American Equity Investment Life (AEL) Lowered to “Buy” at ValuEngine
ValuEngine cut shares of American Equity Investment Life (NYSE:AEL) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.
Other equities research analysts have also issued research reports about the company. Royal Bank of Canada reissued a buy rating and set a $30.00 price target on shares of American Equity Investment Life in a research note on Tuesday, October 10th. B. Riley reissued a hold rating and set a $26.00 price target on shares of American Equity Investment Life in a research note on Wednesday, November 15th. Finally, Goldman Sachs Group initiated coverage on American Equity Investment Life in a research note on Wednesday, October 18th. They set a neutral rating and a $29.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. American Equity Investment Life currently has an average rating of Hold and an average target price of $28.50.
American Equity Investment Life (AEL) opened at $30.73 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.12 and a current ratio of 0.12. American Equity Investment Life has a 52-week low of $21.66 and a 52-week high of $32.54. The stock has a market capitalization of $2,738.71, a P/E ratio of 10.67 and a beta of 2.55.
American Equity Investment Life (NYSE:AEL) last released its earnings results on Monday, November 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.33. American Equity Investment Life had a return on equity of 10.50% and a net margin of 7.90%. The company had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $615.75 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. sell-side analysts forecast that American Equity Investment Life will post 3 earnings per share for the current fiscal year.
The business also recently announced an annual dividend, which was paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th were paid a $0.26 dividend. The ex-dividend date was Tuesday, November 28th. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.24. American Equity Investment Life’s dividend payout ratio is presently 9.03%.
Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in American Equity Investment Life by 11.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock valued at $104,000 after buying an additional 414 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in American Equity Investment Life by 79.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,226 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in American Equity Investment Life in the 2nd quarter valued at approximately $174,000. Teacher Retirement System of Texas purchased a new stake in American Equity Investment Life in the 3rd quarter valued at approximately $203,000. Finally, Neuberger Berman Group LLC purchased a new stake in American Equity Investment Life in the 2nd quarter valued at approximately $203,000. 93.92% of the stock is currently owned by hedge funds and other institutional investors.
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About American Equity Investment Life
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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