American Equity Investment Life (NYSE: AEL) Equity Rating Improved by Evercore ISI
American Equity Investment Life (NYSE: AEL) was raised by Evercore ISI from an “online” rating to an “outperforming” rating in a research note published Wednesday, Fly reports. The brokerage currently has a price target of $ 46.00 on shares of the financial services provider, up from its previous price target of $ 34.00. Evercore ISI’s price target would suggest a potential rise of 13.55% from the security’s previous close.
A number of other brokerages have also recently published reports on the AEL. Raymond James raised his price target on American Equity Investment Life from $ 37.00 to $ 40.00 and gave the stock an “outperformance” rating in a research report on Thursday, November 18. Piper Sandler upgraded American Equity Investment Life from a “neutral” to an “overweight” rating and increased its target price for the share from $ 36.00 to $ 46.00 in a research report released Wednesday. JPMorgan Chase & Co. raised its price target on American Equity Investment Life from $ 37.00 to $ 41.00 in a research report released Tuesday. Keefe, Bruyette & Woods upgraded American Equity Investment Life from a “market performance” rating to an “outperformance” rating and set a price target of $ 42.00 for the company in a research report released on Wednesday 1 December. Finally, Zacks investment research reduced American Equity Investment Life from a “strong buy” rating to a “conservation” rating and set a price target of $ 42.00 for the company. in a research report Tuesday. Four equity research analysts rated the stock with a conservation rating and eight issued a buy rating for the company. According to MarketBeat.com, American Equity Investment Life currently has a consensus rating of “Buy” and an average price target of $ 40.15.
NYSE: AEL open at $ 40.51 Wednesday. The stock’s 50-day moving average price is $ 36.20, and its 200-day moving average price is $ 33.15. American Equity Investment Life has a 52 week low at $ 26.21 and a 52 week high at $ 41.49. The company has a market cap of $ 3.75 billion, a P / E ratio of 11.28 and a beta of 1.21. The company has a debt to equity ratio of 0.09, a quick ratio of 0.34, and a current ratio of 0.34.
American Equity Investment Life (NYSE: AEL) last released its quarterly earnings data on Monday, November 8. The financial services provider reported EPS of $ 1.46 for the quarter, beating consensus analysts’ estimates of $ 0.76 by $ 0.70. American Equity Investment Life recorded a return on equity of 5.87% and a net margin of 10.79%. The company posted revenue of $ 542.56 million for the quarter, compared to a consensus estimate of $ 578.71 million. In the same quarter of the previous year, the company posted earnings per share of $ 0.99. The company’s revenue was down 32.1% year-on-year. As a group, sell-side analysts predict that American Equity Investment Life will post earnings per share of 3.87 for the current fiscal year.
Separately, CEO Anant Bhalla sold 10,214 shares of the company in a trade on Tuesday, November 30. The stock was sold for an average price of $ 29.64, for a total value of $ 302,742.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s shares.
Institutional investors have recently increased or reduced their stakes in the company. Balyasny Asset Management LLC increased its stake in American Equity Investment Life shares by 12.8% in the third quarter. Balyasny Asset Management LLC now owns 297,013 shares of the financial services provider valued at $ 8,783,000 after purchasing an additional 33,611 shares in the last quarter. Comerica Bank increased its stake in American Equity Investment Life shares by 82.7% in the third quarter. Comerica Bank now owns 147,313 shares of the financial services provider valued at $ 4,988,000 after purchasing an additional 66,685 shares in the last quarter. Gyon Technologies Capital Management LP acquired a new equity interest in American Equity Investment Life in the third quarter valued at $ 1,129,000. Schonfeld Strategic Advisors LLC increased its stake in American Equity Investment Life shares by 21.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 54,827 shares of the financial services provider valued at $ 1,620,000 after purchasing an additional 9,527 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new stake in American Equity Investment Life shares in the third quarter valued at $ 6,862,000. Hedge funds and other institutional investors hold 90.64% of the company’s shares.
About American Equity Investment Life
American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.
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