American Equity Investment Life (NYSE:AEL) had its price target lifted by investment analysts at B. Riley from $26.00 to $30.00 in a report released on Wednesday, MarketBeat.com reports. The firm currently has a “neutral” rating on the financial services provider’s stock. B. Riley’s target price suggests a potential downside of 3.82% from the company’s previous close.

AEL has been the topic of several other research reports. Royal Bank Of Canada increased their price target on American Equity Investment Life from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. ValuEngine upgraded American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 22nd. BidaskClub lowered American Equity Investment Life from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Goldman Sachs Group initiated coverage on American Equity Investment Life in a report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 price target on the stock. Finally, Zacks Investment Research upgraded American Equity Investment Life from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.13.

American Equity Investment Life (NYSE:AEL) traded down $0.08 during trading hours on Wednesday, reaching $31.19. The company had a trading volume of 732,068 shares, compared to its average volume of 572,275. American Equity Investment Life has a one year low of $21.02 and a one year high of $32.50. The stock has a market cap of $2,780.00, a price-to-earnings ratio of 10.74 and a beta of 2.54. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.27.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.33. American Equity Investment Life had a return on equity of 10.50% and a net margin of 7.90%. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $615.75 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. American Equity Investment Life’s quarterly revenue was up 43.8% compared to the same quarter last year. analysts anticipate that American Equity Investment Life will post 2.99 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in American Equity Investment Life by 11.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,948 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 414 shares during the period. Riverhead Capital Management LLC increased its stake in American Equity Investment Life by 79.5% in the second quarter. Riverhead Capital Management LLC now owns 5,026 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 2,226 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in American Equity Investment Life in the second quarter worth $174,000. Neuberger Berman Group LLC purchased a new stake in American Equity Investment Life in the second quarter worth $203,000. Finally, Teacher Retirement System of Texas purchased a new stake in American Equity Investment Life in the third quarter worth $203,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

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About American Equity Investment Life

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 (NYSE:AEL)

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