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

·2 min read

Investment management company First Pacific Advisors recently released its “Queens Road Small Cap Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund outperformed its benchmark index and returned -11.46% compared to a -15.28% 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 second quarter investor letter, First Pacific Advisors 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 company. On August 26, 2022, American Equity Investment Life Holding Company (NYSE:AEL) stock closed at $37.61 per share. One-month return of American Equity Investment Life Holding Company (NYSE:AEL) was 0.35%, and its shares gained 18.23% of their value over the last 52 weeks. American Equity Investment Life Holding Company (NYSE:AEL) has a market capitalization of $3.296 billion.

Here is what First Pacific Advisors specifically said about American Equity Investment Life Holding Company (NYSE:AEL):

"American Equity Investment Life Holding Company (NYSE:AEL), a leading writer of fixed index annuities, has continued to transition to its American Equity Investment (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%."

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

We discussed American Equity Investment Life Holding Company (NYSE:AEL) in another article and shared First Pacific Advisors' views on the company in the previous quarter. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

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