Morgan Stanley Raises Athene (NYSE:ATH) Price Target to $36.00
Athene (NYSE:ATH) had its price objective raised by Morgan Stanley from $32.00 to $36.00 in a research note published on Monday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the insurance provider’s stock.
ATH has been the subject of a number of other reports. Credit Suisse Group cut their target price on shares of Athene from $59.00 to $46.00 and set an outperform rating for the company in a report on Monday, April 27th. Royal Bank of Canada reaffirmed a hold rating on shares of Athene in a research note on Sunday, May 10th. Zacks Investment Research lowered shares of Athene from a buy rating to a hold rating in a research note on Thursday, April 2nd. Piper Sandler dropped their price objective on shares of Athene from $45.00 to $38.00 and set an overweight rating for the company in a research note on Friday, April 3rd. Finally, UBS Group dropped their price objective on shares of Athene from $49.00 to $47.00 and set a buy rating for the company in a research note on Friday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Athene presently has a consensus rating of Buy and a consensus target price of $43.18.
ATH stock opened at $30.00 on Monday. The firm has a fifty day moving average price of $30.78 and a 200 day moving average price of $34.83. Athene has a fifty-two week low of $13.37 and a fifty-two week high of $50.43. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $6.09 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.28 and a beta of 1.38.
In other Athene news, insider Grant Kvalheim bought 40,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the insider now owns 40,000 shares in the company, valued at $1,000,000. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 7.60% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Athene in the first quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Athene in the fourth quarter valued at about $80,000. Toronto Dominion Bank raised its holdings in shares of Athene by 722.8% in the first quarter. Toronto Dominion Bank now owns 3,316 shares of the insurance provider’s stock valued at $82,000 after acquiring an additional 2,913 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Athene by 40.5% in the first quarter. Meeder Asset Management Inc. now owns 3,317 shares of the insurance provider’s stock valued at $83,000 after acquiring an additional 956 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Athene by 75.5% in the first quarter. US Bancorp DE now owns 4,720 shares of the insurance provider’s stock valued at $117,000 after acquiring an additional 2,031 shares in the last quarter.
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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