American Equity Investment Life Holding Company (NYSE:AEL) had its target price lifted by equities researchers at Royal Bank Of Canada from $28.00 to $30.00 in a note issued to investors on Friday, MarketBeat.com reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 9.77% from the company’s previous close.

Other analysts have also recently issued research reports about the company. BidaskClub upgraded American Equity Investment Life Holding from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 11th. Zacks Investment Research cut American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a report on Friday, July 7th. TheStreet cut American Equity Investment Life Holding from a “b-” rating to a “c+” rating in a report on Monday, May 15th. FBR & Co cut American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $30.00 to $26.00 in a report on Wednesday, June 7th. Finally, Keefe, Bruyette & Woods started coverage on American Equity Investment Life Holding in a report on Wednesday, April 26th. They issued a “market perform” rating and a $26.00 price target for the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $24.38.

Shares of American Equity Investment Life Holding (NYSE:AEL) remained flat at $27.33 on Friday. The stock had a trading volume of 565,982 shares. The firm has a 50 day moving average of $26.49 and a 200-day moving average of $25.11. The firm has a market cap of $2.43 billion, a PE ratio of 12.50 and a beta of 2.49. American Equity Investment Life Holding has a 52 week low of $15.21 and a 52 week high of $28.32.

American Equity Investment Life Holding (NYSE:AEL) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.59 by $0.12. The company had revenue of $819.10 million during the quarter, compared to analysts’ expectations of $531.83 million. American Equity Investment Life Holding had a return on equity of 6.84% and a net margin of 6.48%. The firm’s revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. On average, analysts anticipate that American Equity Investment Life Holding will post $2.56 EPS for the current fiscal year.

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In other news, Director Alan David Matula bought 6,270 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $23.96 per share, for a total transaction of $150,229.20. Following the acquisition, the director now owns 13,220 shares of the company’s stock, valued at $316,751.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.05% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of AEL. Norges Bank bought a new position in American Equity Investment Life Holding during the fourth quarter worth $19,190,000. Bank of Montreal Can boosted its position in American Equity Investment Life Holding by 1,380.4% in the first quarter. Bank of Montreal Can now owns 150,852 shares of the financial services provider’s stock worth $3,564,000 after buying an additional 140,662 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in American Equity Investment Life Holding by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the financial services provider’s stock worth $851,000 after buying an additional 600 shares in the last quarter. State of Alaska Department of Revenue boosted its position in American Equity Investment Life Holding by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 9,790 shares of the financial services provider’s stock worth $231,000 after buying an additional 270 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in American Equity Investment Life Holding by 15.9% in the first quarter. ProShare Advisors LLC now owns 325,403 shares of the financial services provider’s stock worth $7,689,000 after buying an additional 44,704 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

About American Equity Investment Life Holding

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.

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

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