American Equity Investment Life (NYSE:AEL) Downgraded to Strong Sell at ValuEngine

American Equity Investment Life (NYSE:AEL) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of American Equity Investment Life from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a report on Monday, January 20th. TheStreet cut shares of American Equity Investment Life from a “b-” rating to a “c+” rating in a report on Friday, March 13th. Piper Sandler raised shares of American Equity Investment Life from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $30.00 to $25.00 in a report on Tuesday, March 10th. B. Riley lowered their target price on shares of American Equity Investment Life from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Royal Bank of Canada cut shares of American Equity Investment Life from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $32.00 to $18.00 in a report on Friday, March 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $29.00.

American Equity Investment Life stock traded up $1.94 during trading on Wednesday, hitting $18.06. The stock had a trading volume of 1,110,983 shares, compared to its average volume of 650,186. American Equity Investment Life has a 1 year low of $9.07 and a 1 year high of $34.16. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $24.58 and its two-hundred day moving average is $26.41. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 6.74 and a beta of 1.85.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.33. American Equity Investment Life had a net margin of 7.10% and a return on equity of 14.49%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $661.79 million. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, equities research analysts anticipate that American Equity Investment Life will post 4.89 EPS for the current fiscal year.

In other news, Director Debra J. Richardson sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $33.20, for a total value of $664,000.00. Following the transaction, the director now owns 106,022 shares of the company’s stock, valued at $3,519,930.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Anant Bhalla purchased 4,075 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was purchased at an average cost of $11.83 per share, for a total transaction of $48,207.25. Following the acquisition, the chief executive officer now owns 475 shares of the company’s stock, valued at approximately $5,619.25. The disclosure for this purchase can be found here. Corporate insiders own 1.99% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its stake in American Equity Investment Life by 1.7% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 27,840 shares of the financial services provider’s stock valued at $833,000 after acquiring an additional 460 shares during the last quarter. Stifel Financial Corp increased its stake in American Equity Investment Life by 0.6% in the third quarter. Stifel Financial Corp now owns 89,317 shares of the financial services provider’s stock valued at $2,161,000 after acquiring an additional 489 shares during the last quarter. First Hawaiian Bank increased its stake in American Equity Investment Life by 1.8% in the fourth quarter. First Hawaiian Bank now owns 29,837 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 520 shares during the last quarter. Comerica Bank increased its stake in American Equity Investment Life by 0.8% in the fourth quarter. Comerica Bank now owns 86,582 shares of the financial services provider’s stock valued at $2,366,000 after acquiring an additional 655 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in American Equity Investment Life by 12.8% in the third quarter. Public Employees Retirement System of Ohio now owns 6,944 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 789 shares during the last quarter. 95.12% of the stock is currently owned by hedge funds and other institutional investors.

American Equity Investment Life Company Profile

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

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