American Equity Investment Life Holding Company (AEL) Expected to Post Earnings of $0.59 Per Share

Equities research analysts expect that American Equity Investment Life Holding Company (NYSE:AEL) will announce earnings of $0.59 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for American Equity Investment Life Holding’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.58. American Equity Investment Life Holding reported earnings per share of $0.60 in the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, August 2nd.

On average, analysts expect that American Equity Investment Life Holding will report full year earnings of $2.47 per share for the current year, with EPS estimates ranging from $2.45 to $2.50. For the next year, analysts expect that the business will report earnings of $2.55 per share, with EPS estimates ranging from $2.50 to $2.60. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for American Equity Investment Life Holding.

American Equity Investment Life Holding (NYSE:AEL) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. The business had revenue of $927.30 million during the quarter, compared to analyst estimates of $532.31 million. American Equity Investment Life Holding had a net margin of 6.67% and a return on equity of 6.33%. The company’s quarterly revenue was up 122.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share.

A number of brokerages recently issued reports on AEL. BidaskClub downgraded American Equity Investment Life Holding from a “strong-buy” rating to a “buy” rating in a report on Monday. Zacks Investment Research cut American Equity Investment Life Holding from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Royal Bank Of Canada restated a “buy” rating and set a $28.00 price target on shares of American Equity Investment Life Holding in a research note on Monday, May 22nd. TheStreet cut American Equity Investment Life Holding from a “b-” rating to a “c+” rating in a research note on Monday, May 15th. Finally, FBR & Co cut American Equity Investment Life Holding from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $30.00 to $26.00 in a research note on Wednesday, June 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. American Equity Investment Life Holding has an average rating of “Hold” and an average price target of $24.13.

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In other news, Director Alan David Matula bought 6,270 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $23.96 per share, for a total transaction of $150,229.20. Following the transaction, the director now owns 13,220 shares in the company, valued at $316,751.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.05% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AEL. BlackRock Inc. raised its position in shares of American Equity Investment Life Holding by 39,171.4% in the first quarter. BlackRock Inc. now owns 8,551,338 shares of the financial services provider’s stock valued at $202,068,000 after buying an additional 8,529,563 shares during the last quarter. Snow Capital Management LP raised its position in shares of American Equity Investment Life Holding by 273.7% in the first quarter. Snow Capital Management LP now owns 1,987,654 shares of the financial services provider’s stock valued at $46,968,000 after buying an additional 1,455,819 shares during the last quarter. Norges Bank purchased a new position in shares of American Equity Investment Life Holding during the fourth quarter valued at approximately $19,190,000. Vanguard Group Inc. raised its position in shares of American Equity Investment Life Holding by 7.7% in the first quarter. Vanguard Group Inc. now owns 8,373,032 shares of the financial services provider’s stock valued at $197,855,000 after buying an additional 600,302 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of American Equity Investment Life Holding by 68.6% in the first quarter. Bank of America Corp DE now owns 1,363,485 shares of the financial services provider’s stock valued at $32,219,000 after buying an additional 554,672 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Shares of American Equity Investment Life Holding (NYSE:AEL) traded down 1.47% during trading on Monday, hitting $26.78. 500,396 shares of the company traded hands. American Equity Investment Life Holding has a 52-week low of $15.07 and a 52-week high of $28.32. The company has a 50-day moving average of $26.42 and a 200-day moving average of $25.09. The stock has a market capitalization of $2.38 billion, a PE ratio of 12.89 and a beta of 2.50.

About American Equity Investment Life Holding

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 life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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Earnings History and Estimates for American Equity Investment Life Holding (NYSE:AEL)

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