Zacks: Analysts Anticipate Athene Holding (ATH) Will Post Earnings of $1.20 Per Share

Analysts expect Athene Holding (NYSE:ATH) to post earnings of $1.20 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Athene’s earnings, with estimates ranging from $1.18 to $1.21. Athene posted earnings of $1.32 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.1%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Thursday, May 3rd.

According to Zacks, analysts expect that Athene will report full year earnings of $5.33 per share for the current financial year, with EPS estimates ranging from $5.20 to $5.45. For the next financial year, analysts anticipate that the company will post earnings of $6.29 per share, with EPS estimates ranging from $6.05 to $6.75. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Athene.

Athene (NYSE:ATH) last issued its earnings results on Thursday, May 3rd. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.03). The firm had revenue of $855.00 million during the quarter, compared to analysts’ expectations of $906.05 million. Athene had a return on equity of 12.75% and a net margin of 16.41%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 EPS.

Several brokerages have issued reports on ATH. Zacks Investment Research raised Athene from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, March 7th. Credit Suisse Group began coverage on Athene in a research note on Wednesday, April 25th. They issued an “outperform” rating and a $67.00 target price for the company. Wells Fargo set a $63.00 target price on Athene and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Citigroup cut their target price on Athene from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Finally, ValuEngine lowered Athene from a “buy” rating to a “hold” rating in a research note on Friday, April 6th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $62.91.

ATH traded up $0.42 during midday trading on Friday, hitting $46.71. The stock had a trading volume of 1,225,000 shares, compared to its average volume of 1,491,040. The firm has a market cap of $9.34 billion, a P/E ratio of 8.27, a P/E/G ratio of 0.58 and a beta of 0.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Athene has a 1 year low of $46.07 and a 1 year high of $46.81.

In related news, Director Manfred Puffer sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $50.44, for a total transaction of $2,017,600.00. Following the completion of the transaction, the director now owns 15,728 shares in the company, valued at $793,320.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Grant Kvalheim sold 85,000 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $50.05, for a total value of $4,254,250.00. Following the transaction, the insider now owns 1,554,013 shares of the company’s stock, valued at approximately $77,778,350.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,000 shares of company stock valued at $6,801,050. Insiders own 8.46% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. American International Group Inc. bought a new position in shares of Athene during the fourth quarter valued at approximately $116,000. Macquarie Group Ltd. raised its holdings in shares of Athene by 131.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,700 shares of the insurance provider’s stock valued at $191,000 after acquiring an additional 2,100 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Athene by 71.6% during the first quarter. Daiwa Securities Group Inc. now owns 5,149 shares of the insurance provider’s stock valued at $246,000 after acquiring an additional 2,149 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Athene during the first quarter valued at approximately $247,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Athene during the third quarter valued at approximately $261,000. Institutional investors own 51.24% 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, the District of Columbia, and Germany. It offers fixed deferred, immediate, and payout annuities; and funding agreements and pension risk transfer products to institutional investors.

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