AEL American Equity Investment Life Holding

American Equity Investment Life Holding Co. engages in the development and sale of annuity and life insurance products through its subsidiaries. It focuses on issuing fixed index and fixed rate annuities. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.
Company profile
Ticker
AEL, AEL-PA, AEL-PB
Exchange
Website
CEO
Anant Bhalla
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
421447959
AEL stock data
()
News
Morgan Stanley Maintains Equal-Weight on American Equity Inv, Raises Price Target to $31
1 Apr 21
Morgan Stanley Maintains Equal-Weight on American Equity Inv, Lowers Price Target to $29
22 Feb 21
Morgan Stanley Maintains Equal-Weight on American Equity Inv, Lowers Price Target to $29
19 Feb 21
Recap: American Equity Inv Q4 Earnings
17 Feb 21
American Equity Inv Q4 EPS $0.77 Misses $0.97 Estimate
17 Feb 21
Press releases
American Equity Names Phyllis Zanghi as Chief Legal Officer
1 Apr 21
American Equity Rolls out Accumulation Product Enhancements
22 Feb 21
American Equity Investment Life Holding Co. to Host Earnings Call
18 Feb 21
American Equity Reports Fourth Quarter and Full Year 2020 Results
17 Feb 21
Eagle Life Insurance Company Names Albert as Head of Sales
9 Feb 21
Calendar
1 Mar 21
13 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
24 Mar 21 | Neugent Gerard D. | Common Stock | Sell | Dispose S | No | No | 29.3645 | 6,281 | 184.44K | 38,219 |
24 Mar 21 | Neugent Gerard D. | Common Stock | Option exercise | Aquire M | No | No | 12.26 | 15,000 | 183.9K | 44,500 |
24 Mar 21 | Neugent Gerard D. | Options - Right to Buy Common Stock | Option exercise | Dispose M | No | No | 12.26 | 15,000 | 183.9K | 0 |
19 Mar 21 | John M Matovina | Common Stock | Sell | Dispose S | No | No | 31.0105 | 23,201 | 719.47K | 138,303 |
9 Mar 21 | Chapman Joyce Ann | Common Stock | Sell | Dispose S | No | No | 30.6119 | 6,036 | 184.77K | 38,114 |
9 Mar 21 | Chapman Joyce Ann | Common Stock | Option exercise | Aquire M | No | No | 12.26 | 15,000 | 183.9K | 44,150 |
9 Mar 21 | Chapman Joyce Ann | Options - Right to Buy Common Stock | Option exercise | Dispose M | No | No | 12.26 | 15,000 | 183.9K | 0 |
27 Feb 21 | John M Matovina | Common Stock | Payment of exercise | Dispose F | No | No | 27.63 | 7,805 | 215.65K | 161,504 |
27 Feb 21 | John M Matovina | Common Stock | Grant | Aquire A | No | No | 0 | 31,006 | 0 | 169,309 |
27 Feb 21 | Renee Denise Montz | Common Stock | Payment of exercise | Dispose F | No | No | 27.63 | 6,716 | 185.56K | 49,492 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
93.3% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 244 |
Opened positions | 69 |
Closed positions | 35 |
Increased positions | 57 |
Reduced positions | 87 |
13F shares |
Current |
---|---|
Total value | 2.46B |
Total shares | 89.05M |
Total puts | 41.63K |
Total calls | 185.9K |
Total put/call ratio | 0.2 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 13.52M | $374.08M |
Vanguard | 10.32M | $285.55M |
BAM Brookfield Asset Management | 9.11M | $251.87M |
Dimensional Fund Advisors | 7.25M | $200.45M |
MCQEF Macquarie | 5.02M | $138.79M |
STT State Street | 3.19M | $88.36M |
Kohlberg Kravis Roberts & Co. | 2.75M | $76.1M |
Clearbridge Advisors | 2.74M | $75.66M |
River Road Asset Management | 2.29M | $63.27M |
NTRS Northern Trust | 2.2M | $60.96M |
Financial report summary
?Risks
- Our business, financial condition, results of operations and cash flows depend on the accuracy of management assumptions and estimates. Significant deviations between estimated and actual results could lead to significant gains or losses and significant volatility in our net income.
- Fluctuations in interest rates could adversely affect our business, financial condition, results of operations and cash flows.
- Our investments are subject to market, credit, liquidity and concentration risks, which could adversely affect our business, financial condition, results of operations, and cash flows.
