American Equity Investment Life Holding Co. (NYSE:AEL) was upgraded by Zacks Investment Research from a “strong 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. “

Other research analysts have also recently issued research reports about the stock. Sandler O’Neill upgraded shares of American Equity Investment Life Holding from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Friday, November 4th. Credit Suisse Group AG initiated coverage on shares of American Equity Investment Life Holding in a research report on Friday, October 7th. They set a “neutral” rating and a $20.00 price objective on the stock. 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.57.

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

Shares of American Equity Investment Life Holding (NYSE:AEL) opened at 18.32 on Tuesday. The stock has a 50 day moving average of $17.69 and a 200 day moving average of $16.27. The stock’s market capitalization is $1.58 billion. American Equity Investment Life Holding has a 52-week low of $12.65 and a 52-week high of $27.86.

A number of hedge funds have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its stake in American Equity Investment Life Holding by 4.1% in the first quarter. TIAA CREF Investment Management LLC now owns 336,066 shares of the company’s stock worth $5,646,000 after buying an additional 13,127 shares during the period. State Street Corp raised its stake in American Equity Investment Life Holding by 12.0% in the first quarter. State Street Corp now owns 1,989,991 shares of the company’s stock worth $33,430,000 after buying an additional 212,632 shares during the period. UBS Group AG raised its stake in American Equity Investment Life Holding by 113.4% in the first quarter. UBS Group AG now owns 235,075 shares of the company’s stock worth $3,950,000 after buying an additional 124,941 shares during the period. Nuveen Asset Management LLC raised its stake in American Equity Investment Life Holding by 34.7% in the first quarter. Nuveen Asset Management LLC now owns 337,170 shares of the company’s stock worth $5,665,000 after buying an additional 86,815 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in American Equity Investment Life Holding during the first quarter worth $5,513,000. 86.91% of the stock is owned by institutional investors.

About American Equity Investment Life Holding

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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