American Equity Investment Life Holding Company (NYSE:AEL) had its price target boosted by Royal Bank Of Canada from $30.00 to $32.00 in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on AEL. Goldman Sachs Group, Inc. (The) initiated coverage on shares of American Equity Investment Life Holding in a research note on Wednesday, October 18th. They issued a neutral rating and a $29.00 target price on the stock. BidaskClub upgraded shares of American Equity Investment Life Holding from a buy rating to a strong-buy rating in a research note on Tuesday, July 11th. ValuEngine upgraded shares of American Equity Investment Life Holding from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods reiterated a hold rating and set a $28.00 price objective on shares of American Equity Investment Life Holding in a research note on Wednesday, August 16th. Finally, TheStreet upgraded shares of American Equity Investment Life Holding from a c+ rating to a b rating in a research note on Thursday, August 3rd. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. American Equity Investment Life Holding has an average rating of Buy and an average target price of $27.86.

American Equity Investment Life Holding (AEL) opened at $28.50 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $2,539.98, a PE ratio of 9.63 and a beta of 2.54. American Equity Investment Life Holding has a 12-month low of $19.92 and a 12-month high of $31.05.

American Equity Investment Life Holding (NYSE:AEL) last issued its earnings results on Monday, November 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.33. The business had revenue of $906.00 million for the quarter, compared to analyst estimates of $615.75 million. American Equity Investment Life Holding had a net margin of 7.90% and a return on equity of 10.82%. The company’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) EPS. equities research analysts predict that American Equity Investment Life Holding will post 2.82 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in AEL. BlackRock Inc. grew its position in American Equity Investment Life Holding by 39,171.4% in the 1st quarter. BlackRock Inc. now owns 8,551,338 shares of the financial services provider’s stock worth $202,068,000 after purchasing an additional 8,529,563 shares during the last quarter. Apollo Management Holdings L.P. grew its position in American Equity Investment Life Holding by 26.7% in the 2nd quarter. Apollo Management Holdings L.P. now owns 3,266,544 shares of the financial services provider’s stock worth $85,845,000 after purchasing an additional 688,255 shares during the last quarter. Vanguard Group Inc. grew its position in American Equity Investment Life Holding by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 8,373,032 shares of the financial services provider’s stock worth $197,855,000 after purchasing an additional 600,302 shares during the last quarter. Numeric Investors LLC grew its position in American Equity Investment Life Holding by 265.6% in the 2nd quarter. Numeric Investors LLC now owns 508,553 shares of the financial services provider’s stock worth $13,365,000 after purchasing an additional 369,453 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in American Equity Investment Life Holding by 33.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,258,753 shares of the financial services provider’s stock worth $33,080,000 after purchasing an additional 313,332 shares during the last quarter. Hedge funds and other institutional investors own 93.32% of the company’s stock.

About American Equity Investment Life Holding

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.

Analyst Recommendations for American Equity Investment Life Holding (NYSE:AEL)

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