American Equity Inv Stock (NYSE:AEL), Trade Ideas

American Equity Inv

American Equity Investment Life Holding Co is a financial services company. It is engaged in the development and sale of fixed index and fixed rate annuity products. Its core business is selling fixed-index and fixed-rate annuity products through its subsidiaries, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company. It has one business segment comprised of the sale of fixed index and fixed rate annuities.

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Large Cap

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Reiteration

Markets

Analyst Ratings

Movers

Trading Ideas

BMO Capital Market analyst Sohrab Movahedi raised its price target on Brookfield Asset Management Ltd (NYSE: BAM) to $34 from $33 

Why Brookfield Asset Management Shares Are Rising Today

Earnings

Dividends

Small Cap

BNRE

Brookfield Asset Management Ltd (NYSE: BAM) reported Q2 2023 revenues of $985 million which missed 

Brookfield Asset Management Q2 Earnings Misses Street View

Mid Cap

Downgrades

Truist Securities analyst Mark Hughes downgraded American Equity Investment Life Holding Co (NYSE: AEL) to Hold from Buy at an increased 

Analyst Predicts Completion Of American Equity&#39;s $4.3B Acquisition At Current Offer Price

American Equity Investment Life Holding Company Common Stock

American Equity Investment Life Holding Co

ANADOLU HAYAT EM UNSP/ADR by Anadolu Hayat Emeklilik AS

Anadolu Hayat Emeklilik AS

ADACEL TECHS LTD by Adacel Technologies Ltd.

Adacel Technologies Ltd

American Equity Investment Life Holding Company Depositary Shares, each representing a 1/1,000th interest in a share of 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A

American Equity Investment Life Holding Company Depositary Shares, each representing a 1/1,000th interest in a share of 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B

Management

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

American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>) 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.

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

American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>) reported quarterly earnings of $2.45 per share which beat the analyst consensus estimate of $1.72 by 42.44 percent. This is a 89.92 percent increase over earnings of $1.29 per share from the same period last year. The company reported quarterly sales of $586.61 million which missed the analyst consensus estimate of $595.40 million by 1.48 percent. This is a 3.79 percent decrease over sales of $609.74 million the same period last year.

Earnings Beats

Earnings Misses

American Equity Inv Q3 EPS $2.45 Beats $1.72 Estimate, Sales $586.61M Miss $595.40M Estimate

American Equity Investment Life Holding Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>) ("AEL") today announced that its third-quarter 2023 sales totaled $2.2 billion, substantially all of which were in fixed index annuities. AEL also announced that it will release its third quarter 2023 earnings results after the market closes on Tuesday, November 7, 2023. The press release and financial supplement will be posted on the American Equity IR website at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fir.american-equity.com%2F&amp;esheet=53617450&amp;newsitemid=20231016990290&amp;lan=en-US&amp;anchor=https%3A%2F%2Fir.american-equity.com%2F&amp;index=1&amp;md5=ce3f6b137262eb7ac43296bbc41fa1e1">https://ir.american-equity.com/</a> at that time.
In light of AEL's pending merger with Brookfield Reinsurance ((NYSE, TSX:<a href="https://www.benzinga.com/stock/BNRE#TSX">BNRE</a>), AEL will not be holding an earnings conference call with investors.
FIA SALES INCREASE 18% FROM PRIOR SEQUENTIAL QUARTER
Third quarter 2023 sales were $2.2 billion, of which 99% were in fixed index annuities. Total enterprise FIA sales increased 18% compared to the second quarter of 2023 and 203% compared to the third quarter of 2022.
Compared to the second quarter of 2023, FIA sales at American Equity Life in the Independent Marketing Organization (IMO) channel increased 17%, while Eagle Life FIA sales through banks and broker-dealers rose 23%.

