American Equity Investment Life (NYSE:AEL) Price Target Cut to $32.00

American Equity Investment Life (NYSE:AEL) had its price target reduced by equities researchers at Raymond James from $38.00 to $32.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective would indicate a potential upside of 16.83% from the stock’s previous close.

Several other equities research analysts also recently commented on AEL. Zacks Investment Research upgraded shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. ValuEngine downgraded shares of American Equity Investment Life from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, Sandler O’Neill downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $35.00.

AEL opened at $27.39 on Friday. American Equity Investment Life has a 1-year low of $25.27 and a 1-year high of $38.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market capitalization of $2.44 billion, a PE ratio of 5.88 and a beta of 2.17.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. American Equity Investment Life had a net margin of 13.62% and a return on equity of 13.92%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $625.65 million. During the same period last year, the company posted $0.85 EPS. The firm’s quarterly revenue was up 741.8% compared to the same quarter last year. On average, analysts expect that American Equity Investment Life will post 3.91 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in American Equity Investment Life in the 4th quarter valued at $38,177,000. Oregon Public Employees Retirement Fund purchased a new position in American Equity Investment Life during the 4th quarter worth $34,000. Acadian Asset Management LLC boosted its holdings in American Equity Investment Life by 300.4% during the 1st quarter. Acadian Asset Management LLC now owns 482,329 shares of the financial services provider’s stock worth $13,034,000 after acquiring an additional 361,865 shares during the last quarter. BlackRock Inc. boosted its holdings in American Equity Investment Life by 2.5% during the 4th quarter. BlackRock Inc. now owns 13,183,271 shares of the financial services provider’s stock worth $368,342,000 after acquiring an additional 327,661 shares during the last quarter. Finally, Burney Co. purchased a new position in shares of American Equity Investment Life in the 4th quarter worth about $5,607,000. Hedge funds and other institutional investors own 92.40% of the company’s stock.

About American Equity Investment Life

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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