American Equity Investment Life Holding (NYSE:AEL) Short Interest Up 23.1% in May

American Equity Investment Life Holding (NYSE:AEL – Get Rating) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,600,000 shares, a growth of 23.1% from the May 15th total of 1,300,000 shares. Based on an average daily volume of 559,200 shares, the days-to-cover ratio is currently 2.9 days. Approximately 1.8% of the company’s shares are sold short.

A number of analysts recently issued reports on the company. StockNews.com downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Morgan Stanley lifted their price target on shares of American Equity Investment Life from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 22nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $42.70.

In other news, EVP Ronald James Grensteiner sold 9,188 shares of the stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $38.31, for a total value of $351,992.28. Following the completion of the sale, the executive vice president now owns 89,039 shares of the company’s stock, valued at approximately $3,411,084.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AEL. Exchange Traded Concepts LLC increased its holdings in American Equity Investment Life by 1.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 21,688 shares of the financial services provider’s stock worth $844,000 after purchasing an additional 363 shares during the period. Meritage Portfolio Management increased its stake in shares of American Equity Investment Life by 5.4% during the fourth quarter. Meritage Portfolio Management now owns 7,347 shares of the financial services provider’s stock worth $286,000 after buying an additional 376 shares during the period. Profund Advisors LLC raised its holdings in American Equity Investment Life by 4.3% in the fourth quarter. Profund Advisors LLC now owns 9,211 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 378 shares in the last quarter. California State Teachers Retirement System lifted its stake in American Equity Investment Life by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 115,426 shares of the financial services provider’s stock worth $4,492,000 after acquiring an additional 426 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in American Equity Investment Life by 1.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 32,825 shares of the financial services provider’s stock worth $1,278,000 after acquiring an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 95.15% of the company’s stock.

Shares of AEL opened at $35.28 on Friday. The company’s 50-day simple moving average is $38.28 and its 200-day simple moving average is $39.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17. 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 capitalization of $3.28 billion, a PE ratio of 4.77 and a beta of 1.09.

American Equity Investment Life (NYSE:AEL – Get Rating) last announced its earnings results on Wednesday, May 4th. The financial services provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.03). The business had revenue of $147.80 million for the quarter, compared to analysts’ expectations of $612.85 million. American Equity Investment Life had a return on equity of 7.26% and a net margin of 26.35%. American Equity Investment Life’s quarterly revenue was down 84.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. On average, sell-side analysts predict that American Equity Investment Life will post 3.91 earnings per share for the current year.

About American Equity Investment Life (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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