Athene (NYSE:ATH)‘s stock had its “buy” rating restated by investment analysts at Wells Fargo & Co in a report released on Tuesday, May 7th, AnalystRatings.com reports. They currently have a $53.00 price target on the insurance provider’s stock. Wells Fargo & Co‘s price target suggests a potential upside of 26.46% from the company’s previous close.
The analysts wrote, “We expect ATH shares to trade down reflecting the earnings miss in the quarter.””
ATH has been the topic of several other reports. Zacks Investment Research lowered Athene from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets upgraded Athene from a “market perform” rating to an “outperform” rating and set a $44.17 price objective for the company in a research note on Wednesday, February 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $63.00 price objective on shares of Athene in a research note on Wednesday, January 9th. Finally, TD Securities reiterated a “buy” rating on shares of Athene in a research note on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company 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 Zacks’ consensus estimate of $1.70 by ($0.20). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Athene had a return on equity of 13.32% and a net margin of 14.36%. Athene’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. On average, analysts forecast that Athene will post 7.13 EPS for the current fiscal year.
In related news, insider Frank Lauren Gillis sold 19,500 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $42.76, for a total transaction of $833,820.00. Following the completion of the sale, the insider now owns 207,817 shares in the company, valued at $8,886,254.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 58,500 shares of company stock valued at $2,527,590. 8.46% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. CI Investments Inc. bought a new stake in Athene during the fourth quarter valued at about $285,245,000. Wellington Management Group LLP grew its holdings in Athene by 38.8% during the first quarter. Wellington Management Group LLP now owns 14,049,501 shares of the insurance provider’s stock valued at $573,219,000 after purchasing an additional 3,930,759 shares during the period. Goldman Sachs Group Inc. grew its holdings in Athene by 124.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,894,625 shares of the insurance provider’s stock valued at $158,901,000 after purchasing an additional 2,160,427 shares during the period. AQR Capital Management LLC grew its holdings in Athene by 82.3% during the first quarter. AQR Capital Management LLC now owns 4,692,433 shares of the insurance provider’s stock valued at $191,029,000 after purchasing an additional 2,118,776 shares during the period. Finally, Norges Bank bought a new stake in Athene during the fourth quarter valued at about $83,584,000. Institutional investors own 71.91% of the company’s stock.
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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