Principal Financial Group Inc. Raises Holdings in Athene Holding Ltd (NYSE:ATH)
Principal Financial Group Inc. boosted its holdings in Athene Holding Ltd (NYSE:ATH) by 14.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 708,596 shares of the insurance provider’s stock after acquiring an additional 89,307 shares during the quarter. Principal Financial Group Inc.’s holdings in Athene were worth $28,911,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ATH. CI Investments Inc. bought a new stake in Athene in the fourth quarter worth about $285,245,000. Norges Bank acquired a new stake in Athene during the 4th quarter worth about $83,584,000. BlackRock Inc. raised its holdings in Athene by 18.1% during the 1st quarter. BlackRock Inc. now owns 10,629,381 shares of the insurance provider’s stock worth $433,680,000 after buying an additional 1,632,703 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Athene by 4,963.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,184,106 shares of the insurance provider’s stock worth $30,000 after buying an additional 1,160,720 shares during the period. Finally, Brahman Capital Corp. raised its holdings in Athene by 26.9% during the 4th quarter. Brahman Capital Corp. now owns 4,779,883 shares of the insurance provider’s stock worth $190,383,000 after buying an additional 1,013,594 shares during the period. Hedge funds and other institutional investors own 71.91% of the company’s stock.
Several analysts have issued reports on the company. Credit Suisse Group cut their price objective on Athene from $67.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Wells Fargo & Co restated a “buy” rating and set a $53.00 price objective on shares of Athene in a report on Tuesday, May 7th. Zacks Investment Research downgraded Athene from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, BMO Capital Markets upgraded Athene from a “market perform” rating to an “outperform” rating and set a $44.17 price objective on the stock in a report on Wednesday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Athene currently has a consensus rating of “Buy” and an average target price of $55.52.
Athene (NYSE:ATH) last announced its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $1.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.20). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.25 billion. Athene had a net margin of 14.36% and a return on equity of 13.32%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. As a group, equities analysts forecast that Athene Holding Ltd will post 7.13 earnings per share for the current year.
In related news, insider Frank Lauren Gillis sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $44.98, for a total value of $877,110.00. Following the completion of the sale, the insider now owns 197,817 shares of the company’s stock, valued at approximately $8,897,808.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marc A. Beilinson purchased 10,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $25.00 per share, with a total value of $250,000.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 130,000 shares of company stock valued at $3,250,000. 8.70% of the stock is currently owned by company insiders.
Athene Company Profile
Athene Holding Ltd., a retirement services company, issues, reinsures, and acquires retirement savings products in the United States and Bermuda. It offers fixed deferred, immediate, and payout annuities; and funding agreements and pension risk transfer products to institutional investors. The company's products are designed for individuals and institutions seeking to fund retirement needs.
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