Shares are trading at $27.15 which is marginally over $24.79, the 50 day moving average and which is slightly above the 200 day moving average of $24.37. The 50 day moving average was up $2.36 and the 200 day average was up $2.78. American Equity Investment Life shares had a trading volume of 407K on Thursday. Volume was down 63.34% under the stocks average daily volume.
American Equity Investment Life (NYSE:AEL) has been the object of insider buying and selling activity recently. Alan David Matula, Director acquired $150,229 worth of shares at an average price of $23.96 on May 17th. The Director now owns $316,751 of the stock as recorded in a recent Form 4 SEC filing. Director David J. Noble let go of 100,000 shares at an average price of $27.53 on Wed the 22nd. Noble now owns $3,771,610 of stock as reported to the SEC.
Ronald James Grensteiner, EVP disclosed the sale of 10,000 shares of AEL stock. The shares were sold on February 21st for an average price of $27.71. The EVP now owns $2,334,540 of the stock per the Form 4 SEC filing.
Here are a few additional firms who have increased or decreased their stake in (AEL). As of quarter end Morgan Stanley had acquired a total of 2,578 shares growing its position 171.9%. The value of the investment in (AEL) increased from $34,000 to $96,000 increasing 182.4% for the reporting period. As of the end of the quarter Tower Research Capital LLC (trc) had sold 546 shares trimming its holdings by 73.2%. The value in dollars went from $17,000 to $5,000 a change of 70.6% quarter over quarter.
Goldman Sachs Group Inc divested its stake by selling 150,383 shares a decrease of 29.0% as of 03/31/2017. Goldman Sachs Group Inc currently owns 368,429 shares valued at $8,706,000. The total value of its holdings decreased 25.6%. As of quarter end Schroder Investment Management Group had disposed of 331,939 shares trimming its stake by 50.6%. The value of the investment in American Equity Investment Life decreased from $14,788,000 to $7,666,000 a change of $7,122,000 quarter to quarter.
On October 7, 2016 started covering AEL with an initial rating of “Neutral” and a price target of $20.00. Credit Suisse released its first research report on the stock with a rating of “Neutral” and projecting a price target of $20.00.
Equity analyst JP Morgan upgraded the stock and lowered the price target on June 6 cutting the price target from $28.00 to $20.00 and moving the rating from “Neutral” to “Overweight”. On June 6 the company was upgraded from “Neutral” to “Overweight” with a current price target of $20.00 by analysts at JP Morgan.
On April 7, 2016 the stock rating was rated “Hold” by Sandler O’Neill which is down from the previous “Buy” rating. On January 29 analysts at RBC Capital began coverage of the stock by announcing an initial rating of “Outperform” and setting a price target of $24.00.
The company is down by -0.22% since yesterday’s close of $27.21. American Equity Investment Life currently has a P/E ratio of 13.07 and market capitalization is 2.41B. In the last earnings report the EPS was $2.08 and is expected to be $2.49 for the current year with 88,753,000 shares outstanding. Next quarter’s EPS is forecasted at $0.61 with next year’s EPS anticipated to be $2.59.
American Equity Investment Life Holding Company, launched on December 18, 1997, is involved in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its 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 Business’s target market includes the group of individuals aged 45 to 75 seeking to accumulate tax-deferred savings or create guaranteed lifetime income. The Company distributes through a range of distribution channels, including independent agents, broker/dealers, banks and registered investment advisors. The Business’s product types include fixed index annuities, annual reset fixed rate annuities, multi-year fixed rate annuities and single premium immediate annuities..Advertisement