American Equity Investment Life Holding (AEL) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $0.60 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.61. The company posted revenue of $549.80 million in the period, compared to analysts expectations of $504.81 million. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
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 .
American Equity Investment Life Holding opened for trading at $15.28 and hit $15.66 on the upside on Tusday, eventually ending the session at $15.65, with a gain of 1.95% or 0.3 points. The heightened volatility saw the trading volume jump to 8,28,609 shares. Company has a market cap of $1,288 M.
In a different news, on Jul 5, 2016, Ronald James Grensteiner (Executive Vice President) purchased 1,770 shares at $14.08 per share price. According to the SEC, on Jun 8, 2016, Alexander Meeker Clark (director) sold 5,000 shares at $16.66 per share price. 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 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.