American Equity Investment Life Holding (NYSE:AEL – Get Rating ) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 2,330,000 shares, up 13.1% from the July 15th total of 2,060,000 shares. Based on an average daily trading volume of 561,400 shares, the short interest ratio is currently 4.2 days. Approximately 2.6% of the company’s shares are sold short.
Insider Business at American Equity Investment Life
In related news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the transaction, the executive vice president now owns 36,439 shares of the company’s stock, valued at $1,457,560. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link. Insiders own 1.59% of the company’s stock.
Institutional investors judge the life of investments in US stocks
Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in American Equity Investment Life in the second quarter valued at $29,000. Byrne Asset Management LLC increased its holdings in American Equity Investment Life by 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 470 shares in the last quarter. CoreCap Advisors LLC acquired a new position in American Equity Investment Life in the second quarter valued at $38,000. Covestor Ltd acquired a new position in American Equity Investment Life in the 4th quarter valued at $61,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in American Equity Investment Life in the first quarter worth $65,000. 95.15% of the stock is owned by institutional investors and hedge funds.
American Equity Investment Life Trading down 0.8%
Shares of American Equity Investment Life stock traded down $0.35 during trading hours on Friday, hitting $42.29. The company’s stock had a trading volume of 477,814 shares, compared to its average volume of 450,555. American Equity Investment Life has a 1-year low of $27.12 and a 1-year high of $44.49. The business has a fifty day moving average of $37.32 and a 200 day moving average of $38.38. The company has a market cap of $3.71 billion, a PE ratio of 3.58 and a beta of 1.06. The company has a quick ratio of 0.17, a current ratio of 0.16 and a debt-to-equity ratio of 0.15.
American Equity Investment Life (NYSE:AEL – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.27. The business had revenue of $121.40 million during the quarter, compared to analyst estimates of $628.20 million. American Equity Investment Life had a net margin of 61.05% and a return on equity of 8.22%. Business revenues decreased by 88.7% year-on-year. During the same period last year, the business earned $0.98 EPS. As a group, equities analysts forecast that American Equity Investment Life will post 3.71 EPS for the current year.
Changes in analyst ratings
A number of equities analysts have weighed in on AEL shares. Piper Sandler cut their target price on shares of American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Truist Financial boosted their price objective on shares of American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Morgan Stanley cut their target price on shares of American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $43.00 to $41.00 in a research note on Wednesday, May 13 July. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. American Equity Investment Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70, according to MarketBeat.com.
About American Equity Investment Life
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues fixed index and rate annuities as well as single premium immediate annuities. It sells its products through independent agents, including independent marketing organizations, broker/dealers, banks and registered investment advisors.
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