Short-term stake in American Equity Investment Life Holding (NYSE:AEL) increases 23.1%

American Equity Investment Life Holding (NYSE: AEL – Get a rating) saw significant growth in short-term interest in May. As of May 31, there was short interest totaling 1,600,000 shares, up 23.1% from the total of 1,300,000 shares as of May 15. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 559,200 shares, the day-to-cover ratio is currently 2.9 days.

NYSE: AEL opened at $35.13 on Friday. The company has a market capitalization of $3.27 billion, a price-earnings ratio of 4.75 and a beta of 1.09. American Equity Investment Life has a one-year low of $27.12 and a one-year high of $44.49. The stock has a 50-day simple moving average of $38.32 and a 200-day simple moving average of $38.97. The company has a debt ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17.

American Equity Investment Life (NYSE: AEL – Get a rating) last released its quarterly results on Wednesday, May 4. The financial services provider reported 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 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% year over year. In the same quarter last year, the company posted earnings per share of $0.43. On average, equity research analysts expect American Equity Investment Life to post EPS of 3.91 for the current fiscal year.

AEL has been the subject of several research reports. 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, February 22 research report. StockNews.com downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Four research analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $42.70.

In other news from American Equity Investment Life, EVP Ronald James Grensteiner sold 9,188 shares of the company in a transaction dated 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. Insiders of the company own 1.90% of the shares of the company.

Major investors have recently been buying and selling stocks. Allspring Global Investments Holdings LLC acquired a new position in American Equity Investment Life in the fourth quarter worth approximately $12,708,000. Invesco Ltd. increased its stake in American Equity Investment Life by 19.3% in the third quarter. Invesco Ltd. now owns 1,676,174 shares of the financial services provider valued at $49,565,000 after acquiring an additional 271,562 shares during the period. Credit Suisse AG increased its stake in American Equity Investment Life by 63.3% in the fourth quarter. Credit Suisse AG now owns 117,670 shares of the financial services provider valued at $4,580,000 after acquiring an additional 45,595 shares during the period. Gyon Technologies Capital Management LP acquired a new position in American Equity Investment Life in the third quarter, valued at approximately $1,129,000. Finally, First Trust Advisors LP increased its stake in American Equity Investment Life by 5.7% in the fourth quarter. First Trust Advisors LP now owns 153,928 shares of the financial services provider valued at $5,991,000 after acquiring an additional 8,351 shares during the period. Institutional investors and hedge funds own 95.15% of the company’s shares.

About American Equity Investment Life (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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