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Investing

Brookfield Asset Management Reinsurance Trims American Equity Investment Life Stake, Resigns Board Seat

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By 247patrick Updated Published
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Brookfield Asset Management Reinsurance Trims American Equity Investment Life Stake, Resigns Board Seat

© Veronika Ryabova / iStock via Getty Images

Brookfield Asset Management Reinsurance Partners Ltd. has filed a 13D/A form with the SEC disclosing ownership of 15,886,163 shares of American Equity Investment Life Holding (AEL). This represents 18.13% of the company.

In the last filing, dated June 21, 2022, they reported owning 17.07% of the company, indicating a slight increase in ownership.

Brookfield said in its filing that effective November 8, 2022, Sachin Shah, its BAM nominated director, resigned. Brookfield added that it does not currently plan to nominate another candidate to the Board.

What are other large shareholders doing?

BlackRock Inc. holds 12,568,568 shares representing 14.36% ownership of the company. In its prior filing, the firm reported owning 13,317,782 shares, representing a decrease of 5.96%. The firm increased its portfolio allocation in AEL by 2.97% over the last quarter.

Vanguard Group Inc holds 8,961,215 shares representing 10.24% ownership of the company. In its prior filing, the firm reported owning 9,178,980 shares, representing a decrease of 2.43%. The firm increased its portfolio allocation in AEL by 6.31% over the last quarter.

Dimensional Fund Advisors Lp holds 7,038,600 shares representing 8.04% ownership of the company. In its prior filing, the firm reported owning 6,903,390 shares, representing an increase of 1.92%. The firm increased its portfolio allocation in AEL by 8.79% over the last quarter.

IJR – iShares Core S&P Small-Cap ETF holds 5,391,384 shares representing 6.16% ownership of the company. In its prior filing, the firm reported owning 5,903,232 shares, representing a decrease of 9.49%. The firm increased its portfolio allocation in AEL by 0.68% over the last quarter.

What is the overall institutional sentiment?

There are 613 funds or institutions reporting positions in American Equity Investment Life Holding. This is an increase of 11 owner(s) or 1.83%.

Average portfolio weight of all funds dedicated to American Equity Investment Life Holding is 0.2627%, a decrease of 1.1279%. Total shares owned by institutions decreased in the last three months by 4.95% to 104,060,112 shares.

This article originally appeared on Fintel

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