American Equity Inv Q4 EPS $1.99 Beats $1.75 Estimate, Sales $582.18M Beat $573.17M Estimate

2/14/24 4:56:10 PM ET

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American Equity Inv (NYSE:AEL) reported quarterly earnings of $1.99 per share which beat the analyst consensus estimate of $1.75 by 13.71 percent. This is a 151.9 percent increase over earnings of $0.79 per share from the same period last year. The company reported quarterly sales of $582.18 million which beat the analyst consensus estimate of $573.17 million by 1.57 percent. This is a 8.21 percent increase over sales of $538.00 million the same period last year.

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Recent Analyst Ratings for
$AEL

Date	Price Target	Rating	Analyst
7/14/2023	$55.00	Buy → Hold	Truist
6/28/2023		Strong Buy → Mkt Perform	Raymond James
2/21/2023	$45.00 → $48.00	Overweight → Neutral	Piper Sandler
12/19/2022	$48.00	Outperform → Strong Buy	Raymond James
8/15/2022	$42.00 → $44.00	Outperform → In-line	Evercore ISI
7/22/2022	$43.00 → $38.00	Outperform → Neutral	Credit Suisse
7/13/2022	$43.00 → $41.00	Outperform → Mkt Perform	Keefe Bruyette
6/28/2022	$43.00	Outperform	Credit Suisse

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Financials

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American Equity Reports Record $7+ Billion Annual FIA Sales and Strong Financial Results to Cap a Historic 2023
Company Highlights Fourth quarter 2023 net loss available to common stockholders of $(475.9) million, or $(6.04) per diluted common share compared to net income of $21.7 million, or $0.25 per diluted common share for fourth quarter 2022 restated for the adoption of Accounting Standards Update 2018-12 — more commonly known as Long Duration Targeted Improvements (LDTI) Full year 2023 net income available to common stockholders of $166.9 million, or $2.06 per diluted common share compared to net income of $1.9 billion, or $20.50 per diluted common for full year 2022 restated for the adoption of LDTI Non-GAAP operating income available to common stockholders1 for the fourth quarter a
2/14/24 4:15:00 PM ET
$AEL
Life Insurance
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American Equity Declares 1st Quarter 2024 Preferred Stock Dividend
American Equity Investment Life Holding Company (NYSE:AEL), today announced that in accordance with the terms of its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (the "Series A Preferred Stock"), which is represented by depositary shares, each representing a 1/1,000th interest in a share of Series A Preferred Stock (the "Series A Depositary Shares"), the Board of Directors has declared a cash dividend of $371.8750000 per share of Series A Preferred Stock (equivalent to $0.371875000 per Series A Depositary Share). The dividend will be payable on March 1, 2024 to Series A Preferred Stock shareholders of record as of February 15, 2024. Depositary receipts for the Series A Pr
2/1/24 4:15:00 PM ET
$AEL
Life Insurance
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American Equity Reports Record Non-GAAP Operating ROE1 and FIA Sales as the AEL 2.0 Strategy Delivers with 25% Allocation to Private Assets and Nearly 20% "Fee-Earning" Reinsured Balances
Company Highlights Third quarter 2023 net income available to common stockholders of $465.2 million, or $5.82 per diluted common share compared to net income of $434.0 million, or $4.90 per diluted common share for third quarter 2022 restated for the adoption of Accounting Standards Update 2018-12 — more commonly known as Long Duration Targeted Improvements or LDTI Non-GAAP operating income available to common stockholders1 for the third quarter 2023 was $195.5 million, or $2.45 per diluted common share; Notable items2 positively impacted results in the quarter by $21.0 million, or $0.26 per share, after-tax On a trailing twelve-month basis, GAAP return on equity of 47.3% and non
11/7/23 4:15:00 PM ET
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$AEL
Leadership Updates

