Point72 Hong Kong Ltd acquired a new stake in Athene Holding Ltd (NYSE:ATH) during the fourth quarter, HoldingsChannel reports. The fund acquired 5,001 shares of the insurance provider’s stock, valued at approximately $235,000.

Other hedge funds have also made changes to their positions in the company. State of Michigan Retirement System lifted its stake 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 valued at $110,521,000 after buying an additional 2,000,000 shares during the period. Portland Ltd bought a new position in Athene during the fourth quarter worth about $57,163,000. Lakewood Capital Management LP grew its stake 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 valued at $136,206,000 after acquiring an additional 870,000 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Athene in the fourth quarter valued at about $25,937,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Athene in the third quarter worth about $20,137,000. 68.99% of the stock is currently owned by hedge funds and other institutional investors.

In other Athene news, CFO Martin P. Klein purchased 4,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $25.25 per share, with a total value of $101,000.00. Following the purchase, the chief financial officer now directly owns 142,449 shares of the company’s stock, valued at $3,596,837.25. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Ruisi sold 8,000 shares of Athene stock in a transaction that occurred on 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 owns 52,125 shares in the company, valued at $2,493,138.75. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.

A number of equities research analysts have recently commented on ATH shares. Royal Bank of Canada lowered Athene from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $60.00 to $33.00 in a research report on Friday, March 20th. Wells Fargo & Co boosted their price objective on Athene from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. TheStreet cut Athene from a “b” rating to a “c+” rating in a research note on Monday, March 9th. Zacks Investment Research downgraded shares of Athene from a “buy” rating to a “hold” rating in a report on Monday. Finally, Piper Sandler cut their price target on shares of Athene from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Athene has a consensus rating of “Buy” and an average price target of $47.18.

Shares of Athene stock traded up $2.24 during trading on Thursday, reaching $27.72. The stock had a trading volume of 4,958,055 shares, compared to its average volume of 2,326,612. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 2.45, a P/E/G ratio of 0.30 and a beta of 0.96. The stock has a fifty day moving average price of $37.76 and a two-hundred day moving average price of $42.37. Athene Holding Ltd has a 52 week low of $13.37 and a 52 week high of $50.43.

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

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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Institutional Ownership by Quarter for Athene (NYSE:ATH)

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