American Equity Investment Life Holding (NYSE:AEL) Expected to Announce Quarterly Sales of $502.57 Million

Equities research analysts forecast that American Equity Investment Life Holding (NYSE:AEL) will announce $502.57 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for American Equity Investment Life’s earnings. The lowest sales estimate is $477.55 million and the highest is $538.27 million. American Equity Investment Life reported sales of $573.32 million in the same quarter last year, which would suggest a negative year over year growth rate of 12.3%. The business is expected to report its next earnings results on Wednesday, May 5th.

According to Zacks, analysts expect that American Equity Investment Life will report full-year sales of $2.03 billion for the current financial year, with estimates ranging from $1.81 billion to $2.22 billion. For the next financial year, analysts forecast that the company will report sales of $2.24 billion, with estimates ranging from $2.01 billion to $2.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings data on Tuesday, February 16th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.20). The firm had revenue of $521.73 million for the quarter, compared to analyst estimates of $534.50 million.

A number of research firms have recently commented on AEL. Royal Bank of Canada lifted their target price on American Equity Investment Life from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Truist lifted their price target on American Equity Investment Life from $30.00 to $36.00 in a research report on Friday, February 19th. B. Riley raised American Equity Investment Life from a “neutral” rating to a “buy” rating in a report on Wednesday, January 13th. Raymond James raised shares of American Equity Investment Life from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Friday, January 15th. Finally, Morgan Stanley increased their price target on shares of American Equity Investment Life from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. American Equity Investment Life presently has a consensus rating of “Buy” and an average target price of $32.70.

AEL traded up $0.51 on Wednesday, reaching $32.41. The company had a trading volume of 11,639 shares, compared to its average volume of 808,250. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.09. American Equity Investment Life has a 1 year low of $15.56 and a 1 year high of $34.25. The stock has a market capitalization of $3.09 billion, a PE ratio of 3.40 and a beta of 1.49. The stock has a 50-day moving average price of $30.08 and a 200-day moving average price of $28.29.

In related news, Director Joyce Ann Chapman sold 6,036 shares of American Equity Investment Life stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $30.61, for a total value of $184,761.96. Following the transaction, the director now directly owns 44,150 shares in the company, valued at approximately $1,351,431.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John M. Matovina sold 23,201 shares of the business’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $31.01, for a total transaction of $719,463.01. Following the completion of the transaction, the director now directly owns 138,303 shares in the company, valued at $4,288,776.03. The disclosure for this sale can be found here. Insiders have sold 35,518 shares of company stock valued at $1,088,635 in the last 90 days. Company insiders own 1.94% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in American Equity Investment Life in the fourth quarter valued at about $29,000. Neo Ivy Capital Management purchased a new position in shares of American Equity Investment Life during the 3rd quarter worth approximately $49,000. Vantage Consulting Group Inc acquired a new stake in shares of American Equity Investment Life in the 4th quarter valued at approximately $50,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of American Equity Investment Life in the 4th quarter valued at approximately $92,000. Finally, Veriti Management LLC purchased a new stake in shares of American Equity Investment Life in the fourth quarter valued at approximately $130,000. 96.71% of the stock is 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 in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks, and registered investment advisors.

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

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