American Equity Investment Life (NYSE:AEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Other equities analysts have also issued research reports about the company. B. Riley reiterated a “neutral” rating on shares of American Equity Investment Life in a research note on Tuesday, October 15th. Citigroup dropped their target price on American Equity Investment Life from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Finally, ValuEngine upgraded American Equity Investment Life from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $27.25.

Shares of NYSE AEL traded up $0.19 during trading on Wednesday, reaching $28.40. 397,828 shares of the company traded hands, compared to its average volume of 450,378. The firm’s fifty day simple moving average is $24.24 and its 200 day simple moving average is $25.78. The stock has a market cap of $2.39 billion, a P/E ratio of 6.09 and a beta of 1.97. American Equity Investment Life has a 12-month low of $20.16 and a 12-month high of $36.06. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $2.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $1.56. The company had revenue of $643.40 million for the quarter, compared to analysts’ expectations of $641.01 million. The business’s quarterly revenue was down 46.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 EPS. As a group, research analysts expect that American Equity Investment Life will post 4.04 EPS for the current year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of American Equity Investment Life by 1.0% during the 2nd quarter. BlackRock Inc. now owns 13,282,923 shares of the financial services provider’s stock valued at $360,762,000 after acquiring an additional 134,617 shares during the period. Vanguard Group Inc. grew its position in shares of American Equity Investment Life by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 10,720,255 shares of the financial services provider’s stock valued at $291,162,000 after acquiring an additional 110,086 shares during the period. Macquarie Group Ltd. grew its position in shares of American Equity Investment Life by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 4,301,470 shares of the financial services provider’s stock valued at $116,828,000 after acquiring an additional 133,419 shares during the period. Earnest Partners LLC grew its position in shares of American Equity Investment Life by 1.5% during the 2nd quarter. Earnest Partners LLC now owns 2,620,173 shares of the financial services provider’s stock valued at $71,164,000 after acquiring an additional 39,422 shares during the period. Finally, Northern Trust Corp grew its position in shares of American Equity Investment Life by 1.6% during the 2nd quarter. Northern Trust Corp now owns 2,328,788 shares of the financial services provider’s stock valued at $63,249,000 after acquiring an additional 35,829 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.

American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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