American Equity Investment Life Holding Co. (NYSE:AEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full service underwriter of a broad line of annuity and insurance products, with a primary emphasis on the sale of fixed rate and index annuities. “

A number of other research analysts also recently commented on the company. TheStreet upgraded American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. Evercore ISI initiated coverage on American Equity Investment Life Holding in a research report on Wednesday, July 6th. They issued a “buy” rating for the company. Credit Suisse Group AG initiated coverage on American Equity Investment Life Holding in a research report on Friday, October 7th. They issued a “neutral” rating and a $20.00 price target for the company. Finally, Citigroup Inc. lowered their price target on American Equity Investment Life Holding from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.17.

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

Shares of American Equity Investment Life Holding (NYSE:AEL) opened at 18.12 on Tuesday. American Equity Investment Life Holding has a 52-week low of $12.65 and a 52-week high of $28.30. The stock has a 50 day moving average of $17.75 and a 200-day moving average of $15.95. The stock has a market capitalization of $1.49 billion, a P/E ratio of 14.74 and a beta of 2.33.

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

Several hedge funds have recently added to or reduced their stakes in the company. Springbok Capital Management LLC acquired a new stake in American Equity Investment Life Holding during the first quarter valued at $111,000. Tower Research Capital LLC TRC increased its stake 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 increased its stake 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 increased its stake 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. increased its stake 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. Institutional investors and hedge funds own 87.77% of the company’s stock.

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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