “b” rating in a report on Thursday, August 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $28.00 price target on shares of American Equity Investment Life Holding in a report on Wednesday, August 16th. Royal Bank Of Canada raised their price target on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, BidaskClub upgraded shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.25.

The stock has a 50 day moving average price of $28.02 and a 200 day moving average price of $25.94. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.68 and a beta of 2.52.

American Equity Investment Life Holding (NYSE:AEL) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.12. The business had revenue of $819.10 million for the quarter, compared to the consensus estimate of $531.83 million. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Analysts forecast that American Equity Investment Life Holding Company will post $2.63 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan lifted its stake in shares of American Equity Investment Life Holding by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 20,970 shares of the financial services provider’s stock valued at $551,000 after buying an additional 840 shares during the period. Pzena Investment Management LLC lifted its stake in shares of American Equity Investment Life Holding by 0.4% during the second quarter. Pzena Investment Management LLC now owns 2,437,159 shares of the financial services provider’s stock valued at $64,049,000 after buying an additional 9,196 shares during the period. KBC Group NV purchased a new position in shares of American Equity Investment Life Holding during the second quarter valued at approximately $1,448,000. Sei Investments Co. lifted its stake in shares of American Equity Investment Life Holding by 81.5% during the first quarter. Sei Investments Co. now owns 38,965 shares of the financial services provider’s stock valued at $920,000 after buying an additional 17,498 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of American Equity Investment Life Holding by 12.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 615,136 shares of the financial services provider’s stock valued at $14,536,000 after buying an additional 66,808 shares during the period. 93.28% of the stock is currently owned by institutional investors and hedge funds.

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American Equity Investment Life Holding 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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