Royal Bank of Canada Reaffirms “Hold” Rating for Athene (NYSE:ATH)

Royal Bank of Canada reaffirmed their hold rating on shares of Athene (NYSE:ATH) in a report issued on Thursday morning, AnalystRatings.com reports.

Other research analysts have also issued reports about the company. 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 report on Tuesday, May 21st. Zacks Investment Research upgraded DLH from a sell rating to a hold rating in a research note on Tuesday, July 9th. Wells Fargo & Co lowered Mylan from an outperform rating to a market perform rating and cut their target price for the company from $33.00 to $22.00 in a research note on Tuesday, May 7th. Finally, Morgan Stanley upped their target price on Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $55.80.

Shares of ATH stock opened at $42.15 on Thursday. Athene has a 12 month low of $37.20 and a 12 month high of $53.92. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 0.38 and a beta of 0.98. The stock’s 50 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.

Athene (NYSE:ATH) last issued its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.20). Athene had a return on equity of 13.32% and a net margin of 14.36%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities analysts expect that Athene will post 7.07 EPS for the current fiscal year.

In other Athene news, insider Frank Lauren Gillis sold 19,500 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $42.64, for a total transaction of $831,480.00. Following the completion of the transaction, the insider now directly owns 177,817 shares in the company, valued at $7,582,116.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marc A. Beilinson acquired 10,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were bought at an average price of $25.00 per share, with a total value of $250,000.00. Following the completion of the purchase, the director now directly owns 187,817 shares of the company’s stock, valued at $4,695,425. The disclosure for this purchase can be found here. Insiders purchased 130,000 shares of company stock valued at $3,250,000 over the last 90 days. 8.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ATH. CI Investments Inc. acquired a new position in Athene during the fourth quarter worth $285,245,000. Norges Bank bought a new stake in shares of Athene during the fourth quarter worth $83,584,000. BlackRock Inc. grew its holdings in shares of Athene by 18.1% during the first quarter. BlackRock Inc. now owns 10,629,381 shares of the insurance provider’s stock worth $433,680,000 after purchasing an additional 1,632,703 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Athene by 418.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,162,628 shares of the insurance provider’s stock worth $47,435,000 after purchasing an additional 938,304 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Athene by 2,994.9% during the fourth quarter. Principal Financial Group Inc. now owns 619,289 shares of the insurance provider’s stock worth $24,667,000 after purchasing an additional 599,279 shares during the last quarter. Hedge funds and other institutional investors own 71.87% of the company’s stock.

About Athene

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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Analyst Recommendations for Athene (NYSE:ATH)

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