American Equity Investment Life Holding ( NYSE:AEL – Get Rating ) was the target of a large increase in short interest in March. As of March 31st, short interest totaled 5,480,000 shares, an increase of 242.5% from the March 15th total of 1,600,000 shares. About 6.6% of the company’s stock is sold short. Based on an average daily volume of 682,600 shares, the day-to-cover ratio is currently 8.0 days.
In other news, Director Alan David Matula acquired 7,100 shares of American Equity Investment Life stock in a transaction dated Wednesday, March 22nd. The shares were acquired at an average cost of $35.50 per share, for a total transaction of $252,050.00. Following the acquisition, the director now owns 39,942 shares of the company’s stock, valued at $1,417,941. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.59 percent of the company’s shares are owned by company insiders.
Hedge funds weigh in on American equity investment life
Some big investors have recently bought and sold shares of AEL. BlackRock Inc. lifted its position in American Equity Investment Life by 0.4% in the first quarter. BlackRock Inc. now owns 13,317,782 shares of the financial services provider’s stock valued at $531,512,000 after buying an additional 49,702 shares during the last quarter. Macquarie Group Ltd. lifted its position in American Equity Investment Life by 1.7% in the second quarter. Macquarie Group Ltd. now owns 5,253,182 shares of the financial services provider’s stock valued at $192,109,000 after purchasing an additional 85,531 shares during the last quarter. State Street Corp lifted its position in American Equity Investment Life by 4.7% during the first quarter. State Street Corp now owns 3,189,994 shares of the financial services provider’s stock valued at $127,313,000 after buying an additional 142,611 shares during the last quarter. Invesco Ltd. lifted its position in American Equity Investment Life by 12.0% in the first quarter. Invesco Ltd. now owns 1,836,085 shares of the financial services provider’s stock valued at $73,278,000 after buying an additional 196,589 shares during the last quarter. Finally, Barclays PLC lifted its position in American Equity Investment Life by 5,908.2% during the fourth quarter. Barclays PLC now owns 1,793,691 shares of the financial services provider’s stock valued at $81,829,000 after buying an additional 1,763,837 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.
Analyst rating changes
AEL has been the subject of several research analyst reports. Raymond James dropped their price target on shares of American Equity Investment Life from $48.00 to $47.00 in a research note on Friday. Piper Jaffray Companies downgraded shares of American Equity Investment Life from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $45.00 to $48.00 in a research report on Tuesday, February 21st. StockNews.com began coverage on shares of American Equity Investment Life in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Evercore ISI upped their price target on American Equity Investment Life from $38.00 to $43.00 and gave the stock an “in-line” rating in a research note on Wednesday, December 21st. Finally, Piper Sandler upped their price target on American Equity Investment Life from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, April 5th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.80, according to data from MarketBeat.com.
U.S. Equity Investment Life traded up 0.4%
Shares of NYSE:AEL traded up $0.13 during trading on Friday, reaching $36.98. The stock traded volume of 319,795 shares compared to its average volume of 657,014. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.14 billion, a P/E ratio of 2.96 and a beta of 0.88. The stock has a fifty-day moving average price of $39.57 and a 200-day moving average price of $41.05. American Equity Investment Life has a fifty-two week low of $28.05 and a fifty-two week high of $48.37.
American Equity Investment Life (NYSE:AEL – Ratings ) last released its earnings results on Friday, February 17th. The financial services provider reported $0.79 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.17). American Equity Investment Life had a return on equity of 9.84% and a net margin of 86.25%. The firm had revenue of $654.45 million during the quarter, compared to analysts’ expectations of $652.84 million. The firm earned $1.04 per share in the same period last year. The firm’s revenue was down 41.0% on a year-over-year basis. As a group, analysts anticipate that American Equity Investment Life will post 4.96 earnings per share for the current fiscal year.
About American Equity Investing Life
American Equity Investment Life Holding Company engages in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgage loans, agricultural mortgage loans, and residential mortgage loans. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.
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