Athene’s (ATH) “Hold” Rating Reiterated at Royal Bank of Canada

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Royal Bank of Canada reiterated their hold rating on shares of Athene (NYSE:ATH) in a research note published on Thursday morning, AnalystRatings.com reports.

Several other equities research analysts also recently issued reports on ATH. Credit Suisse Group cut their price objective on Athene from $67.00 to $57.00 and set an outperform rating on the stock in a report on Tuesday, May 21st. Morgan Stanley boosted their price objective on Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a report on Wednesday, July 10th. Wells Fargo & Co downgraded Mylan from an outperform rating to a market perform rating and cut their price objective for the company from $33.00 to $22.00 in a report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $55.80.

ATH stock opened at $42.15 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $8.27 billion, a P/E ratio of 6.84, a PEG ratio of 0.38 and a beta of 0.98. Athene has a 12-month low of $37.20 and a 12-month high of $53.92. The company has a fifty day moving average price of $42.83.

Athene (NYSE:ATH) last posted its quarterly earnings data on Tuesday, May 7th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.20). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Athene had a net margin of 14.36% and a return on equity of 13.32%. Athene’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. Sell-side analysts expect that Athene will post 7.07 EPS for the current fiscal year.

In other Athene news, insider Frank Lauren Gillis sold 19,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $44.98, for a total transaction of $877,110.00. Following the sale, the insider now owns 197,817 shares in the company, valued at approximately $8,897,808.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Richard Belardi purchased 80,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were bought at an average price of $25.00 per share, for a total transaction of $2,000,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 130,000 shares of company stock worth $3,250,000. 8.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC purchased a new position in shares of Athene in the 1st quarter valued at about $27,000. Truvestments Capital LLC purchased a new position in shares of Athene in the 1st quarter valued at about $51,000. Bremer Bank National Association purchased a new position in shares of Athene in the 1st quarter valued at about $64,000. Advisors Asset Management Inc. increased its holdings in shares of Athene by 70.9% in the 1st quarter. Advisors Asset Management Inc. now owns 2,362 shares of the insurance provider’s stock valued at $96,000 after acquiring an additional 980 shares during the last quarter. Finally, NumerixS Investment Technologies Inc increased its holdings in shares of Athene by 14.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,400 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.

Athene Company Profile

Athene Holding Ltd., a retirement services company, issues, reinsures, and acquires retirement savings products in the United States and Bermuda. It offers fixed deferred, immediate, and payout annuities; and funding agreements and pension risk transfer products to institutional investors. The company's products are designed for individuals and institutions seeking to fund retirement needs.

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Analyst Recommendations for Athene (NYSE:ATH)

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