Royal Bank Of Canada reaffirmed their buy rating on shares of American Equity Investment Life Holding Company (NYSE:AEL) in a research report sent to investors on Tuesday. They currently have a $30.00 price target on the financial services provider’s stock.

AEL has been the topic of several other research reports. ValuEngine raised American Equity Investment Life Holding from a buy rating to a strong-buy rating in a report on Friday, September 1st. BidaskClub raised American Equity Investment Life Holding from a buy rating to a strong-buy rating in a report on Wednesday, August 16th. Keefe, Bruyette & Woods reissued a hold rating and set a $28.00 target price on shares of American Equity Investment Life Holding in a report on Wednesday, August 16th. Zacks Investment Research raised American Equity Investment Life Holding from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Tuesday, August 8th. Finally, TheStreet raised American Equity Investment Life Holding from a c+ rating to a b rating in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $26.00.

American Equity Investment Life Holding (AEL) opened at 29.61 on Tuesday. The firm’s 50-day moving average price is $28.15 and its 200 day moving average price is $26.05. The firm has a market cap of $2.63 billion, a PE ratio of 13.64 and a beta of 2.52. American Equity Investment Life Holding has a 52-week low of $15.39 and a 52-week high of $29.89.

American Equity Investment Life Holding (NYSE:AEL) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. The company had revenue of $819.10 million for the quarter, compared to analysts’ expectations of $531.83 million. American Equity Investment Life Holding had a return on equity of 6.84% and a net margin of 6.48%. The business’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities analysts anticipate that American Equity Investment Life Holding will post $2.63 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in AEL. UBS Asset Management Americas Inc. raised its holdings in American Equity Investment Life Holding by 9.0% during the first quarter. UBS Asset Management Americas Inc. now owns 71,902 shares of the financial services provider’s stock worth $1,699,000 after purchasing an additional 5,952 shares in the last quarter. Sei Investments Co. raised its holdings in American Equity Investment Life Holding by 81.5% during the first quarter. Sei Investments Co. now owns 38,965 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 17,498 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in American Equity Investment Life Holding during the first quarter worth approximately $175,000. Mason Street Advisors LLC raised its holdings in American Equity Investment Life Holding by 7.2% during the first quarter. Mason Street Advisors LLC now owns 20,643 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in American Equity Investment Life Holding by 3.7% during the first quarter. Envestnet Asset Management Inc. now owns 18,358 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 662 shares in the last quarter. 93.28% of the stock is currently owned by hedge funds and other 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.

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

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