American Equity Investment Life (NYSE:AEL) Given New $32.00 Price Target at Raymond James

American Equity Investment Life (NYSE:AEL) had its price target decreased by equities research analysts at Raymond James from $38.00 to $32.00 in a report issued on Friday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective would indicate a potential upside of 16.83% from the stock’s current price.

A number of other brokerages have also commented on AEL. Zacks Investment Research raised American Equity Investment Life from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, May 6th. Sandler O’Neill lowered American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. UBS Group increased their price objective on American Equity Investment Life from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. ValuEngine raised American Equity Investment Life from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, TheStreet raised American Equity Investment Life from a “c+” rating to a “b-” rating in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.00.

Shares of NYSE AEL opened at $27.39 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.49 billion, a PE ratio of 5.88 and a beta of 2.17. American Equity Investment Life has a 52 week low of $25.27 and a 52 week high of $38.56.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ 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. American Equity Investment Life had a return on equity of 13.92% and a net margin of 13.62%. The firm’s revenue for the quarter was up 741.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. Research analysts expect that American Equity Investment Life will post 3.91 earnings per share for the current year.

A number of large investors have recently made changes to their positions in AEL. Rhumbline Advisers lifted its stake in shares of American Equity Investment Life by 20.6% in the 4th quarter. Rhumbline Advisers now owns 274,451 shares of the financial services provider’s stock valued at $7,668,000 after purchasing an additional 46,787 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of American Equity Investment Life by 19.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 88,794 shares of the financial services provider’s stock valued at $2,481,000 after purchasing an additional 14,507 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of American Equity Investment Life in the 4th quarter valued at $34,000. Comerica Bank lifted its stake in shares of American Equity Investment Life by 0.4% in the 4th quarter. Comerica Bank now owns 89,601 shares of the financial services provider’s stock valued at $2,740,000 after purchasing an additional 330 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of American Equity Investment Life by 87.2% in the 4th quarter. Jennison Associates LLC now owns 34,889 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 16,256 shares during the period. Hedge funds and other institutional investors own 92.40% 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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