American Equity Investment Life Holding Company (NYSE:AEL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full service underwriter of a broad line of annuity and insurance products, with a primary emphasis on the sale of fixed rate and index annuities. “

Several other equities analysts also recently weighed in on the stock. Royal Bank Of Canada restated a “buy” rating and set a $28.00 target price on shares of American Equity Investment Life Holding Company in a report on Monday, May 22nd. TheStreet downgraded shares of American Equity Investment Life Holding Company from a “b-” rating to a “c+” rating in a report on Monday, May 15th. Keefe, Bruyette & Woods started coverage on shares of American Equity Investment Life Holding Company in a report on Wednesday, April 26th. They set a “market perform” rating and a $26.00 target price for the company. FBR & Co downgraded shares of American Equity Investment Life Holding Company from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $30.00 to $26.00 in a report on Wednesday, June 7th. Finally, BidaskClub upgraded shares of American Equity Investment Life Holding Company from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. American Equity Investment Life Holding Company presently has an average rating of “Hold” and a consensus price target of $24.13.

American Equity Investment Life Holding Company (AEL) traded up 1.88% during trading on Friday, reaching $27.11. 352,992 shares of the company were exchanged. American Equity Investment Life Holding Company has a 12 month low of $13.07 and a 12 month high of $28.00. The stock has a 50 day moving average price of $24.79 and a 200 day moving average price of $24.37. The firm has a market capitalization of $2.41 billion, a PE ratio of 13.05 and a beta of 2.50.

American Equity Investment Life Holding Company (NYSE:AEL) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. American Equity Investment Life Holding Company had a net margin of 6.67% and a return on equity of 6.33%. The firm had revenue of $927.30 million during the quarter, compared to the consensus estimate of $532.31 million. During the same period last year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 122.1% on a year-over-year basis. On average, analysts expect that American Equity Investment Life Holding Company will post $2.48 EPS for the current fiscal year.

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In other news, Director Alan David Matula purchased 6,270 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $23.96 per share, with a total value of $150,229.20. Following the purchase, the director now directly owns 13,220 shares of the company’s stock, valued at $316,751.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.05% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Elkfork Partners LLC boosted its stake in American Equity Investment Life Holding Company by 11.0% in the first quarter. Elkfork Partners LLC now owns 4,508 shares of the financial services provider’s stock valued at $107,000 after buying an additional 448 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in American Equity Investment Life Holding Company by 11.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,474 shares of the financial services provider’s stock valued at $129,000 after buying an additional 544 shares in the last quarter. Quantbot Technologies LP purchased a new stake in American Equity Investment Life Holding Company during the first quarter valued at about $144,000. Ameritas Investment Partners Inc. purchased a new stake in American Equity Investment Life Holding Company during the first quarter valued at about $175,000. Finally, Invictus RG purchased a new stake in American Equity Investment Life Holding Company during the first quarter valued at about $182,000. 93.45% of the stock is currently owned by institutional investors.

American Equity Investment Life Holding Company Company Profile

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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

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