Athene Holding Ltd. (ATH) Expected to Post Quarterly Sales of $873.10 Million
Analysts predict that Athene Holding Ltd. (NYSE:ATH) will report sales of $873.10 million for the current quarter, according to Zacks. Three analysts have made estimates for Athene Holding’s earnings, with the highest sales estimate coming in at $908.29 million and the lowest estimate coming in at $854.00 million. The company is scheduled to issue its next earnings report on Wednesday, November 8th.
On average, analysts expect that Athene Holding will report full year sales of $873.10 million for the current fiscal year, with estimates ranging from $3.41 billion to $3.53 billion. For the next financial year, analysts anticipate that the company will post sales of $3.88 billion per share, with estimates ranging from $3.44 billion to $4.17 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Athene Holding.
Athene Holding (NYSE:ATH) last announced its quarterly earnings data on Wednesday, August 9th. The insurance provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.37. The firm had revenue of $821 million for the quarter, compared to analysts’ expectations of $810.07 million.
ATH has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Athene Holding in a research note on Friday, August 11th. Deutsche Bank AG reissued a “hold” rating and set a $59.00 price target (up from $58.00) on shares of Athene Holding in a research note on Monday, May 15th. Wells Fargo & Company raised Athene Holding to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered Athene Holding from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Sandler O’Neill raised Athene Holding from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Athene Holding has a consensus rating of “Buy” and a consensus target price of $57.50.
Athene Holding (NYSE:ATH) opened at 50.91 on Friday. Athene Holding has a one year low of $43.25 and a one year high of $55.10. The company’s 50 day moving average price is $51.66 and its 200-day moving average price is $51.25. The stock has a market capitalization of $10.19 billion and a PE ratio of 8.23.
In other Athene Holding 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 transaction of $372,538,670.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Tealwood Asset Management Inc. raised its position in Athene Holding by 4.2% during the second quarter. Tealwood Asset Management Inc. now owns 27,945 shares of the insurance provider’s stock valued at $1,386,000 after purchasing an additional 1,130 shares during the period. Bronfman E.L. Rothschild L.P. purchased a new stake in Athene Holding during the first quarter valued at approximately $117,000. Nordea Investment Management AB purchased a new stake in Athene Holding during the second quarter valued at approximately $120,000. Quantbot Technologies LP purchased a new stake in Athene Holding during the first quarter valued at approximately $126,000. Finally, LS Investment Advisors LLC purchased a new stake in Athene Holding during the second quarter valued at approximately $144,000. Institutional investors and hedge funds own 47.52% of the company’s stock.
Athene Holding Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Athene Holding Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Athene Holding Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.