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. American Equity Investment Life Holding Company was incorporated in 1995 and is headquartered in West Des Moines, Iowa.
Analysts Set New Price Targets
A number of brokerages recently issued reports on AEL. Evercore ISI lowered their price target on shares of American Equity Investment Life from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, July 6th. Piper Sandler decreased their price objective on shares of American Equity Investment Life from $44.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. StockNews.com downgraded shares of American Equity Investment Life from a "buy" rating to a "hold" rating in a report on Friday, May 20th. Credit Suisse Group downgraded shares of American Equity Investment Life from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $43.00 to $38.00 in a report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $43.00 to $41.00 in a report on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, American Equity Investment Life currently has a consensus rating of "Moderate Buy" and an average target price of $42.70.
American Equity Investment Life Price Performance
Shares of NYSE:AEL traded down $0.35 during midday trading on Friday, hitting $42.29. The company's stock had a trading volume of 477,814 shares, compared to its average volume of 450,555. The business's 50 day simple moving average is $37.32 and its 200 day simple moving average is $38.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.17 and a current ratio of 0.16. The company has a market cap of $3.71 billion, a P/E ratio of 3.58 and a beta of 1.06. American Equity Investment Life has a 12-month low of $27.12 and a 12-month high of $44.49.
American Equity Investment Life (NYSE:AEL - Get Rating) last posted its quarterly earnings results on Monday, August 8th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.27. The firm had revenue of $121.40 million for the quarter, compared to the consensus estimate of $628.20 million. American Equity Investment Life had a net margin of 61.05% and a return on equity of 8.22%. The company's revenue for the quarter was down 88.7% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. On average, analysts forecast that American Equity Investment Life will post 3.71 EPS for the current year.
Insider Transactions at American Equity Investment Life
In other news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the firm's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the transaction, the executive vice president now directly owns 36,439 shares of the company's stock, valued at $1,457,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.59% of the company's stock.