Zacks: Brokerages Anticipate Athene Holding Ltd (ATH) Will Post Quarterly Sales of $1.16 Billion

Brokerages expect Athene Holding Ltd (NYSE:ATH) to report $1.16 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Athene’s earnings. Athene posted sales of $861.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 34.7%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that Athene will report full year sales of $4.19 billion for the current fiscal year. For the next financial year, analysts anticipate that the business will report sales of $5.04 billion, with estimates ranging from $5.00 billion to $5.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Athene.

Athene (NYSE:ATH) last announced its earnings results on Wednesday, October 31st. The insurance provider reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.21. Athene had a return on equity of 14.09% and a net margin of 17.65%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $1.18 earnings per share. The firm’s revenue was up 30.5% on a year-over-year basis.

ATH has been the topic of a number of research reports. Morgan Stanley lowered their target price on Athene from $64.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 13th. Wells Fargo & Co set a $67.00 target price on Athene and gave the stock a “buy” rating in a research report on Wednesday, October 31st. SunTrust Banks reaffirmed a “buy” rating and set a $59.00 target price on shares of Athene in a research report on Monday, November 5th. Bank of America reaffirmed a “buy” rating and set a $67.00 target price on shares of Athene in a research report on Wednesday, October 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $68.00 target price on shares of Athene in a research report on Friday, September 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $61.00.

Shares of NYSE:ATH opened at $43.49 on Monday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.11. Athene has a twelve month low of $42.70 and a twelve month high of $53.92. The company has a market cap of $8.69 billion, a PE ratio of 7.68, a PEG ratio of 0.53 and a beta of 0.79.

In related news, insider Frank Lauren Gillis sold 100,000 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $51.71, for a total value of $5,171,000.00. Following the completion of the sale, the insider now directly owns 289,638 shares of the company’s stock, valued at approximately $14,977,180.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Grant Kvalheim sold 85,000 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $51.06, for a total value of $4,340,100.00. Following the completion of the sale, the insider now directly owns 1,587,657 shares of the company’s stock, valued at $81,065,766.42. The disclosure for this sale can be found here. Insiders sold a total of 186,000 shares of company stock valued at $9,561,140 over the last three months. 8.46% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATH. Teacher Retirement System of Texas raised its position in Athene by 283.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,996,436 shares of the insurance provider’s stock valued at $87,524,000 after buying an additional 1,475,608 shares during the last quarter. Man Group plc grew its stake in Athene by 115.1% in the 3rd quarter. Man Group plc now owns 1,615,864 shares of the insurance provider’s stock valued at $83,475,000 after purchasing an additional 864,680 shares during the period. Dimensional Fund Advisors LP grew its stake in Athene by 511.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 982,333 shares of the insurance provider’s stock valued at $43,063,000 after purchasing an additional 821,717 shares during the period. Panagora Asset Management Inc. grew its stake in Athene by 49.6% in the 3rd quarter. Panagora Asset Management Inc. now owns 2,122,027 shares of the insurance provider’s stock valued at $109,624,000 after purchasing an additional 703,092 shares during the period. Finally, BlackRock Inc. grew its stake in Athene by 7.5% in the 2nd quarter. BlackRock Inc. now owns 9,098,796 shares of the insurance provider’s stock valued at $398,891,000 after purchasing an additional 632,619 shares during the period. 70.48% of the stock is owned by institutional investors and hedge funds.

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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