AEL short interest declines, indicating growing optimism among investors

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. American Equity Investment Life Holding Company shares valued at $252,034 were purchased by Matula Alan David on Mar 22. At $35.50 per share, Matula Alan David acquired 7,100 shares. The insider’s holdings grew to 39,942 shares worth approximately $1.59 million following the completion of this transaction.

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Also, Lorenzen Jeffrey D sold 25,000 shares, netting a total of over 1,000,078 in proceeds. Following the sale of shares at $40.00 each, the insider now holds 36,439 shares.

Analyzing AEL Stock Performance

On Thursday, American Equity Investment Life Holding Company [NYSE: AEL] rose 0.20% to $39.81. The stock’s lowest price that day was $39.51, but it reached a high of $40.17 in the same session. During the last five days, there has been a surge of approximately 1.74%. Over the course of the year, American Equity Investment Life Holding Company shares have dropped approximately -12.74%. Shares of the company reached a 52-week high of $48.37 on 02/09/23 and a 52-week low of $31.57 on 03/16/23. A 50-day SMA is recorded $37.48, while a 200-day SMA reached $40.21. Nevertheless, trading volume fell to 0.54 million shares from 0.45 million shares the previous day.

Support And Resistance Levels for American Equity Investment Life Holding Company (AEL)

According to the 24-hour chart, there is a support level at 39.49, which, if violated, would cause prices to drop to 39.17. In the upper region, resistance lies at 40.15. The next price resistance is at 40.49. RSI (Relative Strength Index) is 58.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.55, which suggests the price will decrease in the coming days. Percent R is at 48.10%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is American Equity Investment Life Holding Company subject to short interest?

Stocks of American Equity Investment Life Holding Company saw a sharp steep in short interest on May 14, 2023 dropping by -0.92 million shares to 3.86 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 4.78 million shares. A decline of -23.83% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8 of the overall float, the days-to-cover ratio (short ratio) decline to 8.

Which companies own the most shares of American Equity Investment Life Holding Company (AEL)?

According to Brookfield Asset Management PIC C filings, the company currently owns 15,886,163 shares, which is about 18.74% of the total AEL shares outstanding. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $404,482,233. The Vanguard Group, Inc. reduced a -3.46% interest valued at $361.79 million while Dimensional Fund Advisors LP sold a -304,123 stake. A total of 51,492 shares of American Equity Investment Life Holding Company were sold by SSgA Funds Management, Inc. during the quarter, and -247,189 were sold by ClearBridge Investments LLC. In its current portfolio, Macquarie Investment Management B holds 2,135,739 shares valued at $82.31 million.

In terms of American Equity Investment Life Holding Company share price expectations, FactSet research, analysts set an average price target of $44.18 in the next 12 months, up nearly 10.75% from the previous closing price of $39.73. Analysts anticipate American Equity Investment Life Holding Company stock to reach $50.00 by 2023, with the lowest price target being $40.00. In spite of this, 11 analysts ranked American Equity Investment Life Holding Company stock as an Overweight at the end of 2023.

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