Athene Holding Ltd (NYSE:ATH) – Stock analysts at SunTrust Banks dropped their Q3 2019 earnings per share (EPS) estimates for shares of Athene in a research report issued to clients and investors on Monday, August 5th, Zacks Investment Research reports. SunTrust Banks analyst M. Hughes now expects that the insurance provider will post earnings of $1.79 per share for the quarter, down from their previous forecast of $1.87. SunTrust Banks also issued estimates for Athene’s Q4 2019 earnings at $1.82 EPS, FY2019 earnings at $7.05 EPS, Q1 2020 earnings at $1.91 EPS, Q2 2020 earnings at $1.96 EPS, Q3 2020 earnings at $2.03 EPS, Q4 2020 earnings at $2.10 EPS and FY2020 earnings at $8.00 EPS.
Several other research firms have also commented on ATH. Zacks Investment Research upgraded shares of Athene from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Credit Suisse Group reduced their price objective on shares of Athene from $67.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Wells Fargo & Co reduced their price objective on shares of Athene from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. BMO Capital Markets set a $68.00 price objective on shares of Athene and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley dropped their target price on shares of Athene from $58.00 to $56.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $55.88.
Athene (NYSE:ATH) last posted its quarterly earnings results on Monday, August 5th. The insurance provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.81 by $0.14. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.28 billion. Athene had a net margin of 16.27% and a return on equity of 12.84%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS.
Several hedge funds have recently added to or reduced their stakes in ATH. BlackRock Inc. boosted its holdings in Athene by 18.1% during the first quarter. BlackRock Inc. now owns 10,629,381 shares of the insurance provider’s stock worth $433,680,000 after buying an additional 1,632,703 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Athene by 13.1% during the second quarter. AQR Capital Management LLC now owns 5,305,711 shares of the insurance provider’s stock worth $225,970,000 after buying an additional 613,278 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Athene during the second quarter worth $113,393,000. GMT Capital Corp boosted its holdings in Athene by 1.2% during the first quarter. GMT Capital Corp now owns 2,175,090 shares of the insurance provider’s stock worth $88,744,000 after buying an additional 26,200 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Athene by 16.5% during the second quarter. Invesco Ltd. now owns 2,101,357 shares of the insurance provider’s stock worth $90,484,000 after buying an additional 297,691 shares in the last quarter. 71.52% of the stock is currently owned by institutional investors and hedge funds.
In other Athene news, CEO James Richard Belardi acquired 80,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $25.00 per share, with a total value of $2,000,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Frank Lauren Gillis sold 19,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.00, for a total transaction of $741,000.00. Following the completion of the sale, the insider now directly owns 167,817 shares in the company, valued at $6,377,046. The disclosure for this sale can be found here. In the last three months, insiders have acquired 130,000 shares of company stock worth $3,250,000 and have sold 47,000 shares worth $1,886,400. 8.70% of the stock is currently owned by insiders.
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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