Athene Holding Ltd. (ATH) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Athene Holding Ltd. (NYSE:ATH) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $61.00 price target on the insurance provider’s stock.

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. “

A number of other equities analysts have also recently issued reports on ATH. BMO Capital Markets restated a hold rating and set a $62.00 target price on shares of Athene Holding in a report on Friday, August 11th. Sandler O’Neill upgraded Athene Holding from a hold rating to a buy rating in a report on Friday, August 11th. Royal Bank Of Canada raised their target price on Athene Holding from $59.00 to $66.00 and gave the stock an outperform rating in a report on Friday, August 11th. Keefe, Bruyette & Woods set a $59.00 target price on Athene Holding and gave the stock a buy rating in a report on Friday, August 11th. Finally, Wells Fargo & Company upgraded Athene Holding to a buy rating in a report on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $57.86.

Athene Holding (NYSE:ATH) last issued its earnings results on Wednesday, August 9th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.37. The company had revenue of $821.00 million for the quarter, compared to the consensus estimate of $810.07 million.

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Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Athene Holding by 26.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,938,480 shares of the insurance provider’s stock valued at $393,827,000 after purchasing an additional 1,648,981 shares in the last quarter. CI Global Investments Inc. lifted its holdings in shares of Athene Holding by 7.3% during the 2nd quarter. CI Global Investments Inc. now owns 6,786,199 shares of the insurance provider’s stock valued at $336,663,000 after purchasing an additional 460,826 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Athene Holding by 46.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 6,067,906 shares of the insurance provider’s stock valued at $301,029,000 after purchasing an additional 1,932,900 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Athene Holding by 164.7% during the 2nd quarter. BlackRock Inc. now owns 5,112,966 shares of the insurance provider’s stock valued at $253,652,000 after purchasing an additional 3,181,535 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Athene Holding by 38.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,699,724 shares of the insurance provider’s stock valued at $133,933,000 after purchasing an additional 750,050 shares in the last quarter. Institutional investors and hedge funds own 47.49% of the company’s stock.

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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