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

American Equity Investment Life Holding (NYSE:AELGet Rating) was the recipient of a significant 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. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 540,700 shares, the short-interest ratio is currently 4.2 days.

Insider Activity

In other 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, 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 of the company’s stock, valued at $1,457,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AEL. Lazard Asset Management LLC purchased a new position in shares of American Equity Investment Life during the 2nd quarter worth $29,000. Byrne Asset Management LLC grew its holdings in shares of 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 worth $38,000 after purchasing an additional 470 shares during the period. CoreCap Advisors LLC purchased a new position in shares of American Equity Investment Life during the 2nd quarter worth $38,000. Castleview Partners LLC grew its holdings 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 period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of American Equity Investment Life during the 1st quarter worth $65,000. 93.16% of the stock is owned by institutional investors and hedge funds.

American Equity Investment Life Stock Down 0.8 %

Shares of NYSE AEL opened at $37.68 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 3.19 and a beta of 1.04. The stock has a 50 day moving average price of $37.82 and a 200 day moving average price of $38.05. American Equity Investment Life has a 52-week low of $27.69 and a 52-week high of $44.49.

American Equity Investment Life (NYSE:AELGet Rating) last released its earnings results on Monday, August 8th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.27. American Equity Investment Life had a return on equity of 8.22% and a net margin of 61.05%. The firm had revenue of $121.40 million for the quarter, compared to the consensus estimate of $628.20 million. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s revenue was down 88.7% on a year-over-year basis. Sell-side analysts expect that American Equity Investment Life will post 3.78 earnings per share for the current year.

Analysts Set New Price Targets

AEL has been the subject of a number of research reports. Keefe, Bruyette & Woods cut 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 report on Wednesday, July 13th. Morgan Stanley upped their target price on shares of American Equity Investment Life from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, August 17th. Truist Financial upped their price target on shares of American Equity Investment Life from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Piper Sandler dropped their price target on shares of American Equity Investment Life from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Finally, Evercore ISI lowered shares of American Equity Investment Life from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $42.00 to $44.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.60.

American Equity Investment Life Company Profile

(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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