Evercore ISI cut its price target on American Equity Investments (NYSE:AEL) to $42.00

American Equity Investment Life (NYSE:AEL – Get Rating) had its price objective lowered by stock analysts at Evercore ISI from $44.00 to $42.00 in a report issued on Wednesday, The Fly reports. Evercore ISI’s price target suggests a potential upside of 13.76% from the stock’s previous close.

A number of other equities analysts also recently commented on AEL. Morgan Stanley reduced their target price on shares of American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday. Credit Suisse Group restated an “outperform” rating and issued a $43.00 target price on shares of American Equity Investment Life in a report on Tuesday, June 28th. Finally, StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and a consensus target price of $43.10, according to MarketBeat.com.

Shares of AEL stock opened at $36.92 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.17, and a quick ratio of 0.17. The business has a 50-day moving average of $37.79 and a 200-day moving average of $39.08. The company has a market cap of $3.44 billion, a P/E ratio of 5.00 and a beta of 1.10. American Equity Investment Life has a 1 year low of $27.12 and a 1 year high of $44.49.

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American Equity Investment Life (NYSE:AEL – Get Rating ) last posted its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.03). The firm had revenue of $147.80 million during the quarter, compared to the consensus estimate of $612.85 million. American Equity Investment Life had a net margin of 26.35% and a return on equity of 7.26%. The business’s revenue was down 84.6% compared to the same quarter last year. In the same quarter last year, the firm earned $0.43 earnings per share. On average, analysts expect that American Equity Investment Life will post 3.91 earnings per share for the current fiscal year.

In related news, EVP Ronald James Grensteiner sold 9,188 shares of the company’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $38.31, for a total value of $351,992.28. Following the sale, the executive vice president now owns 89,039 shares in the company, valued at $3,411,084.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.59% of shares are currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AEL. Exchange Traded Concepts LLC raised its stake in shares of American Equity Investment Life by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,688 shares of the financial services provider’s stock valued at $844,000 after buying an additional 363 shares during the period. Meritage Portfolio Management lifted its stake in shares of American Equity Investment Life by 5.4% in the 4th quarter. Meritage Portfolio Management now owns 7,347 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 376 shares during the period. Profund Advisors LLC lifted its stake in shares of American Equity Investment Life by 4.3% during the 4th quarter. Profund Advisors LLC now owns 9,211 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 378 shares during the period. Maryland State Pension & Retirement System raised its stake in shares of American Equity Investment Life by 1.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 32,825 shares of the financial services provider’s stock valued at $1,278,000 after buying an additional 428 shares during the period. Finally, Byrne Asset Management LLC lifted its stake in shares of American Equity Investment Life by 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider’s stock valued at $38,000 after buying an additional 470 shares during the period. Hedge funds and other institutional investors own 95.15% of the company’s shares.

American Equity Investment Life Company Profile (Get Rating)

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 sells its products through independent agents, including independent marketing organizations, broker/dealers, banks and registered investment advisors.

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