Athene Holding Ltd (NYSE:ATH) Sees Large Decrease in Short Interest

Athene Holding Ltd (NYSE:ATH) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 4,398,200 shares, a drop of 20.2% from the June 30th total of 5,513,300 shares. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.8% of the shares of the company are sold short.

In related news, insider Grant Kvalheim bought 40,000 shares of Athene stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the insider now owns 40,000 shares in the company, valued at $1,000,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Lauren Gillis sold 19,500 shares of the 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 sale, the insider now owns 177,817 shares of the company’s stock, valued at approximately $7,582,116.88. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 130,000 shares of company stock worth $3,250,000. 8.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ATH. Millennium Management LLC increased its holdings in shares of Athene by 80.9% during the fourth quarter. Millennium Management LLC now owns 111,926 shares of the insurance provider’s stock worth $4,458,000 after buying an additional 50,038 shares in the last quarter. FMR LLC acquired a new stake in shares of Athene during the fourth quarter worth approximately $1,716,000. Geode Capital Management LLC increased its holdings in shares of Athene by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 1,293,529 shares of the insurance provider’s stock worth $51,483,000 after buying an additional 108,654 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Athene by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 17,133 shares of the insurance provider’s stock worth $699,000 after buying an additional 263 shares in the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Athene by 61.9% during the first quarter. DNB Asset Management AS now owns 71,214 shares of the insurance provider’s stock worth $2,906,000 after buying an additional 27,221 shares in the last quarter. 71.52% of the stock is owned by institutional investors.

Shares of ATH opened at $39.20 on Wednesday. The company has a market capitalization of $7.48 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.36 and a beta of 0.98. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.08. Athene has a 12 month low of $36.00 and a 12 month high of $53.92. The business’s 50-day simple moving average is $41.83.

Athene (NYSE:ATH) last posted its quarterly earnings data on Monday, August 5th. The insurance provider reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.14. The company 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 revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. On average, analysts expect that Athene will post 7.01 earnings per share for the current fiscal year.

Several research firms recently weighed in 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. Morgan Stanley reduced their target price 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. Royal Bank of Canada reiterated a “hold” rating on shares of Athene in a research note on Thursday, July 18th. Bank of America reiterated a “buy” rating and issued a $49.00 target price on shares of Athene in a research note on Monday, August 5th. Finally, Credit Suisse Group reduced their target price 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.88.

About Athene

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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