American Equity Investment Life Holding Company (NYSE:AEL) shares hit a new 52-week high during mid-day trading 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.

Several brokerages have recently weighed in on AEL. ValuEngine upgraded shares of American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. FBR & Co cut shares of American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and cut their target price for the company from $30.00 to $26.00 in a report on Wednesday, June 7th. Zacks Investment Research cut shares of American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, Royal Bank Of Canada lifted their target price on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.25.

The company has a 50 day moving average of $27.91 and a 200-day moving average of $25.88. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 13.56 and a beta of 2.52.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEL. UBS Asset Management Americas Inc. lifted its holdings in American Equity Investment Life Holding by 9.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 71,902 shares of the financial services provider’s stock worth $1,699,000 after buying an additional 5,952 shares during the period. Karp Capital Management Corp acquired a new position in American Equity Investment Life Holding during the 1st quarter worth about $1,276,000. Sei Investments Co. lifted its holdings in American Equity Investment Life Holding by 81.5% during the 1st quarter. Sei Investments Co. now owns 38,965 shares of the financial services provider’s stock worth $920,000 after buying an additional 17,498 shares during the period. Ameritas Investment Partners Inc. acquired a new position in American Equity Investment Life Holding during the 1st quarter worth about $175,000. Finally, Mason Street Advisors LLC lifted its holdings in American Equity Investment Life Holding by 7.2% during the 1st quarter. Mason Street Advisors LLC now owns 20,643 shares of the financial services provider’s stock worth $488,000 after buying an additional 1,391 shares during the period. 93.28% of the stock is currently owned by institutional investors.

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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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