Wells Fargo & Co Trims Athene (NYSE:ATH) Target Price to $50.00

Athene (NYSE:ATH) had its price target reduced by Wells Fargo & Co from $53.00 to $50.00 in a report published on Tuesday, BenzingaRatingsTable reports. They currently have an outperform rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on the stock. Bank of America reiterated a buy rating and issued a $49.00 price target on shares of Athene in a report on Monday, August 5th. Morgan Stanley dropped their price objective on shares of Athene from $58.00 to $56.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Zacks Investment Research raised shares of Athene from a sell rating to a hold rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued a hold rating on shares of Athene in a research note on Thursday, July 18th. Finally, Credit Suisse Group dropped 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Athene presently has an average rating of Buy and an average target price of $55.88.

Shares of NYSE ATH opened at $39.85 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.11 and a current ratio of 0.12. The company has a market cap of $7.72 billion, a P/E ratio of 5.94, a P/E/G ratio of 0.36 and a beta of 0.98. The company has a fifty day moving average of $42.08. Athene has a 52-week low of $36.00 and a 52-week high of $53.92.

Athene (NYSE:ATH) last announced its quarterly earnings results on Monday, August 5th. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.14. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.28 billion. Athene had a net margin of 16.27% and a return on equity of 12.84%. Athene’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS. As a group, equities analysts anticipate that Athene will post 7.01 earnings per share for the current fiscal year.

In related news, insider Frank Lauren Gillis sold 19,500 shares of Athene stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $42.64, for a total transaction of $831,480.00. Following the completion of the transaction, the insider now directly owns 177,817 shares of the company’s stock, valued at approximately $7,582,116.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Richard Belardi purchased 80,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $25.00 per share, with a total value of $2,000,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 130,000 shares of company stock valued at $3,250,000 over the last three months. Corporate insiders own 8.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in shares of Athene by 80.9% during the 4th quarter. Millennium Management LLC now owns 111,926 shares of the insurance provider’s stock valued at $4,458,000 after acquiring an additional 50,038 shares in the last quarter. FMR LLC acquired a new stake in shares of Athene during the 4th quarter valued at $1,716,000. Geode Capital Management LLC boosted its holdings in shares of Athene by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 1,293,529 shares of the insurance provider’s stock valued at $51,483,000 after acquiring an additional 108,654 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Athene by 30.7% during the 4th quarter. Deutsche Bank AG now owns 422,725 shares of the insurance provider’s stock valued at $16,834,000 after acquiring an additional 99,204 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Athene by 1.6% during the 1st quarter. State of Alaska Department of Revenue now owns 17,133 shares of the insurance provider’s stock valued at $699,000 after acquiring an additional 263 shares in the last quarter. 71.70% of the stock is owned by hedge funds and other institutional investors.

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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