Zacks Investment Research lowered shares of American Equity Investment Life (NYSE:AEL) from a hold rating to a sell rating in a research note published on Tuesday, 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. “

A number of other equities analysts have also recently commented on AEL. Raymond James reiterated a hold rating on shares of Broadcom in a report on Friday, June 14th. Sandler O’Neill cut American Equity Investment Life from a buy rating to a hold rating in a report on Tuesday, April 30th. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. TheStreet cut Tribune Publishing from a c- rating to a d+ rating in a report on Monday, May 20th. Finally, UBS Group lifted their price target on Tableau Software to $134.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $35.00.

Shares of NYSE AEL opened at $27.43 on Tuesday. The company has a market cap of $2.48 billion, a PE ratio of 7.00 and a beta of 2.00. The firm has a 50-day moving average of $27.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.11 and a quick ratio of 0.11. American Equity Investment Life has a fifty-two week low of $25.27 and a fifty-two week high of $38.56.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $625.65 million. During the same quarter in the previous year, the business earned $0.85 EPS. American Equity Investment Life’s revenue was up 741.8% on a year-over-year basis. On average, sell-side analysts anticipate that American Equity Investment Life will post 3.89 earnings per share for the current fiscal year.

In other American Equity Investment Life news, Director Debra J. Richardson sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $27.40, for a total transaction of $2,192,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joyce Ann Chapman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $26.90, for a total transaction of $269,000.00. Following the sale, the director now owns 24,950 shares of the company’s stock, valued at $671,155. The disclosure for this sale can be found here. Insiders have sold 122,413 shares of company stock valued at $3,336,254 in the last quarter. 1.99% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Royce & Associates LP acquired a new stake in American Equity Investment Life during the fourth quarter worth approximately $49,000. Quadrant Capital Group LLC lifted its position in American Equity Investment Life by 547.5% during the first quarter. Quadrant Capital Group LLC now owns 2,331 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,971 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of American Equity Investment Life by 45.5% in the first quarter. Global Retirement Partners LLC now owns 2,496 shares of the financial services provider’s stock valued at $67,000 after buying an additional 780 shares in the last quarter. Advisor Group Inc. raised its position in shares of American Equity Investment Life by 32.0% in the fourth quarter. Advisor Group Inc. now owns 8,787 shares of the financial services provider’s stock valued at $245,000 after buying an additional 2,129 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of American Equity Investment Life in the first quarter valued at approximately $250,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

About American Equity Investment Life

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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