American Equity Investment Life Holding Company (NYSE:AEL) – Equities researchers at FBR & Co lifted their FY2017 earnings estimates for American Equity Investment Life Holding Company in a research report issued on Monday. FBR & Co analyst R. Binner now expects that the brokerage will post earnings of $2.40 per share for the year, up from their prior estimate of $2.30. FBR & Co has a “Outperform” rating and a $30.00 price objective on the stock.

American Equity Investment Life Holding Company (NYSE:AEL) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. American Equity Investment Life Holding Company had a return on equity of 4.79% and a net margin of 3.75%. The firm had revenue of $622.82 million for the quarter, compared to the consensus estimate of $478.45 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis.

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Earnings History and Estimates for American Equity Investment Life Holding Company (NYSE:AEL)

A number of other brokerages have also commented on AEL. TheStreet upgraded American Equity Investment Life Holding Company from a “c” rating to a “b-” rating in a research report on Thursday, February 9th. Citigroup Inc. initiated coverage on American Equity Investment Life Holding Company in a report on Thursday, January 26th. They set a “neutral” rating and a $25.00 target price on the stock. Zacks Investment Research upgraded American Equity Investment Life Holding Company from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Monday, January 16th. RBC Capital Markets restated a “buy” rating and set a $24.00 target price on shares of American Equity Investment Life Holding Company in a report on Monday, January 9th. Finally, J P Morgan Chase & Co cut American Equity Investment Life Holding Company from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $20.00 to $24.00 in a report on Tuesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.86.

American Equity Investment Life Holding Company (NYSE:AEL) traded up 0.07% during trading on Wednesday, reaching $27.20. The company had a trading volume of 194,081 shares. The company has a 50 day moving average price of $23.99 and a 200 day moving average price of $19.98. The company has a market capitalization of $2.39 billion, a PE ratio of 28.04 and a beta of 2.36. American Equity Investment Life Holding Company has a 52-week low of $12.77 and a 52-week high of $27.41.

Institutional investors have recently modified their holdings of the company. 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 period. Russell Investments Group Ltd. acquired a new position in American Equity Investment Life Holding Company during the fourth quarter valued at $13,601,000. Macquarie Group Ltd. boosted its position in 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 valued at $47,539,000 after buying an additional 490,506 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in 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 valued at $166,992,000 after buying an additional 464,803 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

This story was originally posted by Financial Market News and is owned by of Financial Market News. If you are accessing this story on another website, it was copied illegally and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at http://www.financial-market-news.com/american-equity-investment-life-holding-company-ael-to-post-fy2017-earnings-of-2-40-per-share-fbr-co-forecasts/1321525/.

In related news, Director Alan David Matula bought 2,200 shares of American Equity Investment Life Holding Company stock in a transaction on Monday, December 19th. The shares were purchased at an average price of $22.60 per share, for a total transaction of $49,720.00. Following the completion of the acquisition, the director now owns 6,950 shares in the company, valued at $157,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander Meeker Clark sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $22.67, for a total value of $113,350.00. Following the transaction, the director now owns 10,500 shares in the company, valued at approximately $238,035. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by company insiders.

American Equity Investment Life Holding Company Company Profile

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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