RBC Capital analyst Kenneth Lee reiterated a Buy rating on American Equity Investment Life (NYSE: AEL) today and set a price target of $38. The company’s shares opened today at $36.47, close to its 52-week high of $38.57.
According to TipRanks.com, Lee is a 2-star analyst with an average return of 1.4% and a 43.6% success rate. Lee covers the Financial sector, focusing on stocks such as Federated Investors, Reinsurance Group, and Invesco Ltd.
Currently, the analyst consensus on American Equity Investment Life is a Moderate Buy with an average price target of $38.17, implying a 4.7% upside from current levels. In a report released yesterday, SunTrust Robinson also reiterated a Buy rating on the stock with a $42 price target.
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The company has a one-year high of $38.57 and a one-year low of $25.43. Currently, American Equity Investment Life has an average volume of 636.1K.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AEL in relation to earlier this year. Most recently, in June 2018, Debra J. Richardson, a Director at AEL bought 40,000 shares for a total of $434,000.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
American Equity Investment Life Holding Co. engages in the development and sale of annuity and life insurance products through its subsidiaries. It focuses on issuing fixed index and fixed rate annuities. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.
