American Equity Investment Life (NYSE:AEL) Upgraded by B. Riley to “Buy”


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B. Riley upgraded shares of American Equity Investment Life (NYSE:AEL) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, LiveTradingNews reports. B. Riley also issued estimates for American Equity Investment Life’s Q4 2020 earnings at $0.92 EPS and FY2021 earnings at $4.25 EPS.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of American Equity Investment Life from $36.00 to $31.00 in a research report on Wednesday, November 4th. Citigroup lifted their price objective on shares of American Equity Investment Life from $25.00 to $31.00 in a research note on Friday, October 9th. Zacks Investment Research cut shares of American Equity Investment Life from a buy rating to a hold rating and set a $26.00 price objective on the stock. in a research note on Wednesday, October 28th. TheStreet raised shares of American Equity Investment Life from a c+ rating to a b- rating in a research note on Friday, December 11th. Finally, Credit Suisse Group assumed coverage on shares of American Equity Investment Life in a research note on Tuesday, December 15th. They issued an outperform rating and a $35.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $30.33.

AEL stock traded up $0.77 during mid-day trading on Wednesday, hitting $30.60. 12,653 shares of the company were exchanged, compared to its average volume of 1,050,407. The business has a 50 day simple moving average of $27.83 and a 200-day simple moving average of $25.91. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.82 billion, a PE ratio of 3.18 and a beta of 1.49. American Equity Investment Life has a 1-year low of $9.07 and a 1-year high of $34.25.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.04). The business had revenue of $798.70 million for the quarter, compared to analysts’ expectations of $611.44 million. During the same period in the previous year, the business earned $2.54 EPS. The firm’s revenue was up 24.1% on a year-over-year basis. Equities research analysts expect that American Equity Investment Life will post 4.64 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC lifted its holdings in shares of American Equity Investment Life by 104.4% in the third quarter. Harbor Investment Advisory LLC now owns 1,198 shares of the financial services provider’s stock worth $26,000 after buying an additional 612 shares in the last quarter. Neo Ivy Capital Management acquired a new position in American Equity Investment Life during the 3rd quarter valued at approximately $49,000. PNC Financial Services Group Inc. grew its stake in American Equity Investment Life by 10.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,215 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 503 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in American Equity Investment Life by 1,848.0% during the third quarter. Meeder Asset Management Inc. now owns 7,948 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 7,540 shares in the last quarter. Finally, KBC Group NV raised its position in shares of American Equity Investment Life by 330.7% during the 3rd quarter. KBC Group NV now owns 9,032 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 6,935 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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

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