Short-term stake in American Equity Investment Life Holding (NYSE:AEL) increases 13.1%

American Equity Investment Life Holding (NYSE: AEL – Get a rating) was the target of significant growth in short interest in the month of July. As of July 31, there was short interest totaling 2,330,000 shares, up 13.1% from the July 15 total of 2,060,000 shares. Based on an average daily trading volume of 561,400 shares, the short-term interest rate ratio is currently 4.2 days. Approximately 2.6% of the company’s shares are sold short.

Insider Activity at American Equity Investment Life

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 transaction, the executive vice president now owns 36,439 shares of the company, valued at $1,457,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Insiders own 1.59% of the shares of the company.

Institutional investors weigh in on US equity investment life

Major investors have recently increased or reduced their stake in the company. Lazard Asset Management LLC acquired a new stake in American Equity Investment Life during Q2 for $29,000. Byrne Asset Management LLC increased its holdings in American Equity Investment Life by 95.9% during the 1st quarter. Byrne Asset Management LLC now owns 960 shares of the financial services provider worth $38,000 after acquiring an additional 470 shares in the last quarter. CoreCap Advisors LLC acquired a new position in American Equity Investment Life during Q2 worth $38,000. Covestor Ltd acquired a new position in American Equity Investment Life during Q4 worth $61,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in American Equity Investment Life during Q1 worth $65,000. 95.15% of the shares are held by institutional investors and hedge funds.

US Stock Investment Life is trading down 0.8%

A d Investment trends

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Shares of American Equity Investment Life were down $0.35 during Friday trading hours, hitting $42.29. The company’s stock had a trading volume of 477,814 shares, compared to an 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 company has a fifty-day moving average of $37.32 and a 200-day moving average of $38.38. The company has a market capitalization 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 ratio of 0.15.

American Equity Investment Life (NYSE: AEL – Get a rating) last released its quarterly results on Monday, August 8. The financial services provider reported earnings per share of $0.98 for the quarter, beating consensus analyst estimates of $0.71 from $0.27. The company posted revenue of $121.40 million in the quarter, compared to analyst estimates of $628.20 million. American Equity Investment Life posted a net margin of 61.05% and a return on equity of 8.22%. The company’s revenue was down 88.7% year over year. During the same period last year, the company achieved EPS of $0.98. As a group, equity analysts expect American Equity Investment Life to post EPS of 3.71 for the current year.

Changes to analyst ratings

A number of stock analysts have weighed in on AEL shares. 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 shares 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 Friday, May 20 research note. Morgan Stanley cut its price target on American Equity Investment Life shares from $41.00 to $40.00 and set an “equal weight” rating on the stock in a Wednesday, July 6 research note . Finally, Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an “outperform” rating to a “market performer” rating and reduced their price target for the stock by $43.00. at $41.00 in a Wednesday July 13 research note. Five equity research analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, American Equity Investment Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

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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