American Equity Investment Life Holding Company (AEL) Price Target Raised to $30.00 at FBR & Co

American Equity Investment Life Holding Company (NYSE:AEL) had its target price increased by equities researchers at FBR & Co from $25.00 to $30.00 in a research report issued on Monday. The brokerage currently has an “outperform” rating on the stock. FBR & Co’s price objective would suggest a potential upside of 14.94% from the stock’s current price.

Several other analysts also recently weighed in on the company. RBC Capital Markets reaffirmed a “buy” rating and set a $24.00 target price on shares of American Equity Investment Life Holding Company in a research note on Monday, January 9th. Zacks Investment Research raised American Equity Investment Life Holding Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Sandler O’Neill raised American Equity Investment Life Holding Company from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Friday, November 4th. TheStreet raised American Equity Investment Life Holding Company from a “c” rating to a “b-” rating in a research note on Thursday. Finally, Citigroup Inc. initiated coverage on American Equity Investment Life Holding Company in a research note on Thursday, January 26th. They set a “neutral” rating and a $25.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. American Equity Investment Life Holding Company presently has a consensus rating of “Buy” and an average price target of $23.86.

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

American Equity Investment Life Holding Company (NYSE:AEL) opened at 26.10 on Monday. American Equity Investment Life Holding Company has a 12 month low of $12.74 and a 12 month high of $26.44. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 26.91 and a beta of 2.36. The company has a 50 day moving average of $23.50 and a 200 day moving average of $19.66.

American Equity Investment Life Holding Company (NYSE:AEL) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $622.82 million for the quarter, compared to the consensus estimate of $478.45 million. American Equity Investment Life Holding Company had a return on equity of 4.79% and a net margin of 3.75%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, equities analysts predict that American Equity Investment Life Holding Company will post $2.38 EPS for the current year.

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In other news, Director Alexander Meeker Clark sold 5,000 shares of the business’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $22.67, for a total value of $113,350.00. Following the sale, the director now owns 10,500 shares of the company’s stock, valued at approximately $238,035. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan David Matula acquired 2,200 shares of the company’s stock in a transaction dated Monday, December 19th. The stock was purchased at an average cost of $22.60 per share, for a total transaction of $49,720.00. Following the purchase, the director now directly owns 6,950 shares in the company, valued at approximately $157,070. The disclosure for this purchase can be found here. 4.43% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of AEL. Mesirow Financial Investment Management Equity Management bought a new position in shares of American Equity Investment Life Holding Company during the third quarter worth about $16,725,000. BlackRock Fund Advisors boosted its position in shares of American Equity Investment Life Holding Company by 12.1% in the third quarter. BlackRock Fund Advisors now owns 5,669,749 shares of the company’s stock worth $100,525,000 after buying an additional 610,765 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of American Equity Investment Life Holding Company during the fourth quarter worth about $13,601,000. Macquarie Group Ltd. boosted its position in shares of American Equity Investment Life Holding Company 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of American Equity Investment Life Holding Company by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,408,731 shares of the company’s stock worth $166,992,000 after buying an additional 464,803 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

About American Equity Investment Life Holding Company

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

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