Keefe, Bruyette & Woods Reaffirms Buy Rating for Athene (ATH)

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Athene (NYSE:ATH)‘s stock had its “buy” rating reissued by analysts at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday. They currently have a $65.00 price target on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 59.24% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley increased their target price on shares of Athene from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, September 21st. Bank of America reissued a “buy” rating and set a $67.00 target price on shares of Athene in a research note on Wednesday, October 3rd. SunTrust Banks reissued a “buy” rating and set a $59.00 target price on shares of Athene in a research note on Monday, November 5th. Finally, Wells Fargo & Co set a $67.00 target price on shares of Athene and gave the stock a “buy” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.46.

Shares of NYSE ATH opened at $40.82 on Wednesday. The firm has a market cap of $8.05 billion, a P/E ratio of 7.21, a P/E/G ratio of 0.46 and a beta of 0.78. Athene has a 12-month low of $39.59 and a 12-month high of $53.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.26 and a current ratio of 0.26.

Athene (NYSE:ATH) last issued its earnings results on Wednesday, October 31st. 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. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.15 billion. Athene had a net margin of 17.65% and a return on equity of 14.09%. Athene’s revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. Equities research analysts predict that Athene will post 6.22 earnings per share for the current fiscal year.

In other Athene news, insider Frank Lauren Gillis sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $50.04, for a total value of $50,040.00. Following the transaction, the insider now directly owns 218,638 shares of the company’s stock, valued at $10,940,645.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.46% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Csenge Advisory Group purchased a new stake in shares of Athene in the third quarter valued at about $202,000. WINTON GROUP Ltd purchased a new stake in shares of Athene in the third quarter valued at about $213,000. Bank of Hawaii purchased a new stake in shares of Athene in the third quarter valued at about $230,000. Cadence Capital Management LLC purchased a new stake in shares of Athene in the third quarter valued at about $266,000. Finally, Summit Trail Advisors LLC raised its holdings in shares of Athene by 20.2% in the second quarter. Summit Trail Advisors LLC now owns 6,124 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 1,028 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Athene (NYSE:ATH)

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