Athene (NYSE:ATH) Price Target Cut to $55.00

Athene (NYSE:ATH) had its price objective decreased by Morgan Stanley from $56.00 to $55.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the insurance provider’s stock.

Several other brokerages also recently commented on ATH. Wells Fargo & Co cut their target price on Athene from $53.00 to $50.00 and set an outperform rating for the company in a research note on Tuesday, August 6th. Zacks Investment Research upgraded Athene from a sell rating to a hold rating in a research note on Thursday, August 8th. BMO Capital Markets set a $68.00 target price on Athene and gave the stock a buy rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated a hold rating on shares of Athene in a research note on Thursday, July 18th. Finally, Credit Suisse Group dropped their price target on Athene from $67.00 to $57.00 and set an outperform rating for the company in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Athene has an average rating of Buy and an average price target of $55.75.

Shares of NYSE ATH opened at $38.19 on Tuesday. Athene has a 52 week low of $36.00 and a 52 week high of $53.92. The business has a 50-day simple moving average of $41.00 and a two-hundred day simple moving average of $42.66. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.08. The company has a market cap of $7.16 billion, a P/E ratio of 6.56, a P/E/G ratio of 0.37 and a beta of 0.98.

Athene (NYSE:ATH) last issued its earnings results on Monday, August 5th. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.81 by $0.14. Athene had a return on equity of 12.84% and a net margin of 16.27%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $1.48 EPS. The firm’s revenue was up 21.2% compared to the same quarter last year. Equities research analysts anticipate that Athene will post 7.03 EPS for the current year.

In other news, insider Frank Lauren Gillis sold 19,500 shares of Athene stock in a transaction dated Wednesday, July 10th. The stock was 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 in the company, valued at approximately $7,582,116.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Borden sold 3,000 shares of Athene stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $37.75, for a total value of $113,250.00. Following the sale, the director now owns 29,012 shares of the company’s stock, valued at approximately $1,095,203. The disclosure for this sale can be found here. In the last quarter, insiders have bought 130,000 shares of company stock valued at $3,250,000 and have sold 50,000 shares valued at $1,999,650. Company insiders own 8.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ATH. FMR LLC acquired a new stake in shares of Athene during the fourth quarter valued at approximately $1,716,000. Geode Capital Management LLC raised 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 valued at $51,483,000 after acquiring an additional 108,654 shares during the period. State of Alaska Department of Revenue raised 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 valued at $699,000 after acquiring an additional 263 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Athene by 9.7% during the first quarter. IFM Investors Pty Ltd now owns 8,842 shares of the insurance provider’s stock valued at $361,000 after acquiring an additional 779 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Athene during the first quarter valued at approximately $724,000. Hedge funds and other institutional investors own 73.01% of the company’s stock.

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.

Further Reading: How to build a Fibonacci channel

Analyst Recommendations for Athene (NYSE:ATH)

Receive News & Ratings for Athene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Athene and related companies with MarketBeat.com's FREE daily email newsletter.