- Defaults on mortgage loans and volatility in performance may adversely affect our business, financial condition, results of operations and cash flows.
- Volatility in the equity market and/or interest rates could increase the cost of options purchased to fund annual index credits and adversely impact our business, financial condition, results of operations and cash flows.
- We are subject to the credit risk of our counterparties, including companies with whom we have reinsurance agreements or have purchased call options.
- We utilize and rely on third parties to perform various services for the Company. Failure of these third parties to meet our service level objectives or abide by regulatory requirements could adversely affect our business, financial condition, results of operations and cash flows.
- We face competition from companies that have greater financial resources, broader arrays of products and higher ratings, which may limit our ability to retain existing customers, attract new customers and could adversely affect our financial condition, results of operations and cash flows.
- If we are unable to attract and retain independent marketing organizations, independent agents, broker/dealers, banks and registered investment advisors, sales of our products may be adversely affected.
- Our operations support complex transactions and are highly dependent on the proper functioning of information technology and communication systems. Any failure or security breach of our information technology or communications systems could adversely affect our reputation, business, financial condition, results of operations and cash flows.
- A downgrade in our credit or financial strength ratings may increase our cost of capital, reduce new sales, adversely affect relationships with distributors and increase policy surrenders and withdrawals.
- We may require additional capital to support our business and sustain future growth which may not be available when needed or may be available only on unfavorable terms.
- Conditions in the U.S. and global capital markets and economies could deteriorate in the near future and adversely affect our business, financial condition, results of operations and cash flows.
- Major public health issues, specifically the COVID-19 pandemic, and the resulting economic uncertainty, may adversely impact our business, financial condition and results of operations.
- Failure to authorize and pay dividends on our preferred stock could adversely impact our business and our ability to pay dividends on our common stock. Dividends on the Series A and B Preferred Stock are not cumulative and are not mandatory.
- We are a holding company with limited operations of our own. As a consequence, our ability to pay dividends on our common and preferred stock will depend on the ability of our subsidiaries to pay dividends and other permissible payments to us, which may be restricted by law.
- Our business model relies on executing reinsurance and investment management agreements with affiliated and non-affiliated entities, some or all of which may require regulatory approval. Failure to receive regulatory approval, failure to receive regulatory approval in a timely manner or being unable to successfully execute our business strategies could adversely affect our business, financial condition, results of operations and cash flows and the value of our common and preferred stock.
- We face risks relating to litigation and regulatory examination, including the costs of such litigation or examination, management distraction and the potential for damage awards, fines, penalties or other required remediation, which may adversely affect our business, financial condition, results of operations and cash flows.
- Changes in laws and regulations applicable to our business may adversely affect our business, financial condition, results of operations and cash flows.
- Changes in federal income taxation laws, including any reduction in individual income tax rates, may adversely affect our business, financial condition, results of operations and cash flows.
- Changes in corporate tax rates and laws may adversely affect our business, financial condition, results of operations and cash flows.
Management Discussion
- Annuity deposits before coinsurance ceded decreased 26% during 2020 compared to 2019. Annuity deposits after coinsurance ceded decreased 22% during 2020 compared to 2019. The decrease in sales in 2020 compared to 2019 was primarily due to the impact of the COVID-19 pandemic, including limitations on face to face meetings and increased social distancing requirements, as well as competitive pressures within each of our distribution channels. We continue to face a challenging environment for sales of fixed index annuities due to a highly competitive market.
- We coinsure 80% of the annuity deposits received from certain multi-year rate guaranteed annuities and 20% of certain fixed index annuities sold by Eagle Life through broker/dealers and banks. The decrease in coinsurance ceded premiums in 2020 was attributable to a decrease in certain multi-year rate guaranteed annuities and fixed index annuities sold by Eagle Life during 2020 compared to 2019.
- Net income available to common stockholders increased 173% to $671.5 million in 2020 and decreased 46% to $246.1 million in 2019 from $458.0 million in 2018. The increase in net income available to common stockholders for the year ended December 31, 2020 was primarily a result of the impact of assumption updates made during 2020 compared to the impact of assumption updates made during 2019.
