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Should You Invest in American Equity Investment Life Holding Company (AEL)?

Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund returned -5.72% compared to a -4.61 % return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, FPA discussed stocks like American Equity Investment Life Holding Company (NYSE:AEL). Headquartered in West Des Moines, Iowa, American Equity Investment Life Holding Company (NYSE:AEL) is a US-based life insurance products provider. On October 28, 2022, American Equity Investment Life Holding Company (NYSE:AEL) stock closed at $42.72 per share. One-month return of American Equity Investment Life Holding Company (NYSE:AEL) was 12.75% and its shares gained 27.33% of their value over the last 52 weeks. American Equity Investment Life Holding Company (NYSE:AEL) has a market capitalization of $3.744 billion.

FPA made the following comment about American Equity Investment Life Holding Company (NYSE:AEL) in its Q3 2022 investor letter:

American Equity Investment Life Holding Company (NYSE:AEL), a leading writer of fixed index annuities, has continued to transition to its AEL 2.0 business model. The plan’s main goals are to diversify the company’s assets into a broader array of investments, including private debt through strategic partnerships, and to increase its use of reinsurance to free up capital. We think this is an interesting, but somewhat aggressive plan. Thus far, the results have been impressive, but we continue to monitor the credit quality of their assets as they move toward achieving their target of having 40% of their portfolio invested in private assets, up from 15.4%.”

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American Equity Investment Life Holding Company (NYSE:AEL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held American Equity Investment Life Holding Company (NYSE:AEL) at the end of the second quarter, which was 17 in the previous quarter.

We discussed American Equity Investment Life Holding Company (NYSE:AEL) in another article and shared the list of health insurance stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.