American Equity Investment Life (NYSE:AEL – Get Free Report) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $55.00 target price on the financial services provider’s stock, up from their previous target price of $49.00. Truist Financial’s price target would indicate a potential upside of 3.03% from the stock’s previous close.
Several other equities research analysts have also recently commented on the stock. Morgan Stanley cut their price objective on shares of American Equity Investment Life from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 12th. Raymond James downgraded American Equity Investment Life from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, June 28th. Royal Bank of Canada cut American Equity Investment Life from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $50.00 to $55.00 in a research note on Wednesday, July 5th. Piper Sandler raised their price target on shares of American Equity Investment Life from $39.00 to $44.00 in a research note on Wednesday, May 10th. Finally, StockNews.com started coverage on shares of American Equity Investment Life in a research report on Friday, July 7th. They issued a “hold” rating on the stock. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, American Equity Investment Life currently has an average rating of “Hold” and an average price target of $46.33.
American Equity Investment Life Stock Performance
Shares of American Equity Investment Life stock opened at $53.38 on Friday. The firm has a fifty day moving average of $44.04 and a two-hundred day moving average of $42.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 11.10 and a beta of 0.96. American Equity Investment Life has a 52 week low of $28.05 and a 52 week high of $53.68.
Institutional Trading of American Equity Investment Life
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of American Equity Investment Life by 0.4% during the 1st quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock worth $531,512,000 after purchasing an additional 49,702 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of American Equity Investment Life by 1.7% in the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock valued at $192,109,000 after buying an additional 85,531 shares during the last quarter. State Street Corp boosted its stake in shares of American Equity Investment Life by 4.7% during the 1st quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock worth $127,313,000 after acquiring an additional 142,611 shares during the period. Invesco Ltd. increased its holdings in shares of American Equity Investment Life by 12.0% during the 1st quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock worth $73,278,000 after acquiring an additional 196,589 shares during the last quarter. Finally, Barclays PLC raised its stake in American Equity Investment Life by 5,908.2% in the 4th quarter. Barclays PLC now owns 1,793,691 shares of the financial services provider’s stock valued at $81,829,000 after acquiring an additional 1,763,837 shares during the period. 96.12% of the stock is owned by institutional investors.
About American Equity Investment Life
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.
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