Why American Equity Investment Life Stock Dropped 14% This Week
American Equity Investment Life Holding (NYSE: AEL) stock had a volatile week, falling 14% from last Friday's close as of 1:45 p.m. ET today, according to data from S&P Global Market Intelligence. Shares surged 3.1% higher for the day as of the same time, giving them some positive momentum to end the week. The stock is down 8% year to date.
It lagged the major indexes as the Dow Jones Industrial Average was up 3.9%, the S&P 500 was up 5.6%, and the Nasdaq jumped 8% for the week as of Friday afternoon.
American Equity Investment Life is a life insurer and annuity provider, which specializes in fixed index annuities. It had a wild week, posting third-quarter earnings on Monday that topped analysts' estimates with adjusted earnings per share of $0.99 -- down from $1.46 per share a year ago.
Source Fool.com
