American Equity Investment Life Holding (NYSE:AEL) Short Interest Update

American Equity Investment Life Holding (NYSE: AEL – Get a rating) benefited from strong growth in short-term interest rates during the month of July. As of July 15, there was short interest totaling 2,060,000 shares, up 23.4% from the total of 1,670,000 shares as of June 30. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 583,200 shares, the day-to-cover ratio is currently 3.5 days.

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NYSE:AEL shares traded down $0.16 during Tuesday’s trading, hitting $37.32. The company had a trading volume of 452 shares, compared to an average volume of 453,015 shares. The company has a market capitalization of $3.47 billion, a price-earnings ratio of 5.07 and a beta of 1.06. The company has a debt ratio of 0.11, a current ratio of 0.17 and a quick ratio of 0.17. The stock’s fifty-day moving average price is $37.57 and its 200-day moving average price is $38.53. American Equity Investment Life has a fifty-two week low of $27.12 and a fifty-two week high of $44.49.

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 analyst consensus estimates of $0.95 per ($0.03). The company posted revenue of $147.80 million in the quarter, compared to analyst estimates of $612.85 million. American Equity Investment Life posted a net margin of 26.35% and a return on equity of 7.26%. The company’s revenue for the quarter was down 84.6% year over year. During the same period a year earlier, the company posted EPS of $0.43. As a group, equity research analysts expect American Equity Investment Life to post EPS of 3.52 for the current year.

Changes to analyst ratings

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A number of stock analysts have recently commented on the company. StockNews.com upgraded American Equity Investment Life from a “buy” to a “hold” rating in a Friday, May 20, report. Piper Sandler lowered its price target on American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating for the company in a Friday, July 8 research note. Credit Suisse Group downgraded American Equity Investment Life from an ‘outperforming’ rating to a ‘neutral’ rating and lowered its price target for the company from $43.00 to $38.00 in a Friday research note 22nd of July. Keefe, Bruyette & Woods upgraded American Equity Investment Life from an “outperform” rating to a “market performer” rating and lowered their price target for the company from $43.00 to $41.00 in a research note from Wednesday, July 13. Finally, Morgan Stanley lowered its price target on American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating for the company in a Wednesday, July 6 research note. Five investment analysts gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Institutional U.S. Equity Trading Investment Life

A number of institutional investors have recently shifted their AEL holdings. Strs Ohio bought a new stake in shares of American Equity Investment Life in the fourth quarter, valued at around $42,000. Allspring Global Investments Holdings LLC acquired a new stake in American Equity Investment Life during the fourth quarter at a value of $12,708,000. Yousif Capital Management LLC acquired a new stake in American Equity Investment Life during the fourth quarter at a value of $2,905,000. Zurcher Kantonalbank Zurcher Kantonalbank increased its position in American Equity Investment Life by 30.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,039 shares of the financial services provider worth $430,000 after buying 2,604 additional shares last quarter. Finally, 6 Meridian acquired a new stake in American Equity Investment Life during the fourth quarter at a value of $247,000. 95.15% of the shares are currently held by hedge funds and other institutional investors.

American Equity Investment Life Insurance Company Profile

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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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