UPDATE: JPMorgan Assumes American Equity Investment Life Holding (AEL) at Neutral

(Updated - March 3, 2021 5:05 AM EST)

JPMorgan analyst Pablo Singzon assumes coverage on American Equity Investment Life Holding (NYSE: AEL) with a Neutral rating and a price target of $33.00.

The analyst comments "We are encouraged by AEL’s commitment to deploy capital, reduce its capital intensity, and supplement spread margins with fee income. However, at its core AEL 2.0 is premised on AEL shifting investments into higher yielding assets that are less liquid and potentially more risky, with some offset via lower asset leverage. We expect this approach to produce higher earnings and ROEs, but would have to see stability in AEL’s capital generation and deployment to become more constructive."

For an analyst ratings summary and ratings history on American Equity Investment Life Holding click here. For more ratings news on American Equity Investment Life Holding click here.

Shares of American Equity Investment Life Holding closed at $27.96 yesterday.

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