American Equity Investment Life (NYSE:AEL)‘s stock had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $35.00 price objective on the financial services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 10.94% from the company’s current price.

AEL has been the subject of a number of other research reports. B. Riley restated a “neutral” rating on shares of American Equity Investment Life in a research report on Monday, November 6th. BidaskClub upgraded shares of American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. ValuEngine downgraded shares of American Equity Investment Life from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $28.00 price target on shares of American Equity Investment Life in a report on Wednesday, August 16th. Finally, Goldman Sachs Group assumed coverage on shares of American Equity Investment Life in a report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 price target for the company. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $28.50.

Shares of American Equity Investment Life (NYSE:AEL) traded up $0.36 on Friday, reaching $31.55. 716,600 shares of the company’s stock were exchanged, compared to its average volume of 572,914. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2,779.70, a PE ratio of 10.54 and a beta of 2.54. American Equity Investment Life has a one year low of $21.02 and a one year high of $32.50.

American Equity Investment Life (NYSE:AEL) last announced its earnings results on Monday, November 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.33. The company had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $615.75 million. American Equity Investment Life had a net margin of 7.90% and a return on equity of 10.50%. The firm’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. research analysts predict that American Equity Investment Life will post 3 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 valued at $104,000 after purchasing an additional 414 shares during the period. Riverhead Capital Management LLC grew its holdings 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 valued at $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 valued at approximately $174,000. Neuberger Berman Group LLC purchased a new stake in American Equity Investment Life in the second quarter valued at approximately $203,000. Finally, Teacher Retirement System of Texas purchased a new stake in American Equity Investment Life in the third quarter valued at approximately $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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