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American Equity Investment Life Holding (NYSE:AEL) was upgraded by investment analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.

Shares of American Equity Investment Life Holding (NYSE:AEL) traded up 1.96% during mid-day trading on Friday, hitting $20.83. 190,941 shares of the company’s stock traded hands. American Equity Investment Life Holding has a one year low of $13.41 and a one year high of $26.46. The stock’s 50-day moving average is $23.53 and its 200-day moving average is $21.96. The company has a market cap of $1.363 billion and a price-to-earnings ratio of 6.09.

American Equity Investment Life Holding (NYSE:AEL) last released its earnings data on Thursday, February 13th. The company reported $0.50 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.50. The company had revenue of $363.94 million for the quarter, compared to the consensus estimate of $304.00 million. During the same quarter last year, the company posted $0.47 earnings per share. American Equity Investment Life Holding’s revenue was up 13.3% compared to the same quarter last year. Analysts expect that American Equity Investment Life Holding will post $2.21 EPS for the current fiscal year.

Separately, analysts at FBR Capital Markets downgraded shares of American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 9th. They now have a $25.00 price target on the stock, up previously from $23.00. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. American Equity Investment Life Holding has a consensus rating of “Hold” and an average target price of $24.06.

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products.

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