American Equity Investment Life Holding (NYSE:AEL) Sees Strong Short-Term Interest Growth

American Equity Investment Life Holding (NYSE: AEL – Get a rating) was the target of strong short-term interest growth in August. As of August 15, there was short interest totaling 2,500,000 shares, a growth of 7.3% from the total of 2,330,000 shares as of July 31. Currently, 2.9% of the company’s shares are sold short. Based on an average daily trading volume of 550,600 shares, the short interest ratio is currently 4.5 days.

Analyst upgrades and downgrades

Several equity analysts have recently released reports on AEL shares. Piper Sandler lowered its price target on American Equity Investment Life from $44.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday July 8. Evercore ISI downgraded American Equity Investment Life from an “outperform” rating to an “in line” rating and raised its price target for the stock from $42.00 to $44.00 in a research note from the Monday August 15. They noted that the move was a review call. StockNews.com upgraded American Equity Investment Life from a “buy” to a “hold” rating in a Friday, May 20, report. Truist Financial raised its price target on American Equity Investment Life from $45.00 to $51.00 and gave the company a “buy” rating in a Thursday, August 11 research report. Finally, Morgan Stanley raised its price target on American Equity Investment Life shares from $40.00 to $43.00 and gave the stock an “equal weight” rating in a Wednesday, August 17 report. . Six analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.60.

American Equity Investment Life Stock down 1.1%

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NYSE:AEL shares traded down $0.42 on Thursday, hitting $37.58. 14,771 shares of the company were traded, against an average volume of 550,383. American Equity Investment Life has a 1-year low of $27.12 and a 1-year high of $44.49. The company has a market capitalization of $3.29 billion, a PE ratio of 3.18 and a beta of 1.06. The company has a debt ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. The company’s 50-day moving average is $37.53 and its 200-day moving average is $38.18.

American Equity Investment Life (NYSE: AEL – Get a rating) last announced its quarterly results on Monday, August 8. The financial services provider reported EPS of $0.98 for the quarter, beating the consensus estimate of $0.71 by $0.27. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. The company posted revenue of $121.40 million for the quarter, versus analyst estimates of $628.20 million. In the same period a year earlier, the company posted earnings of $0.98 per share. The company’s revenue was down 88.7% year over year. Sell-side analysts expect American Equity Investment Life to post EPS of 3.73 for the current year.

Insider Activity at American Equity Investment Life

In other news, EVP Jeffrey D. Lorenzo sold 25,000 shares of the company in a transaction dated Tuesday, August 9. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the transaction, the executive vice president now directly owns 36,439 shares of the company, valued at approximately $1,457,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. 1.59% of the shares are held by insiders of the company.

Institutional investors weigh in on US equity investment life

A number of institutional investors and hedge funds have been buying and selling stocks recently. Verition Fund Management LLC bought a new stake in shares of American Equity Investment Life in Q2, valued at approximately $306,000. Centiva Capital LP purchased a new stock position in American Equity Investment Life during the second quarter for a value of approximately $213,000. Castleview Partners LLC increased its equity stake in American Equity Investment Life by 282.0% in Q2. Castleview Partners LLC now owns 382 shares of the financial services provider valued at $53,000 after acquiring an additional 282 shares during the period. Captrust Financial Advisors increased its position in American Equity Investment Life by 16.4% in the second quarter. Captrust Financial Advisors now owns 14,306 shares of the financial services provider valued at $523,000 after buying 2,014 additional shares in the last quarter. Finally, Jane Street Group LLC increased its stake in American Equity Investment Life by 46.8% in the second quarter. Jane Street Group LLC now owns 111,058 shares of the financial services provider worth $4,061,000 after purchasing an additional 35,403 shares during the period. 93.16% of the shares are held by hedge funds and other institutional investors.

About American Equity Investment Life

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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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