American Equity Announces Record Total Enterprise Sales Of $2.2B In Q3 And Expected Date Of Q3 2023 Earnings Results As Tuesday, November 7, 2023

Robert Howe, Director at American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>), reported a large insider sell on September 21, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0001039828/000103982823000143//Archives/edgar/data/1039828/000103982823000143/0001039828-23-000143-index.htm">U.S. Securities and Exchange Commission</a> on Thursday showed that Howe sold 5,000 shares of American Equity Inv. The total transaction amounted to $270,789. 
American Equity Inv shares are trading up 0.19% at $53.98 at the time of this writing on Friday morning.
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<h3>Why Insider Transactions Are Important</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes To Focus On</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001039828">Check Out The Full List Of American Equity Inv's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

American Equity Inv Director Trades $270K In Company Stock

Louis James Hamalainen, EVP &amp; Chief Investment Officer at American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>), reported a large insider sell on September 21, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0001039828/000103982823000139//Archives/edgar/data/1039828/000103982823000139/0001039828-23-000139-index.htm">U.S. Securities and Exchange Commission</a> on Thursday showed that Hamalainen sold 81,969 shares of American Equity Inv. The total transaction amounted to $4,435,014. 
American Equity Inv shares are trading down 0.09% at $53.94 at the time of this writing on Thursday morning.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Transactions Are Important</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes To Focus On</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001039828">Check Out The Full List Of American Equity Inv's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

EVP & Chief Investment Officer of American Equity Inv Makes $4.44M Sale

BMO Capital Market&nbsp;analyst Sohrab Movahedi raised its price target on&nbsp;Brookfield Asset Management Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bam#NYSE">BAM</a>) to $34 from $33&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/BAM/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">with a Market Perform rating</a>.
The analyst is bullish on BAM&#39;s earnings growth prospects, given continued investor interest in its alternative asset strategies and the probable addition of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33115516/brookfield-reinsurance-acquires-american-equity-investment-for-4-3b" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">perpetual assets worth around $50 billion</a>&nbsp;from the&nbsp;American Equity Investment Life Holding&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ael#NYSE">AEL</a>) acquisition.&nbsp;
The analyst believes BAM is on track to achieve record inflows of $150 billion in 2023, led by private fundraising of $100 billion and insurance capital inflows of $50 billion.&nbsp;
Movahedi expects BAM&#39;s diversified asset classes to deliver continued fee-bearing capital growth in 2024/2025 as it raises the next round of flagship funds.
The analyst revised the distributable EPS estimates to $1.32 (from $1.40) for FY23 and $1.49 (from $1.56) for FY24.&nbsp;
Yesterday, the company reported Q2 2023 revenues of $985 million which missed the consensus of $1.10 billion, and EPS of $0.28&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/08/33665874/brookfield-asset-management-q2-earnings-misses-street-view" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">missed the consensus of $0.32</a>.&nbsp;&nbsp;
Price Action: BAM shares are up 4.24% at $34.92 on the last check Thursday.

Brookfield Asset Management Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bam#NYSE">BAM</a>) reported Q2 2023 revenues of $985 million which missed&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/08/g33658573/brookfield-asset-management-announces-strong-second-quarter-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">the consensus of $1.10 billion</a>.&nbsp;
EPS of $0.28 missed&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">the consensus of $0.32</a>.&nbsp;
Distributable earnings rose to $527 million from $511 million, with Fee-Related earnings increasing 6% Y/Y to $548 million on solid fundraising and capital deployment activities.
As of June 30, 2023, the company had $83 billion of uncalled fund commitments and $2.9 billion of cash and cash equivalents.&nbsp;
The company raised $17 billion in the second quarter and committed to a $50 billion new investment year-to-date.&nbsp;
&quot;We also continue to see very strong momentum on the fundraising side. We&#39;ve made terrific progress so far this year, having raised $37 billion of capital to date and expect this to accelerate in the second half of the year as we progress our efforts on recently launched funds. With these fundraising efforts, combined with approximately $50 billion of additional insurance inflows, we expect to raise close to $150 billion of capital this year which should drive meaningful earnings growth in 2024 and beyond,&quot; said Connor Teskey, President.
In July,&nbsp;Brookfield Reinsurance Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bnre#NYSE">BNRE</a>) penned a deal to acquire all of the outstanding shares of common stock of&nbsp;American Equity Investment Life Holding&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ael#NYSE">AEL</a>) in cash and stock for ~$4.3 billion. AEL shareholders will receive $55.00 per AEL share, consisting of $38.85 in cash and 0.49707 of BAM,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33115516/brookfield-reinsurance-acquires-american-equity-investment-for-4-3b" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">having a value equal to $16.15</a>.
Post deal closure, BAM will manage $50 billion of additional insurance fee-bearing capital, which is expected to earn about $125 million of annual base fee revenue.
Dividend: BAM declared a Q2 2023 dividend per share of $0.32, payable on September 29, 2023, to shareholders of record as on August 31, 2023.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32753681/brookfield-sells-its-49-95-one-new-zealand-stake-to-infratil-for-1-1b" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Brookfield Sells Its 49.95% One New Zealand Stake To Infratil For $1.1B</a>
Price Action: BAM shares are trading higher by 1.88% at $33.61 on the last check Wednesday.

