Morgan Stanley Raises Athene (ATH) Price Target to $64.00
Athene (NYSE:ATH) had its price objective boosted by Morgan Stanley from $61.00 to $64.00 in a report released on Friday, September 21st. The firm currently has an overweight rating on the insurance provider’s stock.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Athene from a hold rating to a buy rating and set a $50.00 price target on the stock in a report on Wednesday, July 4th. Royal Bank of Canada reissued a buy rating and issued a $58.00 price target on shares of Athene in a report on Friday, August 3rd. Wells Fargo & Co reaffirmed a buy rating and set a $65.00 target price on shares of Athene in a report on Friday, August 3rd. Barclays lowered their target price on shares of Athene from $51.00 to $47.00 and set an equal weight rating on the stock in a report on Monday, July 9th. Finally, Citigroup reaffirmed a hold rating on shares of Athene in a report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $61.31.
ATH stock traded up $0.17 during trading hours on Friday, reaching $48.56. 623,798 shares of the stock were exchanged, compared to its average volume of 1,310,872. Athene has a 12 month low of $43.09 and a 12 month high of $55.04. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.12. The stock has a market cap of $10.32 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 0.58 and a beta of 0.33.
In other news, Director Hope S. Taitz sold 10,000 shares of Athene stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $49.90, for a total transaction of $499,000.00. Following the transaction, the director now owns 61,269 shares in the company, valued at $3,057,323.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frank Lauren Gillis sold 1,000 shares of the business’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $50.04, for a total transaction of $50,040.00. Following the completion of the transaction, the insider now owns 218,638 shares in the company, valued at approximately $10,940,645.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 469,884 shares of company stock worth $23,791,629. 8.46% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System increased its position in shares of Athene by 230.7% during the first quarter. California Public Employees Retirement System now owns 8,508,869 shares of the insurance provider’s stock worth $403,770,000 after acquiring an additional 5,936,184 shares in the last quarter. BlackRock Inc. increased its position in shares of Athene by 34.6% during the first quarter. BlackRock Inc. now owns 8,466,177 shares of the insurance provider’s stock worth $404,767,000 after acquiring an additional 2,176,155 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Athene by 466.5% during the first quarter. Point72 Asset Management L.P. now owns 2,089,189 shares of the insurance provider’s stock worth $99,884,000 after acquiring an additional 1,720,389 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Athene by 283.3% during the second quarter. Teacher Retirement System of Texas now owns 1,996,436 shares of the insurance provider’s stock worth $87,524,000 after purchasing an additional 1,475,608 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Athene by 511.6% during the second quarter. Dimensional Fund Advisors LP now owns 982,333 shares of the insurance provider’s stock worth $43,063,000 after purchasing an additional 821,717 shares during the last quarter. 67.76% of the stock is 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, 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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