Zacks Investment Research Downgrades Athene Holding Ltd. (ATH) to Hold
Athene Holding Ltd. (NYSE:ATH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
Several other analysts have also recently commented on the stock. Sandler O’Neill raised shares of Athene Holding from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank Of Canada increased their price target on shares of Athene Holding from $59.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets reissued a “hold” rating and set a $62.00 price target on shares of Athene Holding in a research note on Friday. Wells Fargo & Company raised shares of Athene Holding to a “buy” rating in a research note on Wednesday. Finally, Credit Suisse Group upgraded shares of Athene Holding from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $66.00 in a report on Monday, June 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $57.43.
Shares of Athene Holding (NYSE:ATH) traded up 1.68% during midday trading on Friday, reaching $52.60. The company had a trading volume of 1,146,259 shares. The company has a market capitalization of $10.54 billion and a P/E ratio of 8.52. The firm’s 50 day moving average price is $49.99 and its 200-day moving average price is $50.73. Athene Holding has a 12 month low of $43.25 and a 12 month high of $55.10.
Athene Holding (NYSE:ATH) last released its quarterly earnings results on Wednesday, August 9th. The insurance provider reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.37. The company had revenue of $821 million for the quarter, compared to the consensus estimate of $810.07 million. Analysts anticipate that Athene Holding will post $4.83 earnings per share for the current fiscal year.
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In related news, major shareholder Apollo Management Holdings Gp, sold 7,602,830 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $49.00, for a total value of $372,538,670.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 10.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. CI Global Investments Inc. raised its stake in Athene Holding by 40.3% in the first quarter. CI Global Investments Inc. now owns 6,325,373 shares of the insurance provider’s stock valued at $316,205,000 after buying an additional 1,816,836 shares during the period. Three Peaks Capital Management LLC purchased a new stake in Athene Holding during the first quarter valued at $9,516,000. FSI Group LLC raised its stake in Athene Holding by 76.9% in the first quarter. FSI Group LLC now owns 138,000 shares of the insurance provider’s stock valued at $6,899,000 after buying an additional 60,000 shares during the period. Bank of New York Mellon Corp raised its stake in Athene Holding by 69.9% in the first quarter. Bank of New York Mellon Corp now owns 1,949,674 shares of the insurance provider’s stock valued at $97,464,000 after buying an additional 802,093 shares during the period. Finally, Henderson Group PLC purchased a new stake in Athene Holding during the first quarter valued at $12,498,000. Institutional investors own 37.91% of the company’s stock.
Athene Holding Company Profile
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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