Keefe, Bruyette & Woods Reiterates “$59.00” Price Target for Athene Holding Ltd. (ATH)
Athene Holding Ltd. (NYSE:ATH) received a $59.00 price target from stock analysts at Keefe, Bruyette & Woods in a research note issued on Friday. The brokerage presently has a “buy” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 12.17% from the stock’s current price.
Several other brokerages have also weighed in on ATH. BMO Capital Markets reissued a “neutral” rating and issued a $54.00 price objective on shares of Athene Holding in a report on Friday, May 12th. Deutsche Bank AG decreased their price objective on Athene Holding from $59.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, April 19th. Bank of America Corporation reissued a “buy” rating and issued a $63.00 price objective (up previously from $61.00) on shares of Athene Holding in a report on Monday, May 15th. Zacks Investment Research raised Athene Holding from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, May 16th. Finally, Sandler O’Neill raised Athene Holding from a “hold” rating to a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.50.
Athene Holding (ATH) opened at 52.60 on Friday. Athene Holding has a one year low of $43.25 and a one year high of $55.10. The firm has a market capitalization of $10.54 billion and a P/E ratio of 8.52. The company’s 50-day moving average is $50.06 and its 200-day moving average is $50.78.
Athene Holding (NYSE:ATH) last announced its quarterly earnings data on Wednesday, August 9th. The insurance provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.37. The firm had revenue of $821 million during the quarter, compared to analysts’ expectations of $810.07 million. Equities analysts forecast that Athene Holding will post $4.83 earnings per share for the current fiscal year.
In other news, major shareholder Apollo Management Holdings Gp, sold 7,602,830 shares of Athene Holding stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $49.00, for a total transaction of $372,538,670.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Athene Holding by 26.2% in the second quarter. Vanguard Group Inc. now owns 7,938,480 shares of the insurance provider’s stock worth $393,827,000 after buying an additional 1,648,981 shares during the period. CI Global Investments Inc. increased its stake in shares of Athene Holding by 7.3% in the second quarter. CI Global Investments Inc. now owns 6,786,199 shares of the insurance provider’s stock worth $336,663,000 after buying an additional 460,826 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Athene Holding by 46.7% in the second quarter. Neuberger Berman Group LLC now owns 6,067,906 shares of the insurance provider’s stock worth $301,029,000 after buying an additional 1,932,900 shares during the period. BlackRock Inc. increased its stake in shares of Athene Holding by 164.7% in the second quarter. BlackRock Inc. now owns 5,112,966 shares of the insurance provider’s stock worth $253,652,000 after buying an additional 3,181,535 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Athene Holding by 4,704.2% in the first quarter. Wellington Management Group LLP now owns 2,922,894 shares of the insurance provider’s stock worth $146,115,000 after buying an additional 2,862,054 shares during the period. Hedge funds and other institutional investors own 37.91% of the company’s stock.
About Athene Holding
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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