Athene (NYSE:ATH) issued its quarterly earnings data on Wednesday. The insurance provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.21, Briefing.com reports. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.15 billion. Athene had a net margin of 15.58% and a return on equity of 12.54%. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share.
ATH stock traded up $0.40 during midday trading on Thursday, hitting $46.12. 2,761,700 shares of the company traded hands, compared to its average volume of 1,298,990. Athene has a twelve month low of $43.09 and a twelve month high of $53.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.12. The company has a market cap of $9.02 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.57 and a beta of 0.34.
Several equities analysts recently weighed in on the stock. Wells Fargo & Co set a $67.00 price objective on shares of Athene and gave the company a “buy” rating in a research report on Wednesday. Bank of America reaffirmed a “buy” rating and set a $67.00 price objective on shares of Athene in a research report on Wednesday, October 3rd. Morgan Stanley raised their price objective on shares of Athene from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, September 21st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $68.00 price objective on shares of Athene in a research report on Friday, September 21st. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $58.00 price objective on shares of Athene in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $61.33.
In other Athene news, Director Hope S. Taitz sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 61,269 shares in the company, valued at $3,057,323.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Grant Kvalheim sold 4,068 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $50.00, for a total value of $203,400.00. Following the transaction, the insider now owns 1,631,434 shares in the company, valued at approximately $81,571,700. The disclosure for this sale can be found here. In the last quarter, insiders have sold 469,884 shares of company stock worth $23,791,629. Corporate insiders own 8.46% of the company’s stock.
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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