American Equity Investment Life Holding (NYSE:AEL) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,990,000 shares, an increase of 8.7% from the December 15th total of 1,830,000 shares. Based on an average daily trading volume, of 489,400 shares, the days-to-cover ratio is currently 4.1 days. Approximately 2.2% of the shares of the company are short sold.
A number of research analysts have weighed in on AEL shares. Zacks Investment Research upgraded American Equity Investment Life from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a report on Monday, January 20th. ValuEngine upgraded American Equity Investment Life from a “sell” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, B. Riley reissued a “neutral” rating on shares of American Equity Investment Life in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. American Equity Investment Life presently has a consensus rating of “Hold” and an average target price of $30.50.
In other news, CEO John M. Matovina sold 15,704 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $29.76, for a total transaction of $467,351.04. Following the sale, the chief executive officer now owns 236,086 shares of the company’s stock, valued at approximately $7,025,919.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Debra J. Richardson sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.77, for a total transaction of $535,860.00. Following the sale, the director now directly owns 128,242 shares in the company, valued at approximately $3,817,764.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,900 shares of company stock worth $1,039,104. 1.99% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in shares of American Equity Investment Life by 7.2% in the 4th quarter. Russell Investments Group Ltd. now owns 372,077 shares of the financial services provider’s stock worth $11,123,000 after purchasing an additional 24,837 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of American Equity Investment Life by 0.6% during the 4th quarter. Chartwell Investment Partners LLC now owns 424,800 shares of the financial services provider’s stock valued at $12,714,000 after purchasing an additional 2,550 shares during the period. SG Americas Securities LLC acquired a new position in shares of American Equity Investment Life during the 4th quarter valued at $695,000. California Public Employees Retirement System increased its position in shares of American Equity Investment Life by 11.2% during the 4th quarter. California Public Employees Retirement System now owns 273,633 shares of the financial services provider’s stock valued at $8,190,000 after purchasing an additional 27,589 shares during the period. Finally, Dupont Capital Management Corp acquired a new position in shares of American Equity Investment Life during the 4th quarter valued at $473,000. Hedge funds and other institutional investors own 91.75% of the company’s stock.
NYSE AEL opened at $26.86 on Thursday. American Equity Investment Life has a 1-year low of $20.16 and a 1-year high of $33.57. The company has a market cap of $2.52 billion, a P/E ratio of 30.87 and a beta of 2.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a 50-day moving average of $29.40 and a two-hundred day moving average of $26.10.
American Equity Investment Life (NYSE:AEL) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $2.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $1.56. The company had revenue of $643.40 million for the quarter, compared to analyst estimates of $641.01 million. The business’s quarterly revenue was down 46.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 earnings per share. On average, analysts anticipate that American Equity Investment Life will post 5.62 EPS for the current fiscal year.
About American Equity Investment Life
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.
