In a report released today, Randy Binner from B.Riley FBR maintained a Hold rating on American Equity Investment Life (AEL), with a price target of $25.00. The company’s shares closed last Monday at $21.42.
According to TipRanks.com, Binner is a 5-star analyst with an average return of 8.0% and a 57.5% success rate. Binner covers the Financial sector, focusing on stocks such as Federal National Mortgage Association, Eagle Point Credit Company, and National General Holdings.
Currently, the analyst consensus on American Equity Investment Life is a Moderate Buy with an average price target of $30.00, a 46.9% upside from current levels. In a report issued on February 27, Piper Sandler also maintained a Hold rating on the stock with a $30.00 price target.
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Based on American Equity Investment Life’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $220 million. In comparison, last year the company had a net profit of $53.82 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Alonzo Strickland, a Director at AEL bought 10,500 shares for a total of $97,335.
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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.
