AEL - American Equity downgraded to market perform from outperform at Keefe Bruyette

• Keefe Bruyette analyst Ryan Krueger downgraded American Equity ( AEL ) to Market Perform from Outperform with a price target of $41, down from $43.
• Along with pressures from higher long-term interest rates, many life insurers are also exposed to equity markets through asset under management based fees or private equity investments, Krueger tells investors.
• He's "not enthused about the space" given near-term equity headwinds and emerging credit concerns "that don't appear to be impacting life valuations much yet."
• American Equity's SA Quant Rating stands with a Hold whereas, Wall St. Analysts Rating says Buy (2 Very Bullish, 5 Bullish).
• Since the start of 2022, American Equity's shares were down around 15% , and over a period of one year, shares were up around 9.8% .
• Shares are currently -5.82% to $33.96 today.

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