American Equity Investment Life Holding Co. (NYSE:AEL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

Several other equities research analysts also recently commented on AEL. Citigroup Inc. lowered their price objective on shares of American Equity Investment Life Holding from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Credit Suisse Group AG assumed coverage on shares of American Equity Investment Life Holding in a research note on Friday, October 7th. They set a “neutral” rating and a $20.00 price objective for the company. Evercore ISI assumed coverage on shares of American Equity Investment Life Holding in a research report on Wednesday, July 6th. They set a “buy” rating for the company. Finally, TheStreet upgraded shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. American Equity Investment Life Holding presently 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) traded up 0.89% on Wednesday, hitting $18.14. The stock had a trading volume of 149,582 shares. The firm’s 50-day moving average price is $17.82 and its 200 day moving average price is $15.98. The firm has a market cap of $1.49 billion, a P/E ratio of 14.76 and a beta of 2.33. American Equity Investment Life Holding has a 12 month low of $12.65 and a 12 month high of $28.30.

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

Several hedge funds and other institutional investors have recently modified their holdings of AEL. Bank of Montreal Can increased its position in shares of American Equity Investment Life Holding by 29.3% in the third quarter. Bank of Montreal Can now owns 6,786 shares of the company’s stock worth $120,000 after buying an additional 1,536 shares during the period. Capstone Asset Management Co. increased its position in shares of American Equity Investment Life Holding by 5.7% in the third quarter. Capstone Asset Management Co. now owns 30,203 shares of the company’s stock worth $535,000 after buying an additional 1,620 shares during the period. Eagle Boston Investment Management Inc. increased its position in shares of American Equity Investment Life Holding by 0.8% in the third quarter. Eagle Boston Investment Management Inc. now owns 363,269 shares of the company’s stock worth $6,440,000 after buying an additional 2,871 shares during the period. Macquarie Group Ltd. increased its position in shares of American Equity Investment Life Holding by 17.2% in the second quarter. Macquarie Group Ltd. now owns 3,336,046 shares of the company’s stock worth $47,539,000 after buying an additional 490,506 shares during the period. Finally, Mason Street Advisors LLC purchased a new position in shares of American Equity Investment Life Holding during the second quarter worth $229,000. Institutional investors and hedge funds own 87.74% 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.

5 Day Chart for NYSE:AEL

Receive News & Stock Ratings for American Equity Investment Life Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life Holding Co. and related stocks with our FREE daily email newsletter.