American Equity Investment Life Holding (NYSE:AEL) Short interest down 8.4% in August

American Equity Investment Life Holding (NYSE: AEL – Get a rating) was the target of a sharp decline in short-term interest in August. As of August 31, there was short interest totaling 2,290,000 shares, down 8.4% from the total of 2,500,000 shares as of August 15. Based on an average daily volume of 540,700 shares, the day-to-cover ratio is currently 4.2 days. About 2.7% of the stock’s shares are sold short.

A Wall Street analyst gives his opinion

A number of stock analysts have recently released reports on the stock. Raymond James raised its price target on shares of American Equity Investment Life from $40.00 to $48.00 and gave the stock an “outperform” rating in a Monday, August 15 research report. Piper Sandler cut her price target on American Equity Investment Life shares from $44.00 to $41.00 and set an “overweight” rating on the stock in a Friday, July 8 research note. Truist Financial raised its price target on American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a Thursday, August 11 report. Evercore ISI downgraded American Equity Investment Life from an “outperform” rating to an “in line” rating and raised its share price target from $42.00 to $44.00 in a report on Monday 15 august. They noted that the move was a review call. Finally, Keefe, Bruyette & Woods downgraded American Equity Investment Life from an “outperform” rating to a “market performance” rating and reduced their target price for the stock from $43.00 to $41.00 in a report on Wednesday, July 13. Six equity research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, American Equity Investment Life currently has a consensus rating of “Hold” and a consensus price target of $43.60.

American Equity Investment Life Stock down 0.8%

NYSE:AEL shares opened at $37.68 on Thursday. The company has a market capitalization of $3.30 billion, a price-earnings ratio of 3.19 and a beta of 1.04. The company has a debt ratio of 0.15, a current ratio of 0.16 and a quick ratio of 0.16. The company’s 50-day moving average is $37.82 and its 200-day moving average is $38.05. American Equity Investment Life has a 1 year minimum of $27.69 and a 1 year maximum of $44.49.

American Equity Investment Life (NYSE: AEL – Get a rating) last reported its quarterly earnings data on Monday, August 8. The financial services provider reported earnings per share (EPS) of $0.98 for the quarter, beating consensus analyst estimates of $0.71 by $0.27. The company posted revenue of $121.40 million for the quarter, versus a consensus estimate of $628.20 million. American Equity Investment Life achieved a return on equity of 8.22% and a net margin of 61.05%. The company’s revenues were down 88.7% from the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.98. Equity research analysts expect American Equity Investment Life to post earnings per share of 3.78 for the current year.

Insider buying and selling

In related news, EVP Jeffrey D. Lorenzo sold 25,000 shares of the company in a transaction that took place on Tuesday, August 9. The shares were sold at an average price of $40.00, for a total transaction 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 an SEC filing, which is available via the SEC website. 1.59% of the shares are held by insiders.

Institutional U.S. Equity Trading Investment Life

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Castleview Partners LLC increased its stake in American Equity Investment Life by 282.0% in the second quarter. Castleview Partners LLC now owns 382 shares of the financial services provider worth $53,000 after buying an additional 282 shares in the last quarter. Congress Asset Management Co. MA increased its stake in American Equity Investment Life by 0.8% in the second quarter. Congress Asset Management Co. MA now owns 43,859 shares of the financial services provider valued at $1,604,000 after buying 330 additional shares in the last quarter. Byrne Asset Management LLC increased its stake in American Equity Investment Life to 95.9% in the first quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider valued at $38,000 after buying an additional 470 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in American Equity Investment Life by 3.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 13,745 shares of the financial services provider valued at $549,000 after buying 498 additional shares in the last quarter. Finally, Covestor Ltd increased its stake in American Equity Investment Life by 38.9% in the first quarter. Covestor Ltd now owns 2,180 shares of the financial services provider valued at $87,000 after buying an additional 610 shares in the last quarter. 93.16% of the shares are held by institutional investors.

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.

See also

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