American Equity Investment Life Holding (AEL) Expected to Announce Quarterly Sales of $513.54 Million

Analysts expect American Equity Investment Life Holding (NYSE:AEL) to announce $513.54 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for American Equity Investment Life’s earnings. The lowest sales estimate is $508.59 million and the highest is $518.49 million. American Equity Investment Life posted sales of $493.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 1st.

On average, analysts expect that American Equity Investment Life will report full-year sales of $2.07 billion for the current financial year, with estimates ranging from $2.05 billion to $2.09 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.19 billion per share, with estimates ranging from $2.15 billion to $2.23 billion. Zacks’ sales averages are an average based on a survey of research firms that cover American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $510.78 million during the quarter, compared to the consensus estimate of $514.11 million. American Equity Investment Life had a return on equity of 11.22% and a net margin of 8.49%. During the same period in the prior year, the business earned $0.66 EPS.

Several analysts have commented on AEL shares. ValuEngine raised American Equity Investment Life from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd. Zacks Investment Research downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Finally, UBS Group initiated coverage on American Equity Investment Life in a research note on Friday, March 2nd. They set a “sell” rating and a $30.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.71.

AEL traded up $0.04 on Monday, hitting $35.95. 44,250 shares of the company traded hands, compared to its average volume of 594,677. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.27 billion, a PE ratio of 11.33 and a beta of 2.48. American Equity Investment Life has a 12-month low of $24.51 and a 12-month high of $37.16.

In other news, insider Ronald James Grensteiner sold 47,750 shares of the stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $30.20, for a total transaction of $1,442,050.00. Following the completion of the transaction, the insider now directly owns 122,792 shares of the company’s stock, valued at approximately $3,708,318.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John M. Matovina sold 20,000 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $31.85, for a total value of $637,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,770 shares of company stock valued at $2,936,742. Company insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in shares of American Equity Investment Life by 16.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 904,856 shares of the financial services provider’s stock worth $27,807,000 after buying an additional 127,097 shares during the period. Aperio Group LLC increased its stake in American Equity Investment Life by 35.1% in the fourth quarter. Aperio Group LLC now owns 78,908 shares of the financial services provider’s stock valued at $2,425,000 after acquiring an additional 20,506 shares during the period. Meeder Asset Management Inc. increased its stake in American Equity Investment Life by 1,498.2% in the fourth quarter. Meeder Asset Management Inc. now owns 10,692 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 10,023 shares during the period. American Century Companies Inc. bought a new stake in American Equity Investment Life in the fourth quarter valued at about $8,945,000. Finally, Alps Advisors Inc. bought a new stake in American Equity Investment Life in the fourth quarter valued at about $223,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

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. The company markets its products through various distribution channels, including national 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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