BlackRock Inc. acquired a new position in shares of Athene Holding Ltd. (NYSE:ATH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,931,431 shares of the insurance provider’s stock, valued at approximately $96,552,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. bought a new stake in Athene Holding during the first quarter valued at about $117,000. Quantbot Technologies LP bought a new stake in Athene Holding during the first quarter valued at about $126,000. Loews Corp bought a new stake in Athene Holding during the first quarter valued at about $225,000. Pitcairn Co. bought a new stake in Athene Holding during the first quarter valued at about $233,000. Finally, State of Wisconsin Investment Board bought a new stake in Athene Holding during the first quarter valued at about $271,000. Institutional investors own 38.03% of the company’s stock.
Athene Holding Ltd. (NYSE:ATH) traded down 0.22% during trading on Thursday, hitting $50.68. The stock had a trading volume of 45,939 shares. The firm’s 50-day moving average price is $49.84 and its 200-day moving average price is $50.62. Athene Holding Ltd. has a 52-week low of $43.25 and a 52-week high of $55.10. The company has a market cap of $10.16 billion and a price-to-earnings ratio of 9.31.
Athene Holding (NYSE:ATH) last released its quarterly earnings data on Wednesday, May 10th. The insurance provider reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.34. The company had revenue of $786 million for the quarter, compared to analysts’ expectations of $785.94 million. During the same quarter in the previous year, the business posted $0.82 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Analysts predict that Athene Holding Ltd. will post $4.64 EPS for the current fiscal year.
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Several analysts have issued reports on the company. Zacks Investment Research raised Athene Holding from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, May 16th. BMO Capital Markets reissued a “neutral” rating and set a $54.00 price target on shares of Athene Holding in a report on Friday, May 12th. Bank of America Corporation reissued a “buy” rating and set a $63.00 price target (up previously from $61.00) on shares of Athene Holding in a report on Monday, May 15th. Deutsche Bank AG reissued a “hold” rating and set a $59.00 price target (up previously from $58.00) on shares of Athene Holding in a report on Monday, May 15th. Finally, Credit Suisse Group raised Athene Holding from a “neutral” rating to an “outperform” rating and boosted their price target 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 issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.21.
In related news, major shareholder Apollo Management Holdings Gp, sold 7,602,830 shares of Athene Holding stock in a transaction dated Monday, June 12th. The stock was 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 Securities & Exchange Commission, which is accessible through this link. 10.60% of the stock is owned by insiders.
About Athene Holding
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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