American Equity Investment Life Holding (NYSE:AEL – Get Rating) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,290,000 shares, a decline of 8.4% from the August 15th total of 2,500,000 shares. Based on an average daily volume of 540,700 shares, the short-interest ratio is currently 4.2 days. Approximately 2.7% of the company's stock are short sold.
American Equity Investment Life Price Performance
AEL stock traded up $0.51 on Wednesday, hitting $38.49. 11,043 shares of the company's stock traded hands, compared to its average volume of 633,131. American Equity Investment Life has a 1-year low of $27.12 and a 1-year high of $44.49. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 3.21 and a beta of 1.04. The stock has a fifty day moving average of $37.75 and a 200-day moving average of $38.06. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.15.
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American Equity Investment Life (NYSE:AEL – Get Rating) last released its earnings results on Monday, August 8th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.71 by $0.27. American Equity Investment Life had a net margin of 61.05% and a return on equity of 8.22%. The business had revenue of $121.40 million during the quarter, compared to analyst estimates of $628.20 million. During the same period in the prior year, the business earned $0.98 earnings per share. The business's quarterly revenue was down 88.7% on a year-over-year basis. On average, analysts forecast that American Equity Investment Life will post 3.78 EPS for the current fiscal year.
Insider Transactions at American Equity Investment Life
In related news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the executive vice president now owns 36,439 shares of the company's stock, valued at approximately $1,457,560. The sale was disclosed in a legal filing with the SEC, which is available through
this link. Insiders own 1.59% of the company's stock.
Institutional Investors Weigh In On American Equity Investment Life
Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of American Equity Investment Life during the second quarter valued at approximately $29,000. Byrne Asset Management LLC increased its stake in American Equity Investment Life by 95.9% in 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 during the period. CoreCap Advisors LLC acquired a new position in American Equity Investment Life in the 2nd quarter valued at approximately $38,000. Castleview Partners LLC increased its stake in shares of American Equity Investment Life by 282.0% during the 2nd quarter. Castleview Partners LLC now owns 382 shares of the financial services provider's stock worth $53,000 after purchasing an additional 282 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of American Equity Investment Life during the 1st quarter worth $65,000. Institutional investors and hedge funds own 93.16% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on AEL shares. Evercore ISI lowered shares of American Equity Investment Life from an "outperform" rating to an "in-line" rating and boosted their target price for the company from $42.00 to $44.00 in a research note on Monday, August 15th. They noted that the move was a valuation call. Keefe, Bruyette & Woods lowered shares of American Equity Investment Life from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $43.00 to $41.00 in a research note on Wednesday, July 13th. Raymond James boosted their target price on shares of American Equity Investment Life from $40.00 to $48.00 and gave the company an "outperform" rating in a research note on Monday, August 15th. Piper Sandler reduced their target price on shares of American Equity Investment Life from $44.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, July 8th. Finally, Truist Financial boosted their target price on shares of American Equity Investment Life from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, August 11th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $43.60.
American Equity Investment Life 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 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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