Content analysis
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H.S. junior Avg
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New words:
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Removed:
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Financial reports
10-K
2020 FY
Annual report
1 Mar 21
10-Q
2020 Q3
Quarterly report
6 Nov 20
10-Q
2020 Q2
Quarterly report
10 Aug 20
10-Q
2020 Q1
Quarterly report
11 May 20
10-K
2019 FY
Annual report
25 Feb 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
8 Aug 19
10-Q
2019 Q1
Quarterly report
8 May 19
10-K
2018 FY
Annual report
22 Feb 19
10-Q
2018 Q3
Quarterly report
6 Nov 18
Current reports
8-K
Departure of Directors or Certain Officers
1 Apr 21
8-K
American Equity Reports Fourth Quarter and Full Year 2020 Results
17 Feb 21
8-K
Regulation FD Disclosure
9 Dec 20
8-K
American Equity Announces Closing of Initial 9.9% Equity Investment
30 Nov 20
8-K
Departure of Directors or Certain Officers
24 Nov 20
8-K
Changes in Registrant's Certifying Accountant
20 Nov 20
8-K
American Equity Reports Third Quarter 2020 Results
29 Oct 20
8-K
Accelerating AEL 2.0 Value Creation Strategic Partnership with Brookfield October 2020
26 Oct 20
8-K
American Equity Announces Strategic Partnership with Brookfield Asset Management
19 Oct 20
8-K
American Equity Confirms Receipt of Unsolicited Non-Binding Acquisition Proposal
1 Oct 20
Registration and prospectus
425
Business combination disclosure
1 Oct 20
8-A12B
Registration of securities on exchange
16 Jun 20
424B2
Prospectus for primary offering
12 Jun 20
FWP
Free writing prospectus
10 Jun 20
424B5
Prospectus supplement for primary offering
10 Jun 20
S-8
Registration of securities for employees
4 Jun 20
8-A12B
Registration of securities on exchange
20 Nov 19
424B2
Prospectus for primary offering
18 Nov 19
FWP
Free writing prospectus
14 Nov 19
424B5
Prospectus supplement for primary offering
12 Nov 19
Proxies
DEFA14A
Additional proxy soliciting materials
24 Apr 20
DEF 14A
Definitive proxy
24 Apr 20
DEFA14A
Additional proxy soliciting materials
22 Apr 19
DEF 14A
Definitive proxy
22 Apr 19
DEF 14A
Definitive proxy
22 Apr 18
DEFA14A
Additional proxy soliciting materials
22 Apr 18
DEF 14A
Definitive proxy
18 Apr 17
DEFA14A
Additional proxy soliciting materials
18 Apr 17
DEF 14A
Definitive proxy
17 Apr 16
DEFA14A
Additional proxy soliciting materials
17 Apr 16
Other
UPLOAD
Letter from SEC
25 Jan 16
CORRESP
Correspondence with SEC
20 Jan 16
CORRESP
Correspondence with SEC
6 Dec 15
CORRESP
Correspondence with SEC
19 Nov 15
UPLOAD
Letter from SEC
12 Nov 15
UPLOAD
Letter from SEC
25 Nov 13
CORRESP
Correspondence with SEC
7 Nov 13
UPLOAD
Letter from SEC
24 Oct 13
EFFECT
Notice of effectiveness
16 Oct 13
EFFECT
Notice of effectiveness
16 Oct 13
Ownership
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Gerard D. Neugent ownership change
25 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / JOHN M MATOVINA ownership change
22 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Joyce Ann Chapman ownership change
10 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Ronald James Grensteiner ownership change
1 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Anant Bhalla ownership change
1 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Scott A. Samuelson ownership change
1 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Jeffrey D Lorenzen ownership change
1 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Jennifer Lynn Bryant ownership change
1 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / James Louis Hamalainen ownership change
1 Mar 21
4
AMERICAN EQUITY INVESTMENT LIFE HOLDING / Tolga Ibrahim Uzuner ownership change
1 Mar 21
Transcripts
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q2
Earnings call transcript
8 Aug 20
2020 Q1
Earnings call transcript
10 May 20
2019 Q4
Earnings call transcript
13 Feb 20
2019 Q3
Earnings call transcript
9 Nov 19
2019 Q2
Earnings call transcript
10 Aug 19
2019 Q1
Earnings call transcript
4 May 19
2018 Q4
Earnings call transcript
7 Feb 19
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24 Feb 21
My own mini ETF stock picks (Daily Investing)
24 Feb 21
Early premarket gappers
18 Feb 21
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18 Feb 21
Daily Discussion Thread - February 17th, 2021
17 Feb 21
Daily Discussion Thread - February 16th, 2021
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Daily Discussion Thread - February 15th, 2021
15 Feb 21
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6 Feb 21
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23 Jan 21
Daily Discussion Thread - November 24th, 2020
24 Nov 20