American Equity Investment Life (NYSE:AEL) Downgraded to Strong Sell at ValuEngine

American Equity Investment Life (NYSE:AEL) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Wednesday, ValuEngine reports.

AEL has been the subject of several other reports. B. Riley lowered their price objective on American Equity Investment Life from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday. SunTrust Banks lifted their price objective on American Equity Investment Life from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Raymond James lifted their price objective on American Equity Investment Life from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Piper Sandler raised American Equity Investment Life from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $30.00 to $25.00 in a research report on Tuesday, March 10th. Finally, TheStreet lowered American Equity Investment Life from a “b-” rating to a “c+” rating in a research report on Friday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. American Equity Investment Life presently has an average rating of “Hold” and an average target price of $29.00.

AEL traded up $1.94 during midday trading on Wednesday, hitting $18.06. 1,110,983 shares of the company were exchanged, compared to its average volume of 650,186. The firm has a market capitalization of $1.16 billion, a P/E ratio of 6.74 and a beta of 1.85. American Equity Investment Life has a 1-year low of $9.07 and a 1-year high of $34.16. The firm’s 50 day moving average price is $24.58 and its 200-day moving average price is $26.41. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.14.

American Equity Investment Life (NYSE:AEL) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.33. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $661.79 million. American Equity Investment Life had a return on equity of 14.49% and a net margin of 7.10%. During the same period in the previous year, the business earned $0.99 EPS. On average, sell-side analysts predict that American Equity Investment Life will post 4.89 earnings per share for the current fiscal year.

In related news, Director Debra J. Richardson sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $33.20, for a total value of $664,000.00. Following the completion of the sale, the director now directly owns 106,022 shares of the company’s stock, valued at approximately $3,519,930.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anant Bhalla bought 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $16.30 per share, with a total value of $89,650.00. Following the completion of the transaction, the chief executive officer now directly owns 50,171 shares in the company, valued at $817,787.30. The disclosure for this purchase can be found here. Insiders own 1.99% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new stake in American Equity Investment Life in the 4th quarter valued at about $28,000. First Bank & Trust increased its holdings in American Equity Investment Life by 288.5% during the 4th quarter. First Bank & Trust now owns 1,356 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,007 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in American Equity Investment Life during the 4th quarter worth approximately $142,000. PNC Financial Services Group Inc. increased its holdings in American Equity Investment Life by 61.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,349 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 2,026 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in American Equity Investment Life during the 4th quarter worth approximately $161,000. 95.12% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for American Equity Investment Life (NYSE:AEL)

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