American Equity Investment Life (NYSE:AEL – Get Rating) had its price target decreased by equities research analysts at Evercore ISI to $38.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. Evercore ISI’s price target indicates a potential upside of 3.01% from the company’s current price.
Several other brokerages also recently weighed in on AEL. Truist Financial increased their target price on shares of American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. StockNews.com initiated coverage on shares of American Equity Investment Life in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Royal Bank of Canada reduced their price objective on shares of American Equity Investment Life from $47.00 to $44.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Morgan Stanley increased their target price on shares of American Equity Investment Life from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, August 17th. Finally, Raymond James increased their target price on shares of American Equity Investment Life from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.30.
American Equity Investment Life Stock Performance
Shares of AEL stock traded up $1.01 during mid-day trading on Tuesday, hitting $36.89. 464,316 shares of the stock were exchanged, compared to its average volume of 570,893. The stock’s fifty day simple moving average is $38.66 and its two-hundred day simple moving average is $38.04. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 2.69 and a beta of 1.02. American Equity Investment Life has a 12-month low of $28.05 and a 12-month high of $44.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.17 and a current ratio of 0.17.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new position in shares of American Equity Investment Life in the 2nd quarter valued at $29,000. CoreCap Advisors LLC acquired a new position in shares of American Equity Investment Life in the 2nd quarter valued at $38,000. IFP Advisors Inc boosted its holdings in shares of American Equity Investment Life by 103.6% in the 3rd quarter. IFP Advisors Inc now owns 786 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 400 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of American Equity Investment Life by 114.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,158 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 618 shares in the last quarter. Finally, Castleview Partners LLC lifted its holdings in shares of American Equity Investment Life by 282.0% during the 2nd quarter. Castleview Partners LLC now owns 382 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 282 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.
American Equity Investment Life Company Profile
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.