American Equity Investment Life (NYSE:AEL) Trading Up 12.8%

American Equity Investment Life Holding (NYSE:AEL)’s share price was up 12.8% during mid-day trading on Wednesday . The company traded as high as $16.22 and last traded at $18.18, approximately 30,722 shares traded hands during mid-day trading. A decline of 97% from the average daily volume of 932,669 shares. The stock had previously closed at $16.12.

A number of equities analysts recently issued reports on AEL shares. TheStreet cut shares of American Equity Investment Life from a “b-” rating to a “c+” rating in a research note on Friday, March 13th. Raymond James upped their price target on shares of American Equity Investment Life from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Royal Bank of Canada cut shares of American Equity Investment Life from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $32.00 to $18.00 in a research note on Friday, March 20th. ValuEngine cut shares of American Equity Investment Life from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, B. Riley lowered their target price on shares of American Equity Investment Life from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $29.00.

The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.47 billion, a P/E ratio of 7.69 and a beta of 1.85. The company’s 50 day simple moving average is $24.58 and its 200-day simple moving average is $26.41.

American Equity Investment Life (NYSE:AEL) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.33. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $661.79 million. American Equity Investment Life had a net margin of 7.10% and a return on equity of 14.49%. During the same quarter in the prior year, the business earned $0.99 EPS. On average, sell-side analysts anticipate that American Equity Investment Life Holding will post 4.89 earnings per share for the current year.

In other American Equity Investment Life news, CEO Anant Bhalla acquired 5,500 shares of the stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $16.30 per share, for a total transaction of $89,650.00. Following the purchase, the chief executive officer now directly owns 50,171 shares of the company’s stock, valued at $817,787.30. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Debra J. Richardson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $33.20, for a total transaction of $664,000.00. Following the completion of the transaction, the director now owns 106,022 shares in the company, valued at approximately $3,519,930.40. The disclosure for this sale can be found here. 1.99% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of AEL. Barclays PLC increased its holdings in American Equity Investment Life by 32.9% in the 4th quarter. Barclays PLC now owns 137,243 shares of the financial services provider’s stock worth $4,108,000 after acquiring an additional 34,006 shares in the last quarter. First Hawaiian Bank increased its holdings in American Equity Investment Life by 1.8% in the 4th quarter. First Hawaiian Bank now owns 29,837 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 520 shares in the last quarter. Millennium Management LLC increased its holdings in American Equity Investment Life by 32.1% in the 3rd quarter. Millennium Management LLC now owns 60,513 shares of the financial services provider’s stock worth $1,464,000 after acquiring an additional 14,707 shares in the last quarter. Man Group plc increased its holdings in American Equity Investment Life by 45.1% in the 3rd quarter. Man Group plc now owns 787,684 shares of the financial services provider’s stock worth $19,062,000 after acquiring an additional 244,964 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in American Equity Investment Life in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.

About American Equity Investment Life (NYSE:AEL)

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.

Read More: Why do commodities matter?

Receive News & Ratings for American Equity Investment Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life and related companies with MarketBeat.com's FREE daily email newsletter.