American Equity Investment Life Holding(NYSE:AEL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $549.80M. Analysts estimated a revenue of $466.73M. Earnings per share were $0.60. Analysts had estimated an EPS of $0.61.
In a different note, On Jul 7, 2016, Citigroup said it Maintains its rating on American Equity Investment Life Holding. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 6, 2016, JP Morgan said it Upgrades its rating on American Equity Investment Life Holding. In the research note, the firm Lowers the price-target to $23.00 per share. The shares have been rated ‘Overweight’ by the firm.
American Equity Investment Life Holding (AEL) shares turned negative on Fridays trading session with the shares closing down -0.24 points or -1.51% at a volume of 5,03,988. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.79. The peak price level was also seen at $15.79 while the days lowest was $15.27. Finally the shares closed at $15.61. The 52-week high of the shares is $28.32 while the 52-week low is $12.65. According to the latest information available, the market cap of the company is $1,374 M.
Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Ronald James Grensteiner (Executive Vice President) purchased 1,770 shares at $14.08 per share price.Also, On Jun 8, 2016, Alexander Meeker Clark (director) sold 5,000 shares at $16.66 per share price.On Apr 8, 2016, Renee Denise Montz (Exec VP-Gen Counsel & Asst Sec) purchased 885 shares at $13.45 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 Companys business consists primarily of the sale of fixed index and fixed rate annuities. The Companys products include Fixed Index Annuities Fixed Rate Annuities Withdrawal Options-Fixed Index and Fixed Rate Annuities and Life Insurance.