StockNews.com Begins Coverage on American Equity Investment Life (NYSE:AEL)

Research analysts at StockNews.com initiated coverage on shares of American Equity Investment Life (NYSE:AEL) in a research report issued on Monday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of American Equity Investment Life in a research note on Tuesday, August 8th. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.38.

American Equity Investment Life Stock Up 0.6 %

AEL stock opened at $54.70 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.32 billion, a PE ratio of 6.98 and a beta of 0.92. American Equity Investment Life has a 1 year low of $31.57 and a 1 year high of $54.74. The company has a fifty day simple moving average of $53.64 and a 200 day simple moving average of $50.01.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.77. American Equity Investment Life had a return on equity of 21.32% and a net margin of 26.98%. The company had revenue of $266.65 million during the quarter, compared to the consensus estimate of $561.09 million. During the same quarter in the prior year, the company posted $0.99 EPS. Sell-side analysts anticipate that American Equity Investment Life will post 7.04 EPS for the current fiscal year.

Insider Activity

In other American Equity Investment Life news, EVP James Louis Hamalainen sold 68,915 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $54.03, for a total transaction of $3,723,477.45. Following the completion of the transaction, the executive vice president now owns 19,216 shares in the company, valued at $1,038,240.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other American Equity Investment Life news, EVP James Louis Hamalainen sold 68,915 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $54.03, for a total transaction of $3,723,477.45. Following the completion of the transaction, the executive vice president now directly owns 19,216 shares in the company, valued at $1,038,240.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Howe sold 5,000 shares of American Equity Investment Life stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $54.16, for a total value of $270,800.00. Following the transaction, the director now directly owns 78,282 shares of the company’s stock, valued at $4,239,753.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 542,051 shares of company stock worth $29,282,539. Corporate insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On American Equity Investment Life

Institutional investors have recently bought and sold shares of the business. Covestor Ltd raised its holdings in shares of American Equity Investment Life by 12.6% in the second quarter. Covestor Ltd now owns 1,977 shares of the financial services provider’s stock valued at $103,000 after buying an additional 222 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of American Equity Investment Life by 8.3% during the second quarter. Metropolitan Life Insurance Co NY now owns 4,253 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 325 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of American Equity Investment Life by 69.6% during the second quarter. EverSource Wealth Advisors LLC now owns 860 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 353 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of American Equity Investment Life by 3.4% in the fourth quarter. Captrust Financial Advisors now owns 14,663 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 483 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in American Equity Investment Life in the 2nd quarter worth approximately $27,000. Institutional investors own 94.98% of the company’s stock.

American Equity Investment Life Company Profile

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