Zacks Investment Research Downgrades Athene (NYSE:ATH) to Strong Sell

Zacks Investment Research lowered shares of Athene (NYSE:ATH) from a hold rating to a strong sell rating in a report published on Friday morning, Zacks.com reports.

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. “

Several other brokerages also recently issued reports on ATH. Wells Fargo & Co lowered their price objective on shares of Athene from $50.00 to $48.00 and set an outperform rating on the stock in a research note on Tuesday, October 8th. Citigroup lowered their price objective on shares of Athene from $49.00 to $47.00 and set a neutral rating on the stock in a research note on Friday, September 13th. ValuEngine downgraded shares of Athene from a hold rating to a sell rating in a research note on Friday, November 1st. Royal Bank of Canada downgraded shares of Athene from a sector perform rating to an underperform rating in a research note on Friday, October 18th. Finally, SunTrust Banks lowered their price objective on shares of Athene to $52.00 and set a buy rating on the stock in a research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $53.20.

ATH stock traded up $0.55 during midday trading on Friday, hitting $44.20. 1,464,000 shares of the company traded hands, compared to its average volume of 1,474,784. Athene has a twelve month low of $36.00 and a twelve month high of $47.73. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.07. The business has a 50 day simple moving average of $41.76 and a 200-day simple moving average of $41.92. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 0.50 and a beta of 1.01.

Athene (NYSE:ATH) last announced its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.44). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.31 billion. Athene had a return on equity of 10.45% and a net margin of 11.56%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 EPS. Equities research analysts forecast that Athene will post 6.51 EPS for the current year.

In other Athene news, insider Frank Lauren Gillis sold 10,000 shares of Athene stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $42.03, for a total transaction of $420,300.00. Following the sale, the insider now owns 157,817 shares in the company, valued at $6,633,048.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert L. Borden sold 3,000 shares of Athene stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $37.75, for a total transaction of $113,250.00. Following the sale, the director now owns 29,012 shares in the company, valued at approximately $1,095,203. The disclosure for this sale can be found here. Insiders have sold 48,500 shares of company stock worth $1,898,560 in the last quarter. Corporate insiders own 8.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ATH. FMR LLC boosted its stake in Athene by 39.8% during the first quarter. FMR LLC now owns 60,261 shares of the insurance provider’s stock worth $2,458,000 after buying an additional 17,160 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Athene by 9.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 166,866 shares of the insurance provider’s stock worth $6,809,000 after buying an additional 14,336 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Athene during the second quarter worth $552,000. Gofen & Glossberg LLC IL boosted its stake in Athene by 0.4% during the second quarter. Gofen & Glossberg LLC IL now owns 177,728 shares of the insurance provider’s stock worth $7,653,000 after buying an additional 700 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in Athene by 20.5% during the second quarter. Xact Kapitalforvaltning AB now owns 25,018 shares of the insurance provider’s stock worth $1,077,000 after buying an additional 4,262 shares in the last quarter. Hedge funds and other institutional investors own 70.21% 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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