American Equity Investment Life Holding Company (NYSE:AEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $31.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.35% from the stock’s current price.

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. TheStreet upgraded shares of American Equity Investment Life Holding from a “c+” rating to a “b” rating in a report on Thursday, August 3rd. Royal Bank Of Canada lifted their price target on shares of American Equity Investment Life Holding from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday. BidaskClub downgraded shares of American Equity Investment Life Holding from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. FBR & Co downgraded shares of American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $30.00 to $26.00 in a report on Wednesday, June 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of American Equity Investment Life Holding in a report on Wednesday, April 26th. They set a “market perform” rating and a $26.00 price target for the company. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. American Equity Investment Life Holding presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Shares of American Equity Investment Life Holding (AEL) traded up 1.35% during mid-day trading on Tuesday, reaching $27.72. 299,530 shares of the company traded hands. The stock’s 50-day moving average is $26.49 and its 200-day moving average is $25.11. The company has a market capitalization of $2.46 billion, a P/E ratio of 12.67 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 earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.12. American Equity Investment Life Holding had a net margin of 6.48% and a return on equity of 6.84%. The firm had revenue of $819.10 million during the quarter, compared to the consensus estimate of $531.83 million. During the same period last year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. On average, equities analysts predict 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 purchased 6,270 shares of the stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $23.96 per share, for a total transaction of $150,229.20. Following the completion of the acquisition, the director now directly owns 13,220 shares in the company, valued at approximately $316,751.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.05% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company bought a new stake in American Equity Investment Life Holding during the fourth quarter valued at about $0. Tower Research Capital LLC TRC boosted its stake in American Equity Investment Life Holding by 1,507.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,313 shares of the financial services provider’s stock valued at $104,000 after buying an additional 6,858 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in American Equity Investment Life Holding by 11.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock valued at $104,000 after buying an additional 414 shares in the last quarter. Elkfork Partners LLC boosted its stake in American Equity Investment Life Holding 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. Finally, Public Employees Retirement System of Ohio boosted its stake in American Equity Investment Life Holding by 21.0% in the second quarter. Public Employees Retirement System of Ohio now owns 7,673 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,331 shares in the last quarter. 93.25% of the stock is currently owned by institutional investors and hedge funds.

American Equity Investment Life Holding 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 (NYSE:AEL)

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