Zacks Investment Research upgraded shares of American Equity Investment Life (NYSE:AEL) from a sell rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

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. “

Several other equities analysts have also recently weighed in on the company. Raymond James reissued a hold rating on shares of Broadcom in a research report on Friday, June 14th. UBS Group boosted their price objective on Tableau Software to $134.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. TheStreet cut Tribune Publishing from a c- rating to a d+ rating in a research report on Monday, May 20th. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, Sandler O’Neill cut American Equity Investment Life from a buy rating to a hold rating in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $33.50.

Shares of NYSE AEL traded down $0.17 during trading hours on Friday, hitting $26.20. 1,000,971 shares of the company’s stock were exchanged, compared to its average volume of 354,634. American Equity Investment Life has a 1-year low of $25.27 and a 1-year high of $38.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $2.38 billion, a PE ratio of 5.62 and a beta of 2.00. The firm has a 50-day moving average of $27.01.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $625.65 million. During the same period in the prior year, the firm posted $0.85 EPS. American Equity Investment Life’s revenue for the quarter was up 741.8% on a year-over-year basis. On average, research analysts predict that American Equity Investment Life will post 3.89 earnings per share for the current year.

In related news, CFO Ted Morris Johnson sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $27.59, for a total transaction of $275,900.00. Following the transaction, the chief financial officer now directly owns 106,833 shares in the company, valued at $2,947,522.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey D. Lorenzen sold 12,413 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $27.25, for a total value of $338,254.25. Following the transaction, the vice president now owns 41,030 shares in the company, valued at $1,118,067.50. The disclosure for this sale can be found here. Insiders have sold a total of 122,413 shares of company stock valued at $3,336,254 in the last three months. 1.99% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AEL. Norges Bank bought a new position in American Equity Investment Life during the fourth quarter valued at about $38,177,000. Acadian Asset Management LLC increased its stake in American Equity Investment Life by 300.4% during the first quarter. Acadian Asset Management LLC now owns 482,329 shares of the financial services provider’s stock valued at $13,034,000 after acquiring an additional 361,865 shares during the period. Bank of America Corp DE increased its stake in American Equity Investment Life by 14.3% during the fourth quarter. Bank of America Corp DE now owns 1,408,123 shares of the financial services provider’s stock valued at $39,342,000 after acquiring an additional 176,159 shares during the period. Burney Co. increased its stake in American Equity Investment Life by 66.1% during the first quarter. Burney Co. now owns 333,310 shares of the financial services provider’s stock valued at $9,006,000 after acquiring an additional 132,625 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in American Equity Investment Life by 9.4% during the first quarter. JPMorgan Chase & Co. now owns 1,344,113 shares of the financial services provider’s stock valued at $36,318,000 after acquiring an additional 115,028 shares during the period. Hedge funds and other institutional investors own 92.27% of the company’s stock.

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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