Investment analysts at Credit Suisse Group AG assumed coverage on shares of American Equity Investment Life Holding Co. (NYSE:AEL) in a research note issued to investors on Friday. The firm set a “neutral” rating on the stock.

Several other research analysts have also recently commented on AEL. Citigroup Inc. cut their price target on American Equity Investment Life Holding from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Zacks Investment Research upgraded American Equity Investment Life Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Evercore ISI began coverage on American Equity Investment Life Holding in a research note on Wednesday, July 6th. They issued a “buy” rating on the stock. Finally, TheStreet upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. American Equity Investment Life Holding currently has an average rating of “Buy” and an average price target of $22.60.

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

Shares of American Equity Investment Life Holding (NYSE:AEL) opened at 18.02 on Friday. American Equity Investment Life Holding has a 52-week low of $12.65 and a 52-week high of $28.30. The firm’s 50-day moving average price is $17.57 and its 200-day moving average price is $15.90. The firm has a market capitalization of $1.48 billion, a PE ratio of 14.66 and a beta of 2.33.

American Equity Investment Life Holding (NYSE:AEL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.01. The company had revenue of $549.80 million for the quarter, compared to analyst estimates of $467.51 million. American Equity Investment Life Holding had a return on equity of 7.48% and a net margin of 6.17%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, equities analysts predict that American Equity Investment Life Holding will post $2.05 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Springbok Capital Management LLC purchased a new stake in shares of American Equity Investment Life Holding during the first quarter valued at $111,000. Tower Research Capital LLC TRC raised its position in American Equity Investment Life Holding by 1,507.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,313 shares of the company’s stock valued at $104,000 after buying an additional 6,858 shares during the period. Public Employees Retirement System of Ohio raised its position in American Equity Investment Life Holding by 21.0% in the second quarter. Public Employees Retirement System of Ohio now owns 7,673 shares of the company’s stock valued at $109,000 after buying an additional 1,331 shares during the period. Acrospire Investment Management LLC raised its position in American Equity Investment Life Holding by 78.3% in the second quarter. Acrospire Investment Management LLC now owns 8,200 shares of the company’s stock valued at $117,000 after buying an additional 3,600 shares during the period. Finally, PineBridge Investments L.P. raised its position in American Equity Investment Life Holding by 4.3% in the second quarter. PineBridge Investments L.P. now owns 10,434 shares of the company’s stock valued at $148,000 after buying an additional 432 shares during the period. 87.79% of the stock is owned by hedge funds and other institutional investors.

American Equity Investment Life Holding Company Profile

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.

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