Morgan Stanley Lowers Athene (NYSE:ATH) Price Target to $56.00

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Athene (NYSE:ATH) had its price target lowered by Morgan Stanley from $58.00 to $56.00 in a research report report published on Wednesday, Stock Target Advisor reports. Morgan Stanley currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also weighed in on the stock. Credit Suisse Group lowered their target price on shares of Athene from $67.00 to $57.00 and set an outperform rating for the company in a research note on Tuesday, May 21st. Zacks Investment Research raised shares of DLH from a sell rating to a hold rating in a research note on Tuesday, July 9th. Finally, Wells Fargo & Co lowered shares of Mylan from an outperform rating to a market perform rating and lowered their price objective for the company from $33.00 to $22.00 in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Athene currently has an average rating of Buy and an average price target of $55.80.

Shares of ATH stock opened at $43.10 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.38 and a beta of 0.98. The stock’s 50-day moving average is $42.88. Athene has a 1-year low of $37.20 and a 1-year high of $53.92.

Athene (NYSE:ATH) last announced its earnings results on Tuesday, May 7th. The insurance provider reported $1.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.20). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Athene had a return on equity of 13.32% and a net margin of 14.36%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. As a group, sell-side analysts anticipate that Athene will post 7.07 EPS for the current fiscal year.

In other news, insider Frank Lauren Gillis sold 19,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $44.98, for a total value of $877,110.00. Following the completion of the transaction, the insider now owns 197,817 shares of the company’s stock, valued at $8,897,808.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marc A. Beilinson bought 10,000 shares of Athene stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $250,000.00. Following the acquisition, the director now owns 187,817 shares of the company’s stock, valued at $4,695,425. The disclosure for this purchase can be found here. In the last three months, insiders bought 130,000 shares of company stock valued at $3,250,000. Insiders own 8.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC bought a new stake in Athene in the 1st quarter valued at $27,000. Truvestments Capital LLC bought a new stake in Athene in the 1st quarter valued at $51,000. Bremer Bank National Association bought a new stake in Athene in the 1st quarter valued at $64,000. Advisors Asset Management Inc. increased its holdings in Athene by 70.9% in the 1st quarter. Advisors Asset Management Inc. now owns 2,362 shares of the insurance provider’s stock valued at $96,000 after acquiring an additional 980 shares during the last quarter. Finally, NumerixS Investment Technologies Inc increased its holdings in Athene by 14.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,400 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 300 shares during the last quarter. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

Athene Company 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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Analyst Recommendations for Athene (NYSE:ATH)

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