American Equity Investment Life Receives a Hold from B.Riley FBR

By Carrie Williams

B.Riley FBR analyst Randy Binner reiterated a Hold rating on American Equity Investment Life (NYSE: AEL) today and set a price target of $26. The company’s shares closed yesterday at $28.50.

Binner said:

“We are adjusting our estimates following 3Q17 earnings. We reiterate our Neutral rating and $26 price target.”

According to TipRanks.com, Binner is a 5-star analyst with an average return of 15.4% and a 73.5% success rate. Binner covers the Financial sector, focusing on stocks such as American International Group, State National Companies Inc, and National General Holdings.

Currently, the analyst consensus on American Equity Investment Life is Moderate Buy and the average price target is $29.50, representing a 3.5% upside.

In a report issued on November 10, KBW also reiterated a Hold rating on the stock with a $30 price target.

The company has a one-year high of $31.05 and a one-year low of $20.22. Currently, American Equity Investment Life has an average volume of 537.6K.

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American Equity Investment Life Holding Co. engages in the provision of insurance and annuity. It involves in the sale of fixed index and fixed rate annuities as well as life and health insurance. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.