Short interest in American Equity Investment Life Holding (NYSE:AEL) rose 13.1%

American Equity Investment Life Holding (NYSE:AEL – Get Rating ) was the target of a significant increase in short interest in July. As of July 31st, the number of shares shorted was 2,330,000 shares, up 13.1% from 2,060,000 shares as of July 15th. Based on an average daily volume of 561,400 shares, the short interest ratio is currently 4.2 days. Approximately 2.6% of the company’s shares are sold short.

Insider trading in American Equity Investment Life

In related news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $40.00, with a total transaction amounting to $1,000,000.00. Following the transaction, the executive vice president now owns 36,439 shares in the company, valued at $1,457,560. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed at this link. Insiders own 1.59% of the company’s shares.

Institutional investors evaluate the life of investments in American capital

Large investors have been adding or reducing their stakes in the company recently. Lazard Asset Management LLC purchased a new stake in American Equity Investment Life during the 2nd quarter valued at $29,000. Byrne Asset Management LLC raised its stake 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’s stock valued at $38,000 after buying an additional 470 shares in the last quarter. CoreCap Advisors LLC acquired a new position in American Equity Investment Life during the 2nd quarter valued at $38,000. Covestor Ltd acquired a new position in American Equity Investment Life during the 4th quarter valued at $61,000. Finally, Counterpoint Mutual Funds LLC bought a new position in American Equity Investment Life during the 1st quarter valued at $65,000. 95.15% of shares belong to institutional investors and hedge funds.

American Equity Investment Life Trading fell 0.8%

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American Equity Investment Life stock traded down $0.35 during trading on Friday, hitting $42.29. The company’s stock had a trading volume of 477,814 shares, compared to its average volume of 450,555. American Equity Investment Life has a 1-year low of $27.12. US and a 1-year high of $44.49. The business has a fifty day moving average of $37.32. US and 200-day moving average of $38.38. The company has a market cap 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-to-equity ratio of 0.15.

American Equity Investment Life (NYSE:AEL – Get Rating ) last issued its quarterly earnings results on Monday, August 8th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.27. The company had revenue of $121.40 million for the quarter, compared to analysts’ estimates of $628.20 million. American Equity Investment Life had a net return of 61.05% and a return on equity of 8.22%. The company’s revenue fell by 88.7% compared to the same period last year. During the same period last year, the business earned $0.98 earnings per share. Overall, equities analysts predict that American Equity Investment Life will post 3.71 EPS for the current year.

Changes in analysts’ ratings

A number of equities analysts have weighed in on AEL shares. Piper Sandler cut their target price on shares of American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Truist Financial upped their target price on shares of American Equity Investment Life 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 report on Friday, May 20th. Morgan Stanley cut their target price on shares of American Equity Investment Life from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods downgraded shares of American Equity Investment Life from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $43.00 to $41.00 in a research note on Wednesday, July 13th. Five equities research analysts have rated the stock with a hold rating and five have issued a “buy” rating to the company’s stock. American Equity Investment Life presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70, according to MarketBeat.com.

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 offers fixed index and 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 advisors.

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