Meritage Portfolio Management lifted its stake in shares of Athene Holding Ltd (NYSE:ATH) by 48.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,795 shares of the insurance provider’s stock after purchasing an additional 30,155 shares during the quarter. Meritage Portfolio Management’s holdings in Athene were worth $4,742,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Brown Advisory Inc. acquired a new stake in shares of Athene during the 1st quarter worth approximately $241,000. Summit Trail Advisors LLC grew its holdings in Athene by 20.2% in the 2nd quarter. Summit Trail Advisors LLC now owns 6,124 shares of the insurance provider’s stock worth $268,000 after buying an additional 1,028 shares in the last quarter. Comerica Bank grew its holdings in Athene by 29.9% in the 2nd quarter. Comerica Bank now owns 6,062 shares of the insurance provider’s stock worth $270,000 after buying an additional 1,395 shares in the last quarter. Calamos Advisors LLC bought a new position in Athene in the 3rd quarter worth approximately $281,000. Finally, IFM Investors Pty Ltd bought a new position in Athene in the 3rd quarter worth approximately $337,000. Institutional investors and hedge funds own 67.27% of the company’s stock.
A number of equities analysts recently issued reports on ATH shares. Zacks Investment Research raised Athene from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, July 4th. Barclays decreased their price objective on Athene from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, July 9th. Citigroup reissued a “hold” rating on shares of Athene in a report on Wednesday, July 11th. Wells Fargo & Co reissued a “buy” rating and issued a $65.00 price objective on shares of Athene in a report on Friday, August 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $58.00 price objective on shares of Athene in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.33.
Athene (NYSE:ATH) last issued its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.21. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.15 billion. Athene had a return on equity of 12.54% and a net margin of 15.58%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS. Equities research analysts forecast that Athene Holding Ltd will post 6.02 earnings per share for the current year.
In other Athene news, insider Frank Lauren Gillis sold 1,000 shares of the stock in a transaction on Thursday, October 11th. The stock was 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 directly owns 218,638 shares of the company’s stock, valued at approximately $10,940,645.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hope S. Taitz sold 10,000 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $49.90, for a total value of $499,000.00. Following the transaction, the director now directly owns 61,269 shares of the company’s stock, valued at $3,057,323.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 469,884 shares of company stock valued at $23,791,629. 8.46% of the stock is currently owned by corporate insiders.
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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