Athene (ATH) Price Target Cut to $64.00

Athene (NYSE:ATH) had its price objective trimmed by Morgan Stanley from $65.00 to $64.00 in a report issued on Thursday. The brokerage currently has an overweight rating on the insurance provider’s stock.

ATH has been the topic of several other research reports. Wells Fargo reaffirmed a buy rating and set a $63.00 price target on shares of Athene in a research note on Friday, December 22nd. Evercore ISI reaffirmed a buy rating and set a $68.00 price target on shares of Athene in a research note on Thursday, December 21st. Zacks Investment Research raised Athene from a hold rating to a buy rating and set a $56.00 price target on the stock in a research note on Wednesday, March 7th. BMO Capital Markets reiterated a hold rating and issued a $61.00 price objective on shares of Athene in a report on Friday, December 22nd. Finally, Canaccord Genuity reiterated a buy rating on shares of Athene in a report on Thursday, December 7th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $62.38.

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Shares of ATH traded down $0.62 during trading hours on Thursday, hitting $47.33. 698,947 shares of the stock traded hands, compared to its average volume of 1,637,776. Athene has a 1-year low of $45.15 and a 1-year high of $55.22. The firm has a market capitalization of $9,563.12, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.60 and a beta of 0.23.

Athene (NYSE:ATH) last issued its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.46. Athene had a return on equity of 12.97% and a net margin of 16.47%. The business had revenue of $861.00 million for the quarter, compared to analyst estimates of $884.38 million. During the same quarter in the prior year, the firm posted $1.80 earnings per share. equities analysts predict that Athene will post 5.29 EPS for the current fiscal year.

In related news, insider Grant Kvalheim sold 85,000 shares of the company’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $50.05, for a total value of $4,254,250.00. Following the completion of the sale, the insider now owns 1,554,013 shares in the company, valued at $77,778,350.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Manfred Puffer sold 10,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $52.92, for a total value of $529,200.00. Following the completion of the sale, the director now owns 55,728 shares of the company’s stock, valued at approximately $2,949,125.76. The disclosure for this sale can be found here. Insiders sold 135,000 shares of company stock valued at $6,801,050 in the last quarter. 10.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC increased its holdings in shares of Athene by 19.6% in the fourth quarter. Verition Fund Management LLC now owns 7,036 shares of the insurance provider’s stock worth $364,000 after acquiring an additional 1,151 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Athene by 11.5% in the fourth quarter. Amalgamated Bank now owns 11,833 shares of the insurance provider’s stock worth $612,000 after acquiring an additional 1,222 shares in the last quarter. Pitcairn Co. increased its holdings in shares of Athene by 8.2% in the fourth quarter. Pitcairn Co. now owns 16,984 shares of the insurance provider’s stock worth $878,000 after acquiring an additional 1,280 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Athene by 27.6% in the fourth quarter. Aperio Group LLC now owns 8,201 shares of the insurance provider’s stock worth $424,000 after acquiring an additional 1,774 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Athene by 40.5% in the fourth quarter. Toronto Dominion Bank now owns 6,339 shares of the insurance provider’s stock worth $327,000 after acquiring an additional 1,827 shares in the last quarter. Institutional investors own 50.51% of the company’s stock.

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About Athene

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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