Athene Holding Ltd. (ATH) Expected to Announce Quarterly Sales of $810.41 Million
Equities analysts expect Athene Holding Ltd. (NYSE:ATH) to announce sales of $810.41 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Athene Holding’s earnings. The highest sales estimate is $817.22 million and the lowest is $800.00 million. The company is scheduled to report its next quarterly earnings results on Wednesday, August 9th.
According to Zacks, analysts expect that Athene Holding will report full year sales of $810.41 million for the current fiscal year, with estimates ranging from $3.27 billion to $3.32 billion. For the next year, analysts anticipate that the business will report sales of $3.91 billion per share, with estimates ranging from $3.35 billion to $4.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Athene Holding.
Athene Holding (NYSE:ATH) last announced its quarterly earnings results on Wednesday, May 10th. The insurance provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.34. The company had revenue of $786 million for the quarter, compared to analysts’ expectations of $785.94 million. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS.
Several research firms have recently issued reports on ATH. Zacks Investment Research upgraded shares of Athene Holding from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, May 16th. Keefe, Bruyette & Woods upgraded shares of Athene Holding from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $56.00 to $58.00 in a report on Monday, April 3rd. Credit Suisse Group upgraded shares of Athene Holding from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $66.00 in a report on Monday, June 19th. Royal Bank Of Canada upped their price objective on shares of Athene Holding from $54.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, March 17th. Finally, Bank of America Corporation restated a “buy” rating and set a $63.00 price objective (up previously from $61.00) on shares of Athene Holding in a report on Monday, May 15th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.85.
Athene Holding (NYSE ATH) opened at 49.27 on Friday. Athene Holding has a 12-month low of $43.25 and a 12-month high of $55.10. The stock has a market cap of $5.01 billion and a P/E ratio of 8.78. The company has a 50 day moving average of $50.12 and a 200-day moving average of $50.06.
In related news, major shareholder Apollo Management Holdings Gp, sold 7,602,830 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $49.00, for a total value of $372,538,670.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 10.60% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Serengeti Asset Management LP purchased a new stake in shares of Athene Holding during the fourth quarter worth approximately $64,602,000. Schroder Investment Management Group purchased a new stake in shares of Athene Holding during the first quarter worth approximately $36,993,000. Henderson Group PLC purchased a new stake in shares of Athene Holding during the first quarter worth approximately $12,498,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Athene Holding during the first quarter worth approximately $6,049,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Athene Holding during the first quarter worth approximately $42,878,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.
About Athene Holding
Athene Holding Ltd. is an insurance holding company. The Company’s segments include Retirement Services, Corporate and Other. Retirement Services segment consists of the United States and Bermuda operations, which issue and reinsure retirement savings products and institutional products. Retirement Services has retail operations, which provide annuity retirement solutions to its policyholders.
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