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IAC Set to Join S&P SmallCap 600
NEW YORK, May 1, 2024 /PRNewswire/ -- IAC Inc. (NASD: IAC) will replace American Equity Investment Life Holding Company (NYSE:AEL) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, May 6. Brookfield Reinsurance (TSX:BNRE) is acquiring American Equity Investment Life Holding Company in a deal expected to be completed prior to the open on May 3. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector May 6, 2024 S&P SmallCap 600 Addition IAC IAC Communication Services S&P SmallCap 600 Deletion American Equity Investment Life Holdings AEL Fin
5/1/24 6:45:00 PM ET
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American Equity Continues Board Refresh with Appointment of Mike Hayes to Its Board of Directors
American Equity Investment Life Holding Company ("American Equity") (NYSE:AEL), a leading provider of financial dignity solutions through general account annuities, today announced the appointment of Mike Hayes to its Board as an independent director. Following the appointment of Mr. Hayes, the Board will be comprised of 10 directors, eight of whom are independent. "I am pleased to welcome Mike Hayes to the American Equity Board. Mike brings significant operating experience in both the financial services and technology industries, as well as a strong track record of designing and overseeing operations to drive best-in-class customer value propositions and strategic execution," said David
4/4/23 7:12:00 PM ET
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Brookfield Reinsurance Announces Third Quarter Results, Regular Distribution and Appointment of Directors
BROOKFIELD, NEWS, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Brookfield Asset Management Reinsurance Partners Ltd. ("Brookfield Reinsurance") ((NYSE, TSX:BAMR) today announced financial results for the quarter ended September 30, 2021. Sachin Shah, CEO of Brookfield Reinsurance, stated, "We continue to make significant progress in advancing our priorities with a focus on executing our previously announced transactions. Since we last reported, we have closed on a number of reinsurance and pension risk transfer opportunities, increasing our assets under management to $8 billion. Through our strategic partnership with Brookfield, we have successfully redeployed a significant portion of th
11/11/21 6:55:00 AM ET
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AM Best Places Credit Ratings of North End Re (Cayman) SPC Under Review With Developing Implications
AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of North End Re (Cayman) SPC (Cayman Islands) (NERC). Following the recent closure of Brookfield Reinsurance Ltd.'s (NYSE:BNRE, BNRE.A])) acquisition of American Equity Investment Life Holding Company (AEL) (NYSE:AEL), the strategy for subsidiary NERC is under review by AM Best. In 2021, prior to the acquisition, NERC entered into a reinsurance agreement with AEL affiliate American Equity Investment Life Insurance Company, whereby NERC agreed to assume up to $10 billion of fixed deferred annuities. NERC has managed the assu
5/9/24 10:33:00 AM ET
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IAC Set to Join S&P SmallCap 600
NEW YORK, May 1, 2024 /PRNewswire/ -- IAC Inc. (NASD: IAC) will replace American Equity Investment Life Holding Company (NYSE:AEL) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, May 6. Brookfield Reinsurance (TSX:BNRE) is acquiring American Equity Investment Life Holding Company in a deal expected to be completed prior to the open on May 3. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector May 6, 2024 S&P SmallCap 600 Addition IAC IAC Communication Services S&P SmallCap 600 Deletion American Equity Investment Life Holdings AEL Fin
5/1/24 6:45:00 PM ET
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$SPGI
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Computer Software: Programming Data Processing
Brookfield Reinsurance and AEL Announce Expected Closing Date for Brookfield Reinsurance's Acquisition of AEL
Brookfield Reinsurance ((NYSE, TSX:BNRE) and American Equity Investment Life Holding Company (NYSE:AEL) ("AEL") today announced that the previously announced acquisition of AEL by Brookfield Reinsurance is expected to close following the close of market on May 2, 2024. About AEL At American Equity Investment Life Holding Company, our policyholders work with over 40,000 independent agents and advisors affiliated with independent market organizations (IMOs), banks and broker-dealers through our wholly-owned operating subsidiaries. Advisors and agents choose one of our leading annuity products best suited for their clients' personal needs to create financial dignity in retirement. To deliv
4/30/24 5:31:00 PM ET
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American Equity Inv Q4 EPS $1.99 Beats $1.75 Estimate, Sales $582.18M Beat $573.17M Estimate

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Recent Analyst Ratings for $AEL

$AEL SEC Filings

SEC Form 15-12G filed by American Equity Investment Life Holding Company

SEC Form 10-Q filed by American Equity Investment Life Holding Company

$AEL Insider Purchases

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$AEL Analyst Ratings

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Lummus Dewayne bought $84 worth of shares (2 units at $42.20), increasing direct ownership by 0.01% to 15,141 units (SEC Form 4)

Lummus Dewayne bought $42,342 worth of shares (1,062 units at $39.87), increasing direct ownership by 8% to 15,139 units (SEC Form 4)

American Equity Investment Life downgraded by Truist with a new price target

American Equity Investment Life downgraded by Raymond James

American Equity Investment Life downgraded by Piper Sandler with a new price target

$AEL Financials

Live finance-specific insights

American Equity Reports Record $7+ Billion Annual FIA Sales and Strong Financial Results to Cap a Historic 2023

American Equity Declares 1st Quarter 2024 Preferred Stock Dividend

American Equity Reports Record Non-GAAP Operating ROE1 and FIA Sales as the AEL 2.0 Strategy Delivers with 25% Allocation to Private Assets and Nearly 20% "Fee-Earning" Reinsured Balances

$AEL Large Ownership Changes

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SEC Form SC 13G filed by American Equity Investment Life Holding Company

SEC Form SC 13G/A filed by American Equity Investment Life Holding Company (Amendment)

SEC Form SC 13G/A filed by American Equity Investment Life Holding Company (Amendment)

$AEL Leadership Updates

Live Leadership Updates

IAC Set to Join S&P SmallCap 600

American Equity Continues Board Refresh with Appointment of Mike Hayes to Its Board of Directors

Brookfield Reinsurance Announces Third Quarter Results, Regular Distribution and Appointment of Directors

$AEL Market Insights

Live Market Insights

IAC To Replace American Equity Investment Life Holding In S&P SmallCap 600, Effective May 6

American Equity Investment Life Holding Co Says Axel André, Executive Vice President And CFO Notified Co Of His Intention To Resign From Co