Equities analysts predict that American Equity Investment Life Holding (NYSE:AEL) will post $570.70 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for American Equity Investment Life’s earnings. The lowest sales estimate is $569.46 million and the highest is $571.94 million. American Equity Investment Life reported sales of $533.28 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The business is scheduled to issue its next earnings results after the market closes on Monday, August 5th.
On average, analysts expect that American Equity Investment Life will report full year sales of $2.30 billion for the current financial year, with estimates ranging from $2.30 billion to $2.31 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.48 billion, with estimates ranging from $2.45 billion to $2.50 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover American Equity Investment Life.
American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $625.65 million. The business’s revenue was up 741.8% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share.
Shares of NYSE:AEL traded down $0.11 during trading on Friday, reaching $26.53. 280,720 shares of the company were exchanged, compared to its average volume of 377,236. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 5.69 and a beta of 2.00. The business’s fifty day simple moving average is $27.43. American Equity Investment Life has a 12-month low of $25.27 and a 12-month high of $38.56. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.25.
In other news, Director Debra J. Richardson sold 80,000 shares of American Equity Investment Life stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $27.40, for a total transaction of $2,192,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ted Morris Johnson sold 10,000 shares of American Equity Investment Life stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $26.11, for a total transaction of $261,100.00. Following the sale, the chief financial officer now owns 86,833 shares of the company’s stock, valued at $2,267,209.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,413 shares of company stock valued at $3,336,254. 1.99% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Eqis Capital Management Inc. acquired a new stake in shares of American Equity Investment Life during the 2nd quarter worth about $230,000. Oregon Public Employees Retirement Fund lifted its position in American Equity Investment Life by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,589 shares of the financial services provider’s stock valued at $967,000 after buying an additional 600 shares in the last quarter. First Hawaiian Bank lifted its position in American Equity Investment Life by 14.4% during the second quarter. First Hawaiian Bank now owns 24,104 shares of the financial services provider’s stock valued at $655,000 after buying an additional 3,039 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in American Equity Investment Life by 115.8% during the second quarter. Clark Capital Management Group Inc. now owns 129,487 shares of the financial services provider’s stock valued at $3,517,000 after buying an additional 69,483 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in American Equity Investment Life by 35.4% during the first quarter. First Trust Advisors LP now owns 93,246 shares of the financial services provider’s stock valued at $2,520,000 after buying an additional 24,396 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
About American Equity Investment Life
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.
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