Phoenix Holdings Ltd. Acquires New Stake in Athene Holding Ltd (NYSE:ATH)

Phoenix Holdings Ltd. acquired a new stake in Athene Holding Ltd (NYSE:ATH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 542,745 shares of the insurance provider’s stock, valued at approximately $25,349,000. Phoenix Holdings Ltd. owned about 0.29% of Athene at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ATH. AQR Capital Management LLC increased its holdings in shares of Athene by 4.2% in the fourth quarter. AQR Capital Management LLC now owns 6,668,043 shares of the insurance provider’s stock worth $313,598,000 after purchasing an additional 267,076 shares during the period. Lakewood Capital Management LP grew its position in Athene by 42.9% in the fourth quarter. Lakewood Capital Management LP now owns 2,896,149 shares of the insurance provider’s stock worth $136,206,000 after acquiring an additional 870,000 shares in the last quarter. State of Michigan Retirement System grew its position in Athene by 571.4% in the fourth quarter. State of Michigan Retirement System now owns 2,350,000 shares of the insurance provider’s stock worth $110,521,000 after acquiring an additional 2,000,000 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Athene by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,813,827 shares of the insurance provider’s stock worth $85,304,000 after acquiring an additional 71,838 shares in the last quarter. Finally, CDAM UK Ltd grew its position in Athene by 20.5% in the third quarter. CDAM UK Ltd now owns 1,563,254 shares of the insurance provider’s stock worth $65,750,000 after acquiring an additional 266,235 shares in the last quarter. Institutional investors and hedge funds own 68.99% of the company’s stock.

In other news, Director Lawrence Ruisi sold 8,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $47.83, for a total transaction of $382,640.00. Following the completion of the sale, the director now directly owns 52,125 shares in the company, valued at $2,493,138.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Martin P. Klein bought 4,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $25.25 per share, with a total value of $101,000.00. Following the completion of the acquisition, the chief financial officer now owns 142,449 shares of the company’s stock, valued at approximately $3,596,837.25. The disclosure for this purchase can be found here. Corporate insiders own 7.70% of the company’s stock.

Several research analysts recently issued reports on the stock. Wells Fargo & Co upped their target price on shares of Athene from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Credit Suisse Group upped their price target on shares of Athene from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada lowered shares of Athene from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $60.00 to $33.00 in a research report on Friday, March 20th. TheStreet lowered shares of Athene from a “b” rating to a “c+” rating in a research report on Monday, March 9th. Finally, Zacks Investment Research lowered shares of Athene from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.18.

NYSE ATH traded up $2.24 during trading on Thursday, hitting $27.72. 4,958,055 shares of the company’s stock traded hands, compared to its average volume of 2,326,612. The stock has a fifty day moving average of $37.76 and a two-hundred day moving average of $42.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.11 and a quick ratio of 0.11. Athene Holding Ltd has a 12-month low of $13.37 and a 12-month high of $50.43. The firm has a market cap of $3.73 billion, a P/E ratio of 2.45, a PEG ratio of 0.30 and a beta of 0.96.

Athene (NYSE:ATH) last posted its earnings results on Tuesday, February 18th. The insurance provider reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.53. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Athene had a net margin of 13.50% and a return on equity of 10.56%. Athene’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, analysts expect that Athene Holding Ltd will post 7.13 earnings per share for the current fiscal year.

Athene Profile

Athene Holding Ltd., a retirement services company, issues, reinsures, and acquires retirement savings products in the United States and Bermuda. It offers fixed deferred, immediate, and payout annuities; and funding agreements and pension risk transfer products to institutional investors. The company's products are designed for individuals and institutions seeking to fund retirement needs.

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Institutional Ownership by Quarter for Athene (NYSE:ATH)

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