ValuEngine Lowers Athene (ATH) to Hold

ValuEngine cut shares of Athene (NYSE:ATH) from a buy rating to a hold rating in a research note released on Friday.

A number of other equities research analysts have also issued reports on ATH. Morgan Stanley decreased their price target on Athene from $65.00 to $64.00 and set an overweight rating for the company in a research note on Thursday, April 5th. UBS upgraded Athene from a neutral rating to a buy rating and set a $65.00 price objective on the stock in a report on Friday, March 2nd. Zacks Investment Research downgraded Athene from a buy rating to a hold rating in a report on Friday, March 9th. Evercore ISI restated a buy rating and set a $68.00 price objective on shares of Athene in a report on Thursday, December 21st. Finally, Wells Fargo set a $63.00 price objective on Athene and gave the stock a buy rating in a report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $62.38.

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Shares of ATH stock opened at $47.54 on Friday. Athene has a 52-week low of $45.15 and a 52-week high of $55.22. The company has a market cap of $9,505.15, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 0.60 and a beta of 0.23.

Athene (NYSE:ATH) last issued its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.46. Athene had a return on equity of 12.97% and a net margin of 16.47%. The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $884.38 million. During the same period last year, the company earned $1.80 EPS. analysts anticipate that Athene will post 5.28 earnings per share for the current fiscal year.

In other news, Director Manfred Puffer sold 40,000 shares of Athene stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $50.44, for a total value of $2,017,600.00. Following the transaction, the director now directly owns 15,728 shares in the company, valued at approximately $793,320.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Grant Kvalheim sold 85,000 shares of Athene stock in a transaction on Friday, March 16th. The shares were sold at an average price of $50.05, for a total value of $4,254,250.00. Following the completion of the transaction, the insider now owns 1,554,013 shares in the company, valued at $77,778,350.65. The disclosure for this sale can be found here. Insiders have sold a total of 135,000 shares of company stock worth $6,801,050 over the last 90 days. 10.60% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in ATH. CI Global Investments Inc. increased its holdings in shares of Athene by 26.6% in the 4th quarter. CI Global Investments Inc. now owns 8,907,931 shares of the insurance provider’s stock valued at $460,629,000 after acquiring an additional 1,871,621 shares during the period. Schroder Investment Management Group increased its holdings in shares of Athene by 231.4% in the 4th quarter. Schroder Investment Management Group now owns 2,392,463 shares of the insurance provider’s stock valued at $123,714,000 after acquiring an additional 1,670,445 shares during the period. APG Asset Management N.V. increased its holdings in shares of Athene by 309.5% in the 4th quarter. APG Asset Management N.V. now owns 1,891,500 shares of the insurance provider’s stock valued at $81,454,000 after acquiring an additional 1,429,600 shares during the period. CDAM UK Ltd purchased a new position in shares of Athene in the 4th quarter valued at $36,504,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Athene by 194.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 863,660 shares of the insurance provider’s stock valued at $44,660,000 after acquiring an additional 570,109 shares during the period. Institutional investors and hedge funds own 50.51% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Athene (NYSE:ATH)

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