American Equity Investment Life Holding (AEL) was Upgraded by JP Morgan to ” Overweight” while Lowering the Price Target of the company shares to $ 20 from a previous price target of $23 . Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Jun 6, 2016.
Many Wall Street Analysts have commented on American Equity Investment Life Holding. Shares were Upgraded by JP Morgan on Jun 6, 2016 to ” Overweight” and Lowered the Price Target to $ 20 from a previous price target of $23 .Company shares were Reiterated by FBR Capital on May 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 21 from a previous price target of $20 .Shares were Reiterated by FBR Capital on Apr 11, 2016 to “Outperform” and Lowered the Price Target to $ 20 from a previous price target of $23 .
On the company’s financial health, American Equity Investment Life Holding reported $0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.37 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.62. The company had revenue of $417.60 million for the quarter, compared to analysts expectations of $515.04 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.
American Equity Investment Life Holding closed down -0.54 points or -3.29% at $15.85 with 6,15,768 shares getting traded on Friday. Post opening the session at $16.09, the shares hit an intraday low of $15.69 and an intraday high of $16.09 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 8, 2016, Renee Denise Montz (Exec VP-Gen Counsel & Asst Sec) purchased 885 shares at $13.45 per share price. According to the SEC, on Apr 8, 2016, Scott A. Samuelson (Vice President-Controller) purchased 3,000 shares at $13.45 per share price. On Mar 15, 2016, James M Gerlach (director) sold 135,000 shares at $15.32 per share price, according to the Form-4 filing with the securities and exchange commission.
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 wholly owned life insurance subsidiaries American Equity Investment Life Insurance Company (American Equity Life) American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company (Eagle Life). The Companys business consists primarily of the sale of fixed index and fixed rate annuities. The Companys products include Fixed Index Annuities Fixed Rate Annuities Withdrawal Options-Fixed Index and Fixed Rate Annuities and Life Insurance.