Comerica Bank Acquires 1,395 Shares of Athene Holding Ltd (ATH)

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Comerica Bank increased its holdings in shares of Athene Holding Ltd (NYSE:ATH) by 29.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,062 shares of the insurance provider’s stock after purchasing an additional 1,395 shares during the period. Comerica Bank’s holdings in Athene were worth $270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Athene by 2.5% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,258 shares of the insurance provider’s stock valued at $2,598,000 after purchasing an additional 1,443 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Athene by 17.4% during the first quarter. PNC Financial Services Group Inc. now owns 10,236 shares of the insurance provider’s stock valued at $489,000 after purchasing an additional 1,517 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its stake in shares of Athene by 24.7% during the first quarter. Quantitative Systematic Strategies LLC now owns 10,547 shares of the insurance provider’s stock valued at $504,000 after purchasing an additional 2,090 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Athene by 71.6% in the first quarter. Daiwa Securities Group Inc. now owns 5,149 shares of the insurance provider’s stock valued at $246,000 after acquiring an additional 2,149 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Athene by 57.0% in the fourth quarter. Guggenheim Capital LLC now owns 6,694 shares of the insurance provider’s stock valued at $346,000 after acquiring an additional 2,430 shares in the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Athene from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. ValuEngine downgraded shares of Athene from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Barclays lowered their target price on shares of Athene from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, July 9th. Wells Fargo & Co restated a “buy” rating on shares of Athene in a research note on Tuesday, June 12th. Finally, Citigroup restated a “hold” rating on shares of Athene in a research note on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Athene currently has an average rating of “Buy” and an average target price of $60.42.

In other Athene news, insider Grant Kvalheim sold 122,418 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $50.28, for a total value of $6,155,177.04. Following the completion of the transaction, the insider now owns 1,631,434 shares of the company’s stock, valued at $82,028,501.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Hope S. Taitz sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $49.90, for a total transaction of $499,000.00. Following the completion of the transaction, the director now directly owns 61,269 shares of the company’s stock, valued at approximately $3,057,323.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,884 shares of company stock valued at $14,230,489. Corporate insiders own 8.46% of the company’s stock.

NYSE ATH opened at $50.04 on Thursday. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 0.57 and a beta of 0.22. Athene Holding Ltd has a 12-month low of $43.09 and a 12-month high of $55.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.13 and a quick ratio of 0.13.

Athene (NYSE:ATH) last posted its quarterly earnings results on Thursday, August 2nd. The insurance provider reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.21. The business had revenue of $958.00 million during the quarter, compared to analysts’ expectations of $949.85 million. Athene had a net margin of 15.58% and a return on equity of 12.54%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted $1.43 earnings per share. equities analysts anticipate that Athene Holding Ltd will post 5.86 earnings per share for the current year.

Athene Company Profile

Athene Holding Ltd., a retirement services company, issues, reinsures, and acquires retirement savings products in the United States, the District of Columbia, and Germany. It offers fixed deferred, immediate, and payout annuities; and funding agreements and pension risk transfer products to institutional investors.

Further Reading: Leveraged Buyout (LBO)

Institutional Ownership by Quarter for Athene (NYSE:ATH)

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