Equities research analysts forecast that American Equity Investment Life Holding (NYSE:AEL) will announce $1.01 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for American Equity Investment Life’s earnings. American Equity Investment Life reported earnings per share of $1.37 during the same quarter last year, which would suggest a negative year-over-year growth rate of 26.3%. The firm is scheduled to announce its next earnings results on Wednesday, February 10th.
On average, analysts expect that American Equity Investment Life will report full year earnings of $4.68 per share for the current fiscal year, with EPS estimates ranging from $4.60 to $4.75. For the next year, analysts anticipate that the company will post earnings of $4.39 per share, with EPS estimates ranging from $4.10 to $4.75. Zacks’ earnings per share averages are an average based on a survey of analysts that follow American Equity Investment Life.
American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.04). The firm had revenue of $798.70 million for the quarter, compared to the consensus estimate of $611.44 million. During the same period last year, the company posted $2.54 EPS. American Equity Investment Life’s revenue for the quarter was up 24.1% compared to the same quarter last year.
AEL has been the subject of several analyst reports. TheStreet upgraded shares of American Equity Investment Life from a “c+” rating to a “b-” rating in a research report on Friday, December 11th. Credit Suisse Group initiated coverage on shares of American Equity Investment Life in a research report on Tuesday, December 15th. They set an “outperform” rating and a $35.00 price target for the company. Piper Sandler lifted their price target on shares of American Equity Investment Life from $27.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 20th. Zacks Investment Research lowered shares of American Equity Investment Life from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research note on Wednesday, October 28th. Finally, Royal Bank of Canada reduced their price objective on shares of American Equity Investment Life from $36.00 to $31.00 in a research note on Wednesday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.67.
Shares of NYSE:AEL traded down $0.08 during trading on Friday, hitting $27.54. 1,027 shares of the company’s stock were exchanged, compared to its average volume of 876,604. American Equity Investment Life has a 1-year low of $9.07 and a 1-year high of $34.25. The firm has a 50-day moving average price of $26.87 and a two-hundred day moving average price of $25.37. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.53 billion, a P/E ratio of 2.94 and a beta of 1.50.
The business also recently declared an annual dividend, which was paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, November 24th. This represents a yield of 1.2%. This is a positive change from American Equity Investment Life’s previous annual dividend of $0.30. American Equity Investment Life’s payout ratio is presently 5.36%.
In related news, Director David S. Mulcahy purchased 10,000 shares of the business’s stock in a transaction on Friday, September 25th. The shares were purchased at an average price of $19.57 per share, with a total value of $195,700.00. Following the completion of the purchase, the director now owns 118,439 shares in the company, valued at approximately $2,317,851.23. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.94% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in American Equity Investment Life by 1.5% in the third quarter. BlackRock Inc. now owns 13,356,532 shares of the financial services provider’s stock valued at $293,710,000 after buying an additional 203,035 shares in the last quarter. Earnest Partners LLC lifted its position in shares of American Equity Investment Life by 2.1% in the third quarter. Earnest Partners LLC now owns 3,423,932 shares of the financial services provider’s stock worth $75,292,000 after purchasing an additional 69,366 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of American Equity Investment Life by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 1,170,018 shares of the financial services provider’s stock worth $28,912,000 after purchasing an additional 13,829 shares in the last quarter. Bank of America Corp DE lifted its position in shares of American Equity Investment Life by 0.3% in the second quarter. Bank of America Corp DE now owns 1,120,474 shares of the financial services provider’s stock worth $27,686,000 after purchasing an additional 3,832 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of American Equity Investment Life by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 1,091,428 shares of the financial services provider’s stock worth $23,892,000 after purchasing an additional 22,926 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.
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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