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American Equity Investment Life Holding (NYSE:AEL) Short Interest Down 8.4% in August

Defense World · Sep 22, 2022 04:32

American Equity Investment Life Holding (NYSE:AEL – Get Rating) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 2,290,000 shares, a decrease of 8.4% from the August 15th total of 2,500,000 shares. Based on an average daily volume of 540,700 shares, the days-to-cover ratio is presently 4.2 days. Approximately 2.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Raymond James upped their price objective on shares of American Equity Investment Life from $40.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 15th. Piper Sandler reduced their price objective 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 lifted their target price on American Equity Investment Life from $45.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, August 11th. Evercore ISI downgraded American Equity Investment Life from an "outperform" rating to an "in-line" rating and lifted their target price for the stock from $42.00 to $44.00 in a report on Monday, August 15th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods downgraded American Equity Investment Life from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $43.00 to $41.00 in a report on Wednesday, July 13th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, American Equity Investment Life currently has a consensus rating of "Hold" and a consensus price target of $43.60.

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American Equity Investment Life Stock Down 0.8 %

Shares of NYSE:AEL opened at $37.68 on Thursday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 3.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.16 and a quick ratio of 0.16. The business's 50-day moving average is $37.82 and its 200-day moving average is $38.05. American Equity Investment Life has a 1 year low of $27.69 and a 1 year high of $44.49.

American Equity Investment Life (NYSE:AEL – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.27. The company had revenue of $121.40 million for the quarter, compared to the consensus estimate of $628.20 million. American Equity Investment Life had a return on equity of 8.22% and a net margin of 61.05%. The firm's revenue was down 88.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Equities research analysts predict that American Equity Investment Life will post 3.78 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey D. Lorenzen sold 25,000 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 36,439 shares in the company, valued at approximately $1,457,560. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.59% of the stock is owned by corporate insiders.

Institutional Trading of American Equity Investment Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Castleview Partners LLC lifted its stake in American Equity Investment Life by 282.0% in the second quarter. Castleview Partners LLC now owns 382 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 282 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in American Equity Investment Life by 0.8% in the second quarter. Congress Asset Management Co. MA now owns 43,859 shares of the financial services provider's stock valued at $1,604,000 after purchasing an additional 330 shares during the last quarter. Byrne Asset Management LLC lifted its stake in American Equity Investment Life by 95.9% in the first 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. Mercer Global Advisors Inc. ADV lifted its stake in American Equity Investment Life by 3.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 13,745 shares of the financial services provider's stock valued at $549,000 after purchasing an additional 498 shares during the last quarter. Finally, Covestor Ltd lifted its stake in American Equity Investment Life by 38.9% in the first quarter. Covestor Ltd now owns 2,180 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 610 shares during the last quarter. 93.16% of the stock is owned by institutional investors.

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.