Athene (ATH) Rating Reiterated by SunTrust Banks

Athene (NYSE:ATH)‘s stock had its “buy” rating reaffirmed by equities research analysts at SunTrust Banks in a report released on Monday. They presently have a $59.00 price objective on the insurance provider’s stock. SunTrust Banks’ price target suggests a potential upside of 28.62% from the company’s previous close.

ATH has been the subject of a number of other research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $68.00 target price on shares of Athene in a report on Friday, September 21st. Barclays lowered their target price on Athene from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, July 9th. Morgan Stanley increased their target price on Athene from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, September 21st. Wells Fargo & Co reiterated a “buy” rating and set a $65.00 target price on shares of Athene in a report on Friday, August 3rd. Finally, Citigroup reiterated a “hold” rating on shares of Athene in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $61.15.

ATH opened at $45.87 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 264.96 and a quick ratio of 264.96. Athene has a 12 month low of $43.09 and a 12 month high of $53.92. The firm has a market capitalization of $9.01 billion, a P/E ratio of 8.10, a PEG ratio of 0.56 and a beta of 0.81.

Athene (NYSE:ATH) last released its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.21. Athene had a net margin of 17.65% and a return on equity of 18.93%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. As a group, sell-side analysts forecast that Athene will post 6.17 earnings per share for the current fiscal year.

In other news, insider Frank Lauren Gillis sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $50.04, for a total value of $50,040.00. Following the completion of the transaction, the insider now owns 218,638 shares in the company, valued at approximately $10,940,645.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Grant Kvalheim sold 81,982 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $50.02, for a total value of $4,100,739.64. Following the completion of the transaction, the insider now owns 1,631,434 shares of the company’s stock, valued at approximately $81,604,328.68. The disclosure for this sale can be found here. Insiders sold a total of 420,899 shares of company stock valued at $21,342,989 in the last 90 days. 8.46% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Athene by 7.5% in the 2nd quarter. BlackRock Inc. now owns 9,098,796 shares of the insurance provider’s stock valued at $398,891,000 after purchasing an additional 632,619 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Athene by 4.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,177,100 shares of the insurance provider’s stock valued at $95,444,000 after purchasing an additional 87,911 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Athene by 283.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,996,436 shares of the insurance provider’s stock valued at $87,524,000 after purchasing an additional 1,475,608 shares during the last quarter. Levin Capital Strategies L.P. lifted its stake in Athene by 16.7% in the 2nd quarter. Levin Capital Strategies L.P. now owns 1,769,809 shares of the insurance provider’s stock valued at $77,588,000 after purchasing an additional 253,628 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Athene by 5.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,541,699 shares of the insurance provider’s stock valued at $79,645,000 after purchasing an additional 82,866 shares during the last quarter. Institutional investors own 67.25% 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, the District of Columbia, and Germany. It offers fixed deferred, immediate, and payout annuities; and funding agreements and pension risk transfer products to institutional investors.

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Analyst Recommendations for Athene (NYSE:ATH)

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