Stock analysts expect American Equity Investment Life Holding (NYSE:AEL) to report sales of $506.04 million for the current quarter, according to Zacks. Four analysts have made earnings estimates for American Equity Investment Life, with the lowest sales estimate of $501.35 million and the highest estimate of $516.05 million. American Equity Investment Life posted sales of $521.73 million in the same quarter last year, suggesting a negative 3% year-over-year growth rate. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, February 17.
On average, analysts expect American Equity Investment Life to post annual sales of $2.03 billion in the current fiscal year, with estimates ranging from $2.02 billion to $2.04 billion. of dollars. For the next fiscal year, analysts expect the company to record sales of $2.16 billion, with estimates ranging from $2.12 billion to $2.20 billion. Zacks Investment Research’s sell calculations are an average based on a survey of sell-side research analysts who cover American Equity Investment Life.
American Equity Investment Life (NYSE:AEL) last reported quarterly earnings data on Monday, November 8. The financial services provider reported earnings per share of $1.46 for the quarter, beating analysts’ consensus estimate of $0.76 by $0.70. The company posted revenue of $542.56 million in the quarter, compared to analyst estimates of $578.71 million. American Equity Investment Life had a net margin of 10.79% and a return on equity of 5.87%. The company’s revenue for the quarter was down 32.1% year over year. During the same period of the previous year, the company achieved EPS of $0.99.
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A number of equity research analysts have weighed in on the stock. Morgan Stanley raised its price target on American Equity Investment Life shares from $35.00 to $38.00 and gave the company an “equal weight” rating in a Friday, January 7 research note. Raymond James raised its target price on shares of American Equity Investment Life from $40.00 to $44.00 and gave the company an “outperform” rating in a Monday, January 10 research note. Jefferies Financial Group began covering American Equity Investment Life stocks in a research note on Tuesday, January 25. They set a “hold” rating and a target price of $42.00 for the company. Truist Financial raised its price target on American Equity Investment Life from $39.00 to $44.00 and gave the stock a “buy” rating in a Thursday, November 11 research note. Finally, Zacks Investment Research downgraded American Equity Investment Life from a “strong buy” rating to a “hold” rating and set a price target of $42.00 for the company. in a research note on Tuesday, January 4. Five analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $41.58.
Shares of AEL opened at $41.14 on Tuesday. The company has a market capitalization of $3.81 billion, a PE ratio of 11.46 and a beta of 1.22. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt ratio of 0.09. The company has a fifty-day simple moving average of $38.68 and a two-hundred-day simple moving average of $34.47. American Equity Investment Life has a 1 year minimum of $26.21 and a 1 year maximum of $43.80.
The company also recently announced an annual dividend, which was paid on Monday, December 13. Investors of record on Monday, November 29 received a dividend of $0.34. The ex-dividend date was Friday, November 26. This represents a return of 0.97%. This is an increase from American Equity Investment Life’s previous annual dividend of $0.18. American Equity Investment Life’s dividend payout ratio is currently 9.47%.
In other news from American Equity Investment Life, Executive Vice President Jeffrey D. Lorenzen sold 20,000 shares in a trade dated Friday, January 7. The shares were sold at an average price of $41.10, for a total transaction of $822,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, CEO Anant Bhalla sold 10,214 shares in a trade dated Tuesday, November 30. The shares were sold at an average price of $29.64, for a total transaction of $302,742.96. Disclosure of this sale can be found here. Insiders sold a total of 41,108 shares of the company valued at $1,582,836 over the past three months. Insiders hold 1.90% of the shares of the company.
Several hedge funds and other institutional investors have recently changed their positions in AEL. Fieldpoint Private Securities LLC increased its position in American Equity Investment Life shares by 92.1% during the second quarter. Fieldpoint Private Securities LLC now owns 855 shares of the financial services provider valued at $29,000 after buying an additional 410 shares in the last quarter. Strs Ohio bought a new stake in shares of American Equity Investment Life during Q4, valued at approximately $42,000. Signaturefd LLC increased its position in American Equity Investment Life shares by 205.4% during the third quarter. Signaturefd LLC now owns 1,655 shares of the financial services provider valued at $49,000 after buying 1,113 additional shares last quarter. Denali Advisors LLC purchased a new stake in shares of American Equity Investment Life during Q3, valued at approximately $83,000. Finally, Maverick Capital Ltd. purchased a new equity stake in American Equity Investment Life during Q2 valued at approximately $96,000. Hedge funds and other institutional investors own 93.37% of the company’s shares.
About American Equity Investment Life
American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is based in West Des Moines, IA.
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