Athene Holding Ltd. (NYSE:ATH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “Athene Holding Ltd. is a retirement services company. Its products and services include Fixed and fixed indexed annuity products, Reinsurance services offered to third-party annuity providers and Institutional products, such as funding agreements. Athene Holding Ltd. is based in Pembroke, Bermuda. “
ATH has been the subject of a number of other reports. Credit Suisse Group upgraded Athene Holding from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $66.00 in a research note on Monday, June 19th. Royal Bank Of Canada lifted their price target on Athene Holding from $59.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America Corporation reiterated a “buy” rating and issued a $63.00 price target (up from $61.00) on shares of Athene Holding in a research note on Monday, May 15th. BMO Capital Markets reiterated a “neutral” rating and issued a $54.00 price target on shares of Athene Holding in a research note on Friday, May 12th. Finally, Deutsche Bank AG decreased their price target on Athene Holding from $59.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, April 19th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.43.
Athene Holding (ATH) traded up 1.68% on Friday, hitting $52.60. The stock had a trading volume of 1,146,259 shares. The stock has a market cap of $10.54 billion and a P/E ratio of 8.52. The company’s 50-day moving average is $49.99 and its 200-day moving average is $50.73. Athene Holding has a one year low of $43.25 and a one year high of $55.10.
Athene Holding (NYSE:ATH) last posted its quarterly earnings results on Wednesday, August 9th. The insurance provider reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.37. The firm had revenue of $821 million during the quarter, compared to analyst estimates of $810.07 million. On average, analysts anticipate that Athene Holding will post $4.83 earnings per share for the current fiscal year.
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In other Athene Holding news, major shareholder Apollo Management Holdings Gp, sold 7,602,830 shares of Athene Holding stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ATH. Vanguard Group Inc. boosted its stake in Athene Holding by 347.1% in the first quarter. Vanguard Group Inc. now owns 6,289,499 shares of the insurance provider’s stock worth $314,412,000 after buying an additional 4,882,626 shares during the period. BlackRock Inc. boosted its stake in Athene Holding by 164.7% in the second quarter. BlackRock Inc. now owns 5,112,966 shares of the insurance provider’s stock worth $253,652,000 after buying an additional 3,181,535 shares during the period. Wellington Management Group LLP boosted its stake in Athene Holding by 4,704.2% in the first quarter. Wellington Management Group LLP now owns 2,922,894 shares of the insurance provider’s stock worth $146,115,000 after buying an additional 2,862,054 shares during the period. Neuberger Berman Group LLC boosted its stake in Athene Holding by 46.7% in the second quarter. Neuberger Berman Group LLC now owns 6,067,906 shares of the insurance provider’s stock worth $301,029,000 after buying an additional 1,932,900 shares during the period. Finally, CI Global Investments Inc. boosted its stake in Athene Holding by 40.3% in the first quarter. CI Global Investments Inc. now owns 6,325,373 shares of the insurance provider’s stock worth $316,205,000 after buying an additional 1,816,836 shares during the period. 37.91% of the stock is currently owned by institutional investors.
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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