SunTrust Banks Weighs in on American Equity Investment Life Holding’s Q2 2019 Earnings (AEL)

American Equity Investment Life Holding (NYSE:AEL) – Investment analysts at SunTrust Banks lowered their Q2 2019 earnings estimates for American Equity Investment Life in a research note issued on Wednesday, February 6th. SunTrust Banks analyst M. Hughes now anticipates that the financial services provider will post earnings of $0.97 per share for the quarter, down from their previous estimate of $0.99. SunTrust Banks also issued estimates for American Equity Investment Life’s Q4 2019 earnings at $1.02 EPS.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, February 6th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.09. American Equity Investment Life had a net margin of 13.62% and a return on equity of 14.00%. The company had revenue of $554.36 million for the quarter, compared to analysts’ expectations of $556.20 million. During the same period in the prior year, the business earned $0.82 EPS.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Monday, January 14th. ValuEngine raised shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.25.

Shares of American Equity Investment Life stock opened at $30.58 on Monday. The company has a current ratio of 0.10, a quick ratio of 0.11 and a debt-to-equity ratio of 0.31. American Equity Investment Life has a 1 year low of $25.27 and a 1 year high of $38.56. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 6.56 and a beta of 2.26.

Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP purchased a new stake in shares of American Equity Investment Life during the fourth quarter valued at about $49,000. Meeder Asset Management Inc. lifted its position in shares of American Equity Investment Life by 149.7% during the fourth quarter. Meeder Asset Management Inc. now owns 2,629 shares of the financial services provider’s stock valued at $74,000 after buying an additional 1,576 shares during the last quarter. Vigilant Capital Management LLC lifted its position in shares of American Equity Investment Life by 16.1% during the fourth quarter. Vigilant Capital Management LLC now owns 3,600 shares of the financial services provider’s stock valued at $101,000 after buying an additional 500 shares during the last quarter. Gradient Investments LLC raised its position in shares of American Equity Investment Life by 12.2% in the 4th quarter. Gradient Investments LLC now owns 4,149 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 450 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of American Equity Investment Life in the 3rd quarter valued at approximately $161,000. 93.72% of the stock is owned by institutional investors and hedge funds.

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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