RBC Capital analyst Mark Dwelle maintains American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>) with a Sector Perform and maintains $55 price target.

RBC Capital Maintains Sector Perform on American Equity Inv, Maintains $55 Price Target

American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>) reported quarterly earnings of $1.62 per share which missed the analyst consensus estimate of $1.65 by 1.82 percent. This is a 65.31 percent increase over earnings of $0.98 per share from the same period last year. The company reported quarterly sales of $542.68 million which missed the analyst consensus estimate of $555.03 million by 2.22 percent. This is a 8.38 percent decrease over sales of $592.31 million the same period last year.

American Equity Inv Q2 EPS $1.62 Misses $1.65 Estimate, Sales $542.68M Miss $555.03M Estimate

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Hims & Hers Health, Inc. Class A Common Stock

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Earnings Scheduled For August 7, 2023

Truist Securities&nbsp;analyst Mark Hughes downgraded&nbsp;American Equity Investment Life Holding Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ael#NYSE">AEL</a>) to Hold from Buy at an increased&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/AEL/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">price target of $55 (from $49)</a>.
The analyst expects AEL&#39;s acquisition by&nbsp;Brookfield Reinsurance Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bnre#NYSE">BNRE</a>) to be completed at the current offer price and assumes the unlikely emergence of another buyer.&nbsp;
Earlier this month, ARE accepted BNRE&#39;s previously&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33115516/brookfield-reinsurance-acquires-american-equity-investment-for-4-3b" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">disclosed acquisition offer priced at ~$4.3 billion</a>.
As per the terms, AEL shareholders will receive $55.00 per AEL share, consisting of $38.85 in cash and 0.49707 of&nbsp;Brookfield Asset Management Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bam#NYSE">BAM</a>), having a value equal to $16.15.
The proposal represents a premium of 35% to the closing price as of June 23, 2023, and a 42% premium to the 90-day volume-weighted average price for the AEL shares.
Hughes estimates EPS of $6.30 (vs. consensus of $6.14) in 2023 and $6.70 (vs. consensus of $6.59) in 2024.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/07/33194970/american-equity-investment-reports-2b-q2-sales-aided-by-fixed-index-annuities" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">American Equity Investment Reports $2B Q2 Sales Aided By Fixed Index Annuities</a>
Price Action: AEL shares are trading higher at 0.07% at $53.38 on the last check Friday.

Analyst Predicts Completion Of American Equity's $4.3B Acquisition At Current Offer Price

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Benzinga's Top Ratings Upgrades, Downgrades For July 14, 2023

Analysts have provided the following ratings for American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>) within the last quarter: 
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
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<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
According to 6 analyst offering 12-month price targets in the last 3 months, American Equity Inv has an average price target of $50.0 with a high of $55.00 and a low of $44.00. 
Below is a summary of how these 6 analysts rated American Equity Inv over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock
<img src="https://www.benzinga.com/files/images/story/2023/1689336040_0.png" alt="price target chart" />
This average price target has increased by 9.29% over the past month.
<a href="https://www.benzinga.com/quote/AEL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on American Equity Inv analyst ratings.</a>
<h1>Analyst Ratings: What Are They?</h1>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings for American Equity Inv

Truist Securities analyst Mark Hughes downgrades American Equity Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEL#NYSE">AEL</a>) from Buy to Hold and raises the price target from $49 to $55.

