Short Interest in American Equity Investment Life Holding (NYSE:AEL) Expands By 23.1%

American Equity Investment Life Holding (NYSE:AELGet Rating) saw a significant growth in short interest in 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. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 559,200 shares, the short-interest ratio is currently 2.9 days.

In other American Equity Investment Life news, EVP Ronald James Grensteiner sold 9,188 shares of the company’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $38.31, for a total value of $351,992.28. Following the transaction, the executive vice president now owns 89,039 shares of the company’s stock, valued at $3,411,084.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Icon Advisers Inc. Co. bought a new stake in American Equity Investment Life in the first quarter worth $5,883,000. Virtu Financial LLC bought a new stake in American Equity Investment Life in the first quarter worth $217,000. Jane Street Group LLC bought a new stake in American Equity Investment Life in the first quarter worth $3,019,000. Quantbot Technologies LP bought a new stake in American Equity Investment Life in the first quarter worth $105,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in American Equity Investment Life in the first quarter worth $239,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.

American Equity Investment Life stock opened at $35.13 on Friday. The company’s fifty day simple moving average is $38.32 and its 200-day simple moving average is $38.97. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.11. American Equity Investment Life has a 12 month low of $27.12 and a 12 month high of $44.49. The stock has a market cap of $3.27 billion, a P/E ratio of 4.75 and a beta of 1.09.

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

Several equities analysts have weighed in on the stock. StockNews.com cut shares of 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 objective on shares of American Equity Investment Life from $40.00 to $41.00 and gave the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.70.

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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