Analysts Anticipate Athene Holding Ltd (NYSE:ATH) Will Announce Quarterly Sales of $1.45 Billion

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Equities research analysts forecast that Athene Holding Ltd (NYSE:ATH) will post sales of $1.45 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Athene’s earnings. The lowest sales estimate is $1.35 billion and the highest is $1.54 billion. Athene posted sales of $1.29 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.4%. The company is expected to issue its next quarterly earnings results on Tuesday, November 3rd.

On average, analysts expect that Athene will report full-year sales of $5.07 billion for the current year, with estimates ranging from $4.90 billion to $5.17 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.85 billion, with estimates ranging from $5.54 billion to $6.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Athene.

Athene (NYSE:ATH) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.59. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $940.68 million. Athene had a return on equity of 7.93% and a net margin of 13.50%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS.

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Athene from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Royal Bank of Canada restated a “hold” rating and issued a $34.00 target price on shares of Athene in a research note on Monday, July 20th. BMO Capital Markets boosted their price target on Athene from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. SunTrust Banks cut their price objective on Athene from $61.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, UBS Group lifted their target price on Athene from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Athene currently has an average rating of “Buy” and a consensus price target of $43.60.

ATH stock traded up $1.79 during midday trading on Thursday, reaching $37.29. 1,525,600 shares of the company’s stock traded hands, compared to its average volume of 1,450,516. The stock has a market cap of $7.24 billion, a P/E ratio of 16.21 and a beta of 1.40. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $35.02 and its 200 day moving average is $31.36. Athene has a 52-week low of $13.37 and a 52-week high of $50.43.

In related news, insider Grant Kvalheim acquired 40,000 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the insider now owns 40,000 shares in the company, valued at approximately $1,000,000. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Athene by 39.8% during the 1st quarter. FMR LLC now owns 60,261 shares of the insurance provider’s stock valued at $2,458,000 after acquiring an additional 17,160 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of Athene by 9.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 166,866 shares of the insurance provider’s stock valued at $6,809,000 after buying an additional 14,336 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Athene by 17.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,591 shares of the insurance provider’s stock worth $263,000 after buying an additional 1,611 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Athene by 22.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 480,359 shares of the insurance provider’s stock valued at $11,924,000 after buying an additional 89,355 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Athene by 69.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 21,948 shares of the insurance provider’s stock valued at $545,000 after buying an additional 8,958 shares in the last quarter. 92.30% of the stock is owned by institutional investors.

About Athene

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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