Athene (ATH) Shares Gap Up After Strong Earnings

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Athene Holding Ltd (NYSE:ATH) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $44.56, but opened at $45.72. Athene shares last traded at $46.12, with a volume of 2761716 shares traded.

The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.21. Athene had a return on equity of 12.54% and a net margin of 15.58%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. The business’s revenue was up 30.5% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Athene from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, July 4th. Bank of America reaffirmed a “buy” rating and issued a $67.00 target price on shares of Athene in a report on Wednesday, October 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $68.00 target price on shares of Athene in a report on Friday, September 21st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $58.00 target price on shares of Athene in a report on Friday, August 3rd. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $65.00 target price on shares of Athene in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.33.

In other Athene news, insider Frank Lauren Gillis sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $50.04, for a total transaction of $50,040.00. Following the sale, the insider now directly owns 218,638 shares of the company’s stock, valued at $10,940,645.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hope S. Taitz sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $49.90, for a total value of $499,000.00. Following the sale, the director now directly owns 61,269 shares in the company, valued at $3,057,323.10. The disclosure for this sale can be found here. Insiders have sold 469,884 shares of company stock worth $23,791,629 over the last three months. 8.46% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Brown Advisory Inc. bought a new stake in Athene during the first quarter worth approximately $241,000. Calamos Advisors LLC bought a new stake in Athene during the third quarter worth approximately $281,000. Comerica Bank increased its stake in Athene by 29.9% during the second quarter. Comerica Bank now owns 6,062 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 1,395 shares during the last quarter. Summit Trail Advisors LLC increased its stake in Athene by 20.2% during the second quarter. Summit Trail Advisors LLC now owns 6,124 shares of the insurance provider’s stock worth $268,000 after acquiring an additional 1,028 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in shares of Athene during the third quarter valued at approximately $337,000. 67.27% of the stock is currently owned by institutional investors.

The stock has a market cap of $9.02 billion, a PE ratio of 8.14, a P/E/G ratio of 0.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.13 and a quick ratio of 0.13.

Athene Company Profile (NYSE:ATH)

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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