Truist Securities Downgrades American Equity Inv to Hold, Raises Price Target to $55

American Equity Investment Life Holding Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ael#NYSE">AEL</a>) reported Q2 2023 sales worth $2 billion,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/07/b33190935/american-equity-announces-second-quarter-2023-total-sales1-of-2-billion-and-expected-date-of-secon" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">led by fixed index annuities business</a>.
The fixed index annuities sales totaled $1.9 billion in Q2, increasing 94% Q/Q and 141% Y/Y.
FIA sales at American Equity Life in the Independent Marketing Organization channel rose 99% Q/Q, and Eagle Life FIA sales through banks and broker-dealers were up 77% Q/Q.
The company is expected to release Q2 2023&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">results on August 7, 2023</a>.
&quot;This significant increase in sales reflects the value proposition offered by our industry-leading FIA solutions, enhanced by our private asset strategies driving strong new money yields. Each aspect of the AEL flywheel is working seamlessly &ndash; a testament to our team&#39;s execution of the AEL 2.0 strategy &ndash; creating momentum in annuity origination and ensuring lifelong financial dignity for our policyholders,&quot; said Anant Bhalla, President, and CEO.
Last week, AEL disclosed the acquisition by&nbsp;Brookfield Reinsurance Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bnre#NYSE">BNRE</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33115516/brookfield-reinsurance-acquires-american-equity-investment-for-4-3b" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">for ~$4.3 billion.</a>
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33136819/american-equity-shareholders-gain-analyst-explores-brookfield-reinsurance-acquisiti" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">American Equity Shareholders Gain: Analyst Explores Brookfield Reinsurance Acquisition</a>
Price Action: AEL shares closed higher by 0.38% at $53.11 after-hours on Tuesday.

American Equity Investment Reports $2B Q2 Sales Aided By Fixed Index Annuities

American Equity Investment Life Holding Company Announces Q2 Sales Totaling $2B

RBC Capital Markets&nbsp;analyst Scott Heleniak downgraded&nbsp;American Equity Investment Life Holding Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ael#NYSE">AEL</a>) to Sector Perform from Outperform at an increased&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/AEL/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">price target of $55 from $50</a>.
The analyst sees AEL&#39;s acquisition by&nbsp;Brookfield Reinsurance Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bnre#NYSE">BNRE</a>) as fairly priced and justifiable to AEL shareholders.
Yesterday, ARE accepted BNRE&#39;s previously&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33115516/brookfield-reinsurance-acquires-american-equity-investment-for-4-3b" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">disclosed acquisition offer priced at ~$4.3 billion</a>.
As per the terms, AEL shareholders will receive $55.00 per AEL share, consisting of $38.85 in cash and 0.49707 of&nbsp;Brookfield Asset Management Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bam#NYSE">BAM</a>), having a value equal to $16.15.
The proposal represents a premium of 35% to the closing price as of June 23, 2023, and a 42% premium to the 90-day volume-weighted average price for the AEL shares.
The analyst doesn&#39;t expect a higher bidder to emerge and sees no regulatory hurdles for the deal.
Heleniak raised the 2023 EPS estimate to $6.30 from $5.70 to align with their commentary on investment yields and is unrelated to the merger deal. The analyst estimates the <a href="https://www.benzinga.com/calendars/guidance">2024 EPS of $5.75.</a>
Price Action: AEL shares are trading higher by 0.04% at $52.79 on the last check Thursday.

American Equity Shareholders Gain: Analyst Explores Brookfield Reinsurance Acquisition

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