American Equity Investment Life (NYSE:AEL) Reaches New 12-Month High at $56.30

Shares of American Equity Investment Life Holding (NYSE:AEL - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $56.30 and last traded at $56.25, with a volume of 180926 shares traded. The stock had previously closed at $56.00.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com assumed coverage on American Equity Investment Life in a research note on Monday, March 11th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods raised their price target on American Equity Investment Life from $55.00 to $56.00 and gave the company a "market perform" rating in a research note on Friday, February 16th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $50.00.

American Equity Investment Life Stock Performance

The business has a 50-day moving average of $55.68 and a two-hundred day moving average of $54.95. The company has a market cap of $4.47 billion, a P/E ratio of 26.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.34 and a quick ratio of 0.34.

American Equity Investment Life (NYSE:AEL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.24. American Equity Investment Life had a return on equity of 25.15% and a net margin of 7.42%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $673.53 million. During the same quarter last year, the company earned $1.64 earnings per share. The firm's revenue for the quarter was up 61.7% compared to the same quarter last year. On average, sell-side analysts predict that American Equity Investment Life Holding will post 7.11 EPS for the current fiscal year.

Institutional Investors Weigh In On American Equity Investment Life

Several institutional investors have recently added to or reduced their stakes in AEL. The Manufacturers Life Insurance Company raised its stake in shares of American Equity Investment Life by 5,296.0% in the third quarter. The Manufacturers Life Insurance Company now owns 1,669,263 shares of the financial services provider's stock worth $89,539,000 after purchasing an additional 1,638,328 shares during the last quarter. Soros Fund Management LLC purchased a new position in American Equity Investment Life during the third quarter valued at approximately $71,649,000. Alpine Associates Management Inc. purchased a new position in American Equity Investment Life during the third quarter valued at approximately $51,012,000. Norges Bank purchased a new position in American Equity Investment Life during the fourth quarter valued at approximately $50,560,000. Finally, Picton Mahoney Asset Management purchased a new position in American Equity Investment Life during the third quarter valued at approximately $26,850,000. Institutional investors and hedge funds own 94.98% of the company's stock.

American Equity Investment Life Company Profile

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