Athene (ATH) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of Athene (NYSE:ATH) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Athene Holding Ltd. is a retirement services company. Its products and services include Fixed and fixed indexed annuity products, Reinsurance services offered to third-party annuity providers and Institutional products, such as funding agreements. Athene Holding Ltd. is based in Pembroke, Bermuda. “
A number of other research analysts also recently commented on the stock. Wells Fargo & Co reissued a buy rating and set a $63.00 target price on shares of Athene in a research report on Friday, December 22nd. BMO Capital Markets reissued a hold rating and set a $61.00 target price on shares of Athene in a research report on Friday, December 22nd. Evercore ISI reaffirmed a buy rating and issued a $68.00 price objective on shares of Athene in a research report on Thursday, December 21st. Canaccord Genuity reaffirmed a buy rating on shares of Athene in a research report on Thursday, December 7th. Finally, Scotiabank reaffirmed a hold rating on shares of Athene in a research report on Monday, December 4th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $61.69.
Athene (ATH) traded up $0.28 during midday trading on Wednesday, reaching $50.94. 1,230,000 shares of the company’s stock were exchanged, compared to its average volume of 1,460,000. The stock has a market cap of $10,190.00 and a P/E ratio of 7.12. Athene has a 1-year low of $45.15 and a 1-year high of $55.22.
Athene (NYSE:ATH) last posted its earnings results on Monday, November 6th. The insurance provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. The business had revenue of $863.00 million for the quarter, compared to the consensus estimate of $852.85 million. Athene had a net margin of 18.66% and a return on equity of 12.97%. analysts expect that Athene will post 5.17 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Athene by 26.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,938,480 shares of the insurance provider’s stock worth $393,827,000 after purchasing an additional 1,648,981 shares in the last quarter. CI Global Investments Inc. boosted its stake in Athene by 3.7% in the 3rd quarter. CI Global Investments Inc. now owns 7,036,310 shares of the insurance provider’s stock worth $378,835,000 after purchasing an additional 250,111 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Athene by 2.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 6,207,101 shares of the insurance provider’s stock worth $334,190,000 after purchasing an additional 139,195 shares in the last quarter. BlackRock Inc. boosted its stake in Athene by 164.7% in the 2nd quarter. BlackRock Inc. now owns 5,112,966 shares of the insurance provider’s stock worth $253,652,000 after purchasing an additional 3,181,535 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Athene by 48.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,686,185 shares of the insurance provider’s stock worth $133,262,000 after purchasing an additional 876,113 shares in the last quarter. Institutional investors own 48.38% of the company’s stock.
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Athene Holding Ltd. is an insurance holding company. The Company’s segments include Retirement Services, Corporate and Other. Retirement Services segment consists of the United States and Bermuda operations, which issue and reinsure retirement savings products and institutional products. Retirement Services has retail operations, which provide annuity retirement solutions to its policyholders.
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