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American Equity Investment Life Holding (NYSE:AEL – Get Rating) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 1,300,000 shares, an increase of 40.6% from the April 30th total of 924,800 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 581,200 shares, the days-to-cover ratio is currently 2.2 days.
In other American Equity Investment Life news, Director Joyce Ann Chapman sold 3,856 shares of American Equity Investment Life stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $38.26, for a total value of $147,530.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ronald James Grensteiner sold 9,188 shares of the firm’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $38.31, for a total value of $351,992.28. Following the completion of the sale, the executive vice president now directly owns 89,039 shares of the company’s stock, valued at approximately $3,411,084.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,007 shares of company stock valued at $1,112,023. 1.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new stake in American Equity Investment Life during the 4th quarter valued at $27,000. Byrne Asset Management LLC boosted 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 purchasing an additional 470 shares during the last quarter. Strs Ohio purchased a new stake in American Equity Investment Life during the 4th quarter valued at $42,000. Covestor Ltd purchased a new stake in American Equity Investment Life during the 4th quarter valued at $61,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of American Equity Investment Life in the 1st quarter worth $65,000. Institutional investors and hedge funds own 95.15% of the company’s stock.
A number of equities research analysts have commented on AEL shares. Zacks Investment Research raised American Equity Investment Life from a “sell” rating to a “hold” rating and set a $37.00 price objective for the company in a research note on Tuesday, May 10th. Morgan Stanley raised their price objective on American Equity Investment Life from $40.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 22nd. Finally, StockNews.com cut American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $42.18.
AEL stock opened at $41.35 on Monday. American Equity Investment Life has a twelve month low of $27.12 and a twelve month high of $44.49. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.85 billion, a PE ratio of 5.60 and a beta of 1.10. The business has a 50 day moving average of $38.31 and a 200 day moving average of $38.66.
American Equity Investment Life (NYSE:AEL – Get Rating) last issued its earnings results on Wednesday, May 4th. The financial services provider reported $0.92 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.03). American Equity Investment Life had a net margin of 26.35% and a return on equity of 7.26%. The business had revenue of $147.80 million for the quarter, compared to analysts’ expectations of $612.85 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was down 84.6% on a year-over-year basis. On average, research analysts expect that American Equity Investment Life will post 4.06 earnings per share for the current fiscal year.
About American Equity Investment Life (Get Rating)
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues 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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