Athene (ATH) Trading Down 5.7%

Athene Holding Ltd (NYSE:ATH) fell 5.7% on Wednesday . The company traded as low as $41.03 and last traded at $41.30. 2,770,565 shares were traded during trading, an increase of 113% from the average session volume of 1,299,882 shares. The stock had previously closed at $43.78.

A number of research firms have recently weighed in on ATH. Morgan Stanley raised their price target on Athene from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, September 21st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $68.00 price objective on shares of Athene in a report on Friday, September 21st. Bank of America reissued a “buy” rating and set a $67.00 price objective on shares of Athene in a report on Wednesday, October 3rd. Wells Fargo & Co set a $67.00 price objective on Athene and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, SunTrust Banks reissued a “buy” rating and set a $59.00 price objective on shares of Athene in a report on Monday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. Athene has a consensus rating of “Buy” and an average target price of $61.00.

The firm has a market cap of $8.69 billion, a PE ratio of 7.30, a P/E/G ratio of 0.54 and a beta of 0.78. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.11.

Athene (NYSE:ATH) last released its earnings results on Wednesday, October 31st. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.21. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.15 billion. Athene had a return on equity of 14.09% and a net margin of 17.65%. The company’s revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. As a group, equities research analysts predict that Athene Holding Ltd will post 6.24 earnings per share for the current year.

In other news, insider Grant Kvalheim sold 85,000 shares of Athene stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $51.06, for a total transaction of $4,340,100.00. Following the sale, the insider now owns 1,587,657 shares of the company’s stock, valued at approximately $81,065,766.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Lauren Gillis sold 1,000 shares of Athene stock in a transaction that occurred on 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 directly owns 218,638 shares in the company, valued at approximately $10,940,645.52. The disclosure for this sale can be found here. Insiders sold a total of 186,000 shares of company stock worth $9,561,140 in the last ninety days. Insiders own 8.46% of the company’s stock.

Large investors have recently made changes to their positions in the company. WINTON GROUP Ltd bought a new position in shares of Athene during the 3rd quarter worth approximately $213,000. Csenge Advisory Group bought a new position in shares of Athene during the 3rd quarter worth approximately $202,000. Bank of Hawaii bought a new position in shares of Athene during the 3rd quarter worth approximately $230,000. Cadence Capital Management LLC bought a new position in shares of Athene during the 3rd quarter worth approximately $266,000. Finally, Calamos Advisors LLC bought a new position in shares of Athene during the 3rd quarter worth approximately $281,000. 70.48% of the stock is currently owned by institutional investors.

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About Athene (NYSE:ATH)

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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