Athene (ATH) PT Lowered to $62.00

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Athene (NYSE:ATH) had its price objective cut by Morgan Stanley from $64.00 to $62.00 in a report published on Tuesday morning. They currently have an overweight rating on the insurance provider’s stock.

Several other analysts also recently weighed in on ATH. Bank of America reiterated a buy rating and set a $67.00 price target on shares of Athene in a research note on Wednesday, October 3rd. SunTrust Banks reiterated a buy rating and set a $59.00 price target on shares of Athene in a research note on Monday, November 5th. Keefe, Bruyette & Woods reiterated an outperform rating and set a $68.00 price target on shares of Athene in a research note on Friday, September 21st. Royal Bank of Canada reiterated a buy rating and set a $58.00 price target on shares of Athene in a research note on Friday, August 3rd. Finally, Wells Fargo & Co reiterated a buy rating and set a $65.00 price target on shares of Athene in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $61.00.

Athene stock opened at $47.12 on Tuesday. The company has a current ratio of 264.96, a quick ratio of 264.96 and a debt-to-equity ratio of 0.11. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.57 and a beta of 0.81. Athene has a fifty-two week low of $43.09 and a fifty-two week high of $53.92.

Athene (NYSE:ATH) last posted its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.21. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.15 billion. Athene had a return on equity of 18.93% and a net margin of 17.65%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 EPS. On average, research analysts forecast that Athene will post 6.24 earnings per share for the current year.

In other news, insider Frank Lauren Gillis sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $50.04, for a total value of $50,040.00. Following the sale, the insider now owns 218,638 shares in the company, valued at $10,940,645.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Grant Kvalheim sold 81,982 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $50.02, for a total value of $4,100,739.64. Following the completion of the sale, the insider now owns 1,631,434 shares in the company, valued at approximately $81,604,328.68. The disclosure for this sale can be found here. Insiders sold 416,831 shares of company stock worth $21,139,589 in the last 90 days. Company insiders own 8.46% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Andra AP fonden boosted its stake in shares of Athene by 21.2% in the second quarter. Andra AP fonden now owns 224,800 shares of the insurance provider’s stock worth $9,855,000 after buying an additional 39,300 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Athene by 27.8% during the third quarter. State of Alaska Department of Revenue now owns 16,543 shares of the insurance provider’s stock worth $854,000 after purchasing an additional 3,603 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Athene by 3.6% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 37,200 shares of the insurance provider’s stock worth $1,631,000 after purchasing an additional 1,300 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Athene by 50.0% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 12,950 shares of the insurance provider’s stock worth $568,000 after purchasing an additional 4,318 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Athene by 511.6% during the second quarter. Dimensional Fund Advisors LP now owns 982,333 shares of the insurance provider’s stock worth $43,063,000 after purchasing an additional 821,717 shares in the last quarter. Hedge funds and other institutional investors own 67.72% of the company’s stock.

About Athene

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.

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Analyst Recommendations for Athene (NYSE:ATH)

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