Short Interest in American Equity Investment Life Holding (NYSE:AEL) Drops By 11.8%

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American Equity Investment Life Holding (NYSE:AEL) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 1,350,000 shares, a decrease of 11.8% from the August 30th total of 1,530,000 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 475,900 shares, the short-interest ratio is presently 2.8 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of AEL. State of Tennessee Treasury Department increased its holdings in American Equity Investment Life by 9.6% in the first quarter. State of Tennessee Treasury Department now owns 90,240 shares of the financial services provider’s stock valued at $2,438,000 after purchasing an additional 7,912 shares during the period. Clearbridge Investments LLC increased its holdings in American Equity Investment Life by 6.8% in the first quarter. Clearbridge Investments LLC now owns 1,650,649 shares of the financial services provider’s stock valued at $44,601,000 after purchasing an additional 105,509 shares during the period. GYL Financial Synergies LLC acquired a new stake in American Equity Investment Life in the first quarter valued at $2,277,000. Nordea Investment Management AB increased its holdings in American Equity Investment Life by 6.0% in the first quarter. Nordea Investment Management AB now owns 331,373 shares of the financial services provider’s stock valued at $8,953,000 after purchasing an additional 18,838 shares during the period. Finally, First Trust Advisors LP increased its holdings in American Equity Investment Life by 35.4% in the first quarter. First Trust Advisors LP now owns 93,246 shares of the financial services provider’s stock valued at $2,520,000 after purchasing an additional 24,396 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

AEL has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of American Equity Investment Life from a “buy” rating to a “sell” rating in a report on Tuesday, October 8th. Citigroup lowered their price target on shares of American Equity Investment Life from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, ValuEngine upgraded shares of American Equity Investment Life from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.25.

Shares of NYSE:AEL traded up $0.31 during trading on Monday, hitting $23.24. 19,953 shares of the company were exchanged, compared to its average volume of 465,749. The business’s 50 day moving average is $22.89 and its 200-day moving average is $26.21. The company has a market capitalization of $2.04 billion, a P/E ratio of 4.98 and a beta of 2.00. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. American Equity Investment Life has a 1-year low of $20.16 and a 1-year high of $36.11.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Monday, August 5th. The financial services provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.14. The company had revenue of $706.39 million during the quarter, compared to analyst estimates of $632.38 million. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 earnings per share. As a group, sell-side analysts anticipate that American Equity Investment Life will post 4.04 earnings per share for the current year.

American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. It markets its products through independent agents, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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