JP Morgan Upgrades American Equity Investment Life Holding to Overweight with Price Target $20.00

Brokerage firm JP Morgan Upgrades its rating on American Equity Investment Life Holding(NYSE:AEL). In a research note issued to the investors, the brokerage major Lowers the price-target to $20.00 per share. The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Jun 6, 2016.

In a different note, On Apr 7, 2016, Sandler O’Neill said it Downgrades its rating on American Equity Investment Life Holding. The shares have been rated ‘Hold’ by the firm.

American Equity Investment Life Holding (AEL) shares turned negative on Fridays trading session with the shares closing down -0.33 points or -2.07% at a volume of 4,72,774. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.84. The peak price level was also seen at $15.84 while the days lowest was $15.36. Finally the shares closed at $15.62. The 52-week high of the shares is $30.02 while the 52-week low is $12.65. According to the latest information available, the market cap of the company is $1,285 M.

American Equity Investment Life Holding(AEL) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $417.60M. Analysts had an estimated revenue of $473.67M. Earnings per share were $0.25. Analysts had estimated an EPS of $0.62.

Several Insider Transactions has been reported to the SEC. On Apr 8, 2016, Renee Denise Montz (Exec VP-Gen Counsel & Asst Sec) purchased 885 shares at $13.45 per share price.Also, On Apr 8, 2016, Scott A. Samuelson (Vice President-Controller) purchased 3,000 shares at $13.45 per share price.On Mar 15, 2016, James M Gerlach (director) sold 135,000 shares at $15.32 per share price, according to the Form-4 filing with the securities and exchange commission.

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its wholly owned life insurance subsidiaries American Equity Investment Life Insurance Company (American Equity Life) American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company (Eagle Life). The Company’s business consists primarily of the sale of fixed index and fixed rate annuities. The Company’s products include Fixed Index Annuities Fixed Rate Annuities Withdrawal Options-Fixed Index and Fixed Rate Annuities and Life Insurance.

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