Short Interest in Athene Holding Ltd (NYSE:ATH) Drops By 25.0%

Athene Holding Ltd (NYSE:ATH) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 4,974,700 shares, a decline of 25.0% from the May 15th total of 6,631,800 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is presently 3.5 days.

NYSE:ATH traded up $0.09 during trading hours on Friday, hitting $42.15. 1,571,810 shares of the stock were exchanged, compared to its average volume of 1,129,422. Athene has a 52-week low of $37.20 and a 52-week high of $53.92. The business’s fifty day simple moving average is $42.83. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.27 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.38 and a beta of 0.98.

Athene (NYSE:ATH) last issued its earnings results on Tuesday, May 7th. The insurance provider reported $1.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.20). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.25 billion. Athene had a return on equity of 13.32% and a net margin of 14.36%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. As a group, sell-side analysts expect that Athene will post 7.07 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on ATH shares. Wells Fargo & Co cut Mylan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $33.00 to $22.00 in a report on Tuesday, May 7th. Royal Bank of Canada reissued a “buy” rating and issued a $2.50 price objective on shares of in a report on Thursday. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Morgan Stanley lifted their price target on Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. Finally, Credit Suisse Group cut their price target on Athene from $67.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $55.80.

In other news, insider Frank Lauren Gillis sold 19,500 shares of the business’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is accessible through this link. Also, CEO James Richard Belardi acquired 80,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $25.00 per share, with a total value of $2,000,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 130,000 shares of company stock valued at $3,250,000. 8.70% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of ATH. Quadrant Capital Group LLC acquired a new position in Athene during the first quarter worth $27,000. Truvestments Capital LLC acquired a new position in Athene during the first quarter worth $51,000. Advisors Asset Management Inc. acquired a new position in Athene during the fourth quarter worth $55,000. Bremer Trust National Association acquired a new position in Athene during the fourth quarter worth $56,000. Finally, Bremer Bank National Association acquired a new position in Athene during the first quarter worth $64,000. Institutional investors and hedge funds own 71.87% of the company’s stock.

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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