Wells Fargo & Co Reiterates “Buy” Rating for Athene (ATH)

Athene (NYSE:ATH)‘s stock had its “buy” rating reiterated by equities researchers at Wells Fargo & Co in a research note issued to investors on Wednesday.

The analysts wrote, “We note that alt yields were light of expectations this quarter but higher interest rates will help fixed yields going forward.””

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Athene from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $61.00 target price on shares of Athene in a research note on Friday, December 22nd. Evercore ISI reiterated a “buy” rating and issued a $68.00 target price on shares of Athene in a research note on Thursday, December 21st. Canaccord Genuity reiterated a “buy” rating on shares of Athene in a research note on Thursday, December 7th. Finally, Scotiabank reiterated a “hold” rating on shares of Athene in a research note on Monday, December 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $63.00.

Athene (NYSE ATH) traded up $0.17 during midday trading on Wednesday, reaching $48.62. 1,610,177 shares of the company were exchanged, compared to its average volume of 1,317,494. Athene has a 1-year low of $45.15 and a 1-year high of $55.22. The stock has a market capitalization of $9,690.00 and a P/E ratio of 6.80.

Several hedge funds have recently added to or reduced their stakes in ATH. Northern Trust Corp boosted its position in shares of Athene by 407.2% in the second quarter. Northern Trust Corp now owns 364,663 shares of the insurance provider’s stock valued at $18,091,000 after acquiring an additional 292,764 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Athene by 376.9% in the second quarter. Parametric Portfolio Associates LLC now owns 98,621 shares of the insurance provider’s stock valued at $4,893,000 after acquiring an additional 77,941 shares during the period. Voya Investment Management LLC boosted its position in shares of Athene by 48.8% in the second quarter. Voya Investment Management LLC now owns 12,181 shares of the insurance provider’s stock valued at $604,000 after acquiring an additional 3,996 shares during the period. Royal Bank of Canada boosted its position in shares of Athene by 1,231.7% in the second quarter. Royal Bank of Canada now owns 58,636 shares of the insurance provider’s stock valued at $2,908,000 after acquiring an additional 54,233 shares during the period. Finally, State Street Corp boosted its position in shares of Athene by 512.4% in the second quarter. State Street Corp now owns 1,590,795 shares of the insurance provider’s stock valued at $78,926,000 after acquiring an additional 1,331,049 shares during the period. Institutional investors own 49.81% of the company’s stock.

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Athene Company Profile

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.

Analyst Recommendations for Athene (NYSE:ATH)

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