Trading Report: Today, American Equity Investment Life Holding Co. (AEL) Upgraded to “Hold” by Zacks Investment Research

Today, American Equity Investment Life Holding Co. (AEL) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of American Equity Investment Life Holding Co. (NYSE:AEL) from a sell rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full service underwriter of a broad line of annuity and insurance products, with a primary emphasis on the sale of fixed rate and index annuities. “

AEL has been the subject of a number of other reports. Credit Suisse Group AG initiated coverage on shares of American Equity Investment Life Holding in a report on Friday, October 7th. They issued a neutral rating and a $20.00 target price for the company. TheStreet upgraded shares of American Equity Investment Life Holding from a hold rating to a buy rating in a report on Thursday, August 18th. Evercore ISI initiated coverage on shares of American Equity Investment Life Holding in a report on Wednesday, July 6th. They issued a buy rating for the company. Finally, Citigroup Inc. reduced their target price on shares of American Equity Investment Life Holding from $20.00 to $18.00 and set a buy rating for the company in a report on Thursday, July 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $22.17.

American Equity Investment Life Holding (NYSE:AEL) opened at 17.87 on Tuesday. The stock has a market cap of $1.47 billion, a P/E ratio of 14.54 and a beta of 2.33. American Equity Investment Life Holding has a one year low of $12.65 and a one year high of $28.30. The firm’s 50-day moving average is $17.80 and its 200 day moving average is $15.98.

American Equity Investment Life Holding (NYSE:AEL) last announced its earnings results on Wednesday, August 3rd. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.01. The firm earned $549.80 million during the quarter, compared to the consensus estimate of $467.51 million. American Equity Investment Life Holding had a return on equity of 7.48% and a net margin of 6.17%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, analysts anticipate that American Equity Investment Life Holding will post $2.05 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. increased its position in shares of American Equity Investment Life Holding by 5.7% in the third quarter. Capstone Asset Management Co. now owns 30,203 shares of the company’s stock valued at $535,000 after buying an additional 1,620 shares during the period. Eagle Boston Investment Management Inc. increased its position in shares of American Equity Investment Life Holding by 0.8% in the third quarter. Eagle Boston Investment Management Inc. now owns 363,269 shares of the company’s stock valued at $6,440,000 after buying an additional 2,871 shares during the period. Macquarie Group Ltd. increased its position in shares of American Equity Investment Life Holding by 17.2% in the second quarter. Macquarie Group Ltd. now owns 3,336,046 shares of the company’s stock valued at $47,539,000 after buying an additional 490,506 shares during the period. Mason Street Advisors LLC acquired a new position in shares of American Equity Investment Life Holding during the second quarter valued at $229,000. Finally, Aristotle Capital Boston LLC increased its position in shares of American Equity Investment Life Holding by 3.4% in the second quarter. Aristotle Capital Boston LLC now owns 262,499 shares of the company’s stock valued at $3,741,000 after buying an additional 8,567 shares during the period. Institutional investors own 87.74% of the company’s stock.

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.

Related posts

Leave a Comment