American Equity Investment Life Holding (AEL)

American Equity Investment Life Insurance Company® is a full-service underwriter of fixed annuity products, with a primary emphasis on the sale of index annuities. Headquartered in West Des Moines, Iowa, American Equity Investment Life Insurance Company is committed to providing products with integrity, as well as superior service to the agents it partners with and their policyholders.

Company profile

Ticker

AEL, AEL-PA, AEL-PB

Exchange

NYSE

Website

www.american-equity.com

CEO

Anant Bhalla

Incorporated

Iowa

Location

Iowa

Fiscal year end

Dec 31

Sector

Finance and Insurance > Direct Life Insurance Carriers

Industry (SIC)

Life Insurance

Metlife • Prudential Financial • Jackson Financial • Lincoln National Life Insurance • Brighthouse Financial • Voya Financial • Lincoln National • Genworth Financial • Athene Holding • Protective Life ...

SEC CIK

0001039828

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

American Equity Investment Life Insurance Company • Eagle Life Insurance Company • AEL Re Vermont Inc. • AEL Re Bermuda Ltd. • AE Capital, LLC • High Trestle Investment Management, LLC • NC Securities Holdco, LLC ...

IRS number

421447959

AEL stock data

1M 1Y 5Y

News

From Benzinga Pro

Expert Ratings for American Equity Investment Life Holding

11 Aug 22

American Equity Inv (NYSE:AEL) has observed the following analyst ratings within the last quarter:

Truist Securities Maintains Buy on American Equity Inv, Raises Price Target to $51

11 Aug 22

Truist Securities analyst Mark Hughes maintains American Equity Inv (NYSE:AEL) with a Buy and raises the price target from $45 to $51.

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Press releases

From Benzinga Pro

Eagle Life Insurance Company® Partners With InvestCloud for Tailored Approach to the Sales Experience

10 Aug 22

InvestCloud Digital Planning enables financial professionals to conduct planning analysis using Eagle Life products Eagle Life Insurance Company®, a provider of fixed and index annuities, has announced today that

American Equity Reports Strong Results as Investment Yield Improves

8 Aug 22

Company Highlights Q2 2022 net income available to common stockholders of $349.7 million, or $3.74 per diluted common share Non-GAAP operating income1 available to common stockholders for the second quarter 2022

American Equity Schedules Second Quarter 2022 Earnings Release, Conference Call and Webcast

1 Aug 22

American Equity Investment Life Holding Company (NYSE:AEL) announced today that it will release second quarter 2022 earnings and other financial results after the close of market on Monday, August 8, 2022. The second

American Equity Declares 3rd Quarter 2022 Preferred Stock Dividends

29 Jul 22

Analyst ratings and price targets

Last 3 months

Average target

$42.17

Low target

$38.00

High target

$51.00

Keefe, Bruyette & Woods

Calendar

9 May 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart AEL financial data

Quarter (USD)	Mar 22	Dec 21	Sep 21	Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	1.93B	1.93B	1.93B	1.93B	1.93B	1.93B
Cash burn (monthly)	858.36M	762.77M	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	3.8B	3.37B	n/a	n/a	n/a	n/a
Cash remaining	-1.86B	-1.44B	n/a	n/a	n/a	n/a
Runway (months of cash)	-2.2	-1.9	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

AEL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
9 Aug 22	Jeffrey D Lorenzen	Common Stock	Sell	Dispose S	No	Yes	40.0031	25,000	1M	36,439
1 Aug 22	Nicholas P. Volpe	RSU	Grant	Acquire A	No	No	0	12,006	0	12,006
15 Jun 22	End Re	Common Stock	Other	Dispose J	No	No	39.1769	3,857,184	151.11M	12,028,979
10 Jun 22	Mulcahy David S.	Common Stock	Grant	Acquire A	No	No	0	3,601	0	125,061

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

AEL institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	236	233	+1.3%
Opened positions	37	44	-15.9%
Closed positions	34	23	+47.8%
Increased positions	82	72	+13.9%
Reduced positions	83	81	+2.5%

13F shares	Current	Prev Q	Change
Total value	4.26B	3.43B	+24.2%
Total shares	106.25M	97.26M	+9.3%
Total puts	13.3K	14.7K	-9.5%
Total calls	9.7K	6.4K	+51.6%
Total put/call ratio	1.4	2.3	-40.3%

Largest owners	Shares	Value	Change
BAM Brookfield Asset Management	15.89M	$634.02M	+74.5%
BAMR Brookfield Asset Management Reinsurance Partners Ltd	15.89M	$654.67M	+74.4%
BLK Blackrock	13.32M	$531.51M	+0.4%
Vanguard	9.18M	$366.33M	-7.3%
Dimensional Fund Advisors	6.9M	$275.51M	+2.9%
MCQEF Macquarie	5.17M	$206.24M	+0.5%
River Road Asset Management	4.02M	$160.52M	-11.5%
STT State Street	3.19M	$127.31M	+4.7%
Clearbridge Advisors	2.82M	$112.35M	+0.1%
GS Goldman Sachs	1.94M	$77.41M	-17.7%

Largest transactions	Shares	Bought/sold	Change
BAM Brookfield Asset Management	15.89M	+6.78M	+74.5%
BAMR Brookfield Asset Management Reinsurance Partners Ltd	15.89M	+6.77M	+74.4%
Lakewood Capital Management	266.21K	-1.46M	-84.6%
Norges Bank	0	-875.25K	EXIT
Jacobs Levy Equity Management	875.27K	+751.76K	+608.7%
Vanguard	9.18M	-721K	-7.3%
River Road Asset Management	4.02M	-523.45K	-11.5%
Point72 Asset Management	137.79K	-460.22K	-77.0%
GS Goldman Sachs	1.94M	-418.5K	-17.7%
PZN Pzena Investment Management	1.82M	-244.45K	-11.8%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Annuity deposits before coinsurance ceded increased 62% during 2021 compared to 2020. Annuity deposits after coinsurance ceded increased 52% during 2021 compared to 2020. The increase in sales in 2021 compared to 2020 was driven by the sales of multi-year fixed rate annuity products introduced in late 2020 at both American Equity Life and Eagle Life and increased sales of fixed index annuities at both American Equity Life and Eagle Life. This growth is due to fixed index annuity product refreshes at both American Equity Life and Eagle Life, the introduction of two new products at American Equity Life and strong sales of single premium deferred annuity products at both Eagle Life and American Equity Life during the first three quarters of 2021. Sales levels in 2021 also benefited from an improving sales environment compared to 2020.

Content analysis

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From filing 10-Q 2022 Q1

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