Sandler O’Neill Believes American Equity Investment Life (AEL) Won’t Stop Here


Sandler O’Neill analyst John Barnidge reiterated a Buy rating on American Equity Investment Life (NYSE: AEL) on July 10 and set a price target of $41. The company’s shares closed yesterday at $35.54, close to its 52-week high of $37.16.

According to TipRanks.com, Barnidge is a 3-star analyst with an average return of 3.6% and a 43.5% success rate. Barnidge covers the Financial sector, focusing on stocks such as Heritage Insurance Holdings, Brighthouse Financial Inc, and Prudential Financial Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Equity Investment Life with a $34 average price target.

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Based on American Equity Investment Life’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $141 million. In comparison, last year the company had a net profit of $26.95 million.

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. Last month, 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.

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