American Equity Investment Life (AEL) Downgraded by Zacks Investment Research

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American Equity Investment Life (NYSE:AEL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, 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. “

Separately, ValuEngine downgraded shares of American Equity Investment Life from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. American Equity Investment Life has a consensus rating of “Hold” and an average target price of $39.67.

Shares of AEL stock traded up $0.78 during mid-day trading on Wednesday, hitting $28.32. The stock had a trading volume of 16,157 shares, compared to its average volume of 449,243. American Equity Investment Life has a fifty-two week low of $25.27 and a fifty-two week high of $38.56. The stock has a market capitalization of $2.55 billion, a PE ratio of 6.08 and a beta of 2.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.10 and a current ratio of 0.10.

American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.09. The business had revenue of $554.36 million during the quarter, compared to the consensus estimate of $556.20 million. American Equity Investment Life had a net margin of 13.62% and a return on equity of 14.00%. During the same quarter last year, the firm posted $0.82 EPS. Equities analysts forecast that American Equity Investment Life will post 3.77 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of American Equity Investment Life by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 140,333 shares of the financial services provider’s stock valued at $3,921,000 after purchasing an additional 3,260 shares in the last quarter. Deutsche Bank AG increased its holdings in American Equity Investment Life by 277.5% during the 3rd quarter. Deutsche Bank AG now owns 1,102,674 shares of the financial services provider’s stock valued at $38,987,000 after acquiring an additional 810,594 shares in the last quarter. Clearbridge Investments LLC increased its holdings in American Equity Investment Life by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,510,431 shares of the financial services provider’s stock valued at $53,409,000 after acquiring an additional 20,175 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in American Equity Investment Life by 1.8% during the 4th quarter. State of Alaska Department of Revenue now owns 30,211 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 530 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in American Equity Investment Life during the 4th quarter valued at about $429,000. Institutional investors and hedge funds own 94.55% of the company’s stock.

About American Equity Investment Life

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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