American Equity Investment Life Holding (NYSE:AEL) sees a significant increase in short-term interest

American Equity Investment Life Holding (NYSE: AEL – Get a rating) benefited from strong growth in short-term interest in May. As of May 15, there were short interests totaling 1,300,000 shares, a growth of 40.6% from the total of 924,800 shares as of April 30. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 581,200 shares, the short-term interest rate ratio is currently 2.2 days.

A number of research companies have weighed in on AEL recently. StockNews.com downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Friday, May 20. Morgan Stanley raised its price target on American Equity Investment Life from $40.00 to $41.00 and gave the company an “equal weight” rating in a Tuesday, Feb. 22 research note. To finish, Zacks Investment Research upgraded American Equity Investment Life from a “sell” rating to a “hold” rating and set a $37.00 price target for the company in a Tuesday, May 10 research note. Five equity research analysts gave the stock a hold rating and six gave the stock a buy rating. According to data from MarketBeat.com, American Equity Investment Life currently has a consensus rating of “Buy” and an average target price of $42.18.

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In other news from American Equity Investment Life, Director Joyce Ann Chapman sold 3,856 shares of the company in a trade that took place on Wednesday, March 9. The stock was sold at an average price of $38.26, for a total transaction of $147,530.56. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, VPE Ronald James Grensteiner sold 9,188 shares of the company in a transaction that took place on Tuesday, April 12. The stock was sold at an average price of $38.31, for a total value of $351,992.28. Following the transaction, the executive vice president now directly owns 89,039 shares of the company, valued at $3,411,084.09. Disclosure of this sale can be found here. Insiders sold a total of 29,007 shares of the company worth $1,112,023 in the past 90 days. Insiders of the company own 1.90% of the shares of the company.

A number of large investors have recently increased or reduced their stakes in the stock. Icon Advisers Inc. Co. acquired a new stake in American Equity Investment Life in the first quarter, valued at approximately $5,883,000. Virtu Financial LLC acquired a new stake in shares of American Equity Investment Life during the first quarter, valued at approximately $217,000. Jane Street Group LLC acquired a new equity stake in American Equity Investment Life during the first quarter, valued at approximately $3,019,000. Quantbot Technologies LP acquired a new stake in the shares of American Equity Investment Life during the first quarter, valued at approximately $105,000. Finally, Dynamic Technology Lab Private Ltd acquired a new equity stake in American Equity Investment Life during the first quarter valued at approximately $239,000. 95.15% of the shares are currently held by institutional investors and hedge funds.

AEL opened at $41.35 on Monday. The company has a market capitalization of $3.85 billion, a P/E ratio of 5.60 and a beta of 1.10. American Equity Investment Life has a 52-week low of $27.12 and a 52-week high of $44.49. The company has a debt ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17. The company’s 50-day moving average is $38.31 and its 200-day moving average is $38.66.

American Equity Investment Life (NYSE: AEL – Get a rating) last reported results on Wednesday, May 4. The financial services provider reported earnings per share (EPS) of $0.92 for the quarter, missing the consensus estimate of $0.95 ($0.03). The company posted revenue of $147.80 million for the quarter, versus analyst estimates of $612.85 million. American Equity Investment Life achieved a return on equity of 7.26% and a net margin of 26.35%. The company’s revenue for the quarter was down 84.6% from the same quarter last year. During the same period last year, the company posted earnings per share of $0.43. On average, research analysts predict that American Equity Investment Life will post earnings per share of 4.06 for the current fiscal year.

American Equity Investment Life Insurance Company Profile (Get a rating)

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues index and fixed rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks and registered investment advisers.

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