Athene (NYSE:ATH) Price Target Cut to $56.00 by Analysts at Morgan Stanley

Athene (NYSE:ATH) had its target price reduced by Morgan Stanley from $58.00 to $56.00 in a report published on Wednesday morning, Stock Target Advisor reports. They currently have an overweight rating on the insurance provider’s stock.

Several other equities research analysts have also issued reports on ATH. Wells Fargo & Co lowered shares of Mylan from an outperform rating to a market perform rating and lowered their price target for the company from $33.00 to $22.00 in a research note on Tuesday, May 7th. Credit Suisse Group lowered their price target on shares of Athene from $67.00 to $57.00 and set an outperform rating on the stock in a research note on Tuesday, May 21st. Finally, Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $55.80.

ATH stock traded up $0.28 during midday trading on Wednesday, hitting $42.78. The company’s stock had a trading volume of 972,414 shares, compared to its average volume of 1,470,278. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.10. Athene has a twelve month low of $37.20 and a twelve month high of $53.92. The business has a fifty day moving average price of $42.86. The firm has a market cap of $8.43 billion, a PE ratio of 7.35, a P/E/G ratio of 0.39 and a beta of 0.98.

Athene (NYSE:ATH) last issued its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.20). Athene had a net margin of 14.36% and a return on equity of 13.32%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, equities research analysts forecast that Athene will post 7.09 earnings per share for the current fiscal year.

In other news, Director Marc A. Beilinson acquired 10,000 shares of the stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $250,000.00. Following the purchase, the director now directly owns 187,817 shares of the company’s stock, valued at $4,695,425. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Lauren Gillis sold 19,500 shares of the business’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 transaction, the insider now owns 197,817 shares in the company, valued at $8,897,808.66. The disclosure for this sale can be found here. Insiders have bought a total of 130,000 shares of company stock worth $3,250,000 over the last 90 days. 8.70% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors L.P. increased its stake in shares of Athene by 21.1% during the 4th quarter. Natixis Advisors L.P. now owns 65,488 shares of the insurance provider’s stock worth $2,608,000 after purchasing an additional 11,425 shares during the last quarter. MYDA Advisors LLC acquired a new position in shares of Athene during the 1st quarter worth about $490,000. ICONIQ Capital LLC acquired a new position in shares of Athene during the 1st quarter worth about $240,000. Principal Financial Group Inc. increased its stake in shares of Athene by 2,994.9% during the 4th quarter. Principal Financial Group Inc. now owns 619,289 shares of the insurance provider’s stock worth $24,667,000 after purchasing an additional 599,279 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of Athene by 252.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 152,530 shares of the insurance provider’s stock worth $6,075,000 after purchasing an additional 109,291 shares during the last quarter. Institutional investors own 71.88% 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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