Athene (ATH) Rating Lowered to Hold at Zacks Investment Research

Athene (NYSE:ATH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Athene Holding Ltd. is a retirement services company. Its products and services include Fixed and fixed indexed annuity products, Reinsurance services offered to third-party annuity providers and Institutional products, such as funding agreements. Athene Holding Ltd. is based in Pembroke, Bermuda. “

Other equities research analysts also recently issued research reports about the stock. Scotiabank reissued a “hold” rating on shares of Athene in a research report on Monday, December 4th. Royal Bank of Canada reissued a “buy” rating on shares of Athene in a research report on Monday, September 25th. Goldman Sachs Group began coverage on shares of Athene in a research report on Wednesday, October 18th. They set a “buy” rating and a $63.00 price objective for the company. Wells Fargo & Co set a $60.00 price objective on shares of Athene and gave the stock a “buy” rating in a research report on Monday, December 4th. Finally, UBS Group increased their price objective on shares of Athene from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $60.87.

Shares of Athene (NYSE:ATH) traded down $0.81 during trading hours on Wednesday, reaching $50.90. 1,046,300 shares of the company’s stock traded hands, compared to its average volume of 807,550. Athene has a 1 year low of $45.15 and a 1 year high of $55.22. The company has a market capitalization of $10,180.00 and a P/E ratio of 7.12.

Athene (NYSE:ATH) last issued its quarterly earnings data on Monday, November 6th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.06. Athene had a net margin of 22.66% and a return on equity of 13.31%. The company had revenue of $863.00 million during the quarter, compared to the consensus estimate of $852.85 million. equities research analysts predict that Athene will post 5.17 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in ATH. Nordea Investment Management AB acquired a new position in Athene during the second quarter worth $120,000. Envestnet Asset Management Inc. boosted its holdings in Athene by 661.1% during the third quarter. Envestnet Asset Management Inc. now owns 3,014 shares of the insurance provider’s stock worth $162,000 after purchasing an additional 2,618 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Athene by 147.0% during the third quarter. Public Employees Retirement Association of Colorado now owns 3,379 shares of the insurance provider’s stock worth $182,000 after purchasing an additional 2,011 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Athene during the third quarter worth $200,000. Finally, Aperio Group LLC acquired a new position in Athene during the second quarter worth $209,000. Institutional investors and hedge funds own 48.38% of the company’s stock.

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About Athene

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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