Franklin Resources Inc. Reduces Stake in Athene Holding Ltd. (ATH)
Franklin Resources Inc. decreased its holdings in Athene Holding Ltd. (NYSE:ATH) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,017,765 shares of the insurance provider’s stock after selling 71,911 shares during the period. Franklin Resources Inc. owned about 1.01% of Athene Holding worth $100,094,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Athene Holding in the 1st quarter valued at approximately $117,000. Quantbot Technologies LP bought a new stake in shares of Athene Holding in the 1st quarter valued at approximately $126,000. LS Investment Advisors LLC bought a new stake in shares of Athene Holding in the 2nd quarter valued at approximately $144,000. Daiwa Securities Group Inc. bought a new stake in shares of Athene Holding in the 2nd quarter valued at approximately $149,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Athene Holding in the 2nd quarter valued at approximately $188,000. Institutional investors own 47.52% of the company’s stock.
Athene Holding Ltd. (ATH) opened at 52.20 on Tuesday. Athene Holding Ltd. has a 52 week low of $43.25 and a 52 week high of $55.10. The company has a 50 day moving average price of $51.69 and a 200-day moving average price of $51.25. The firm has a market capitalization of $10.44 billion and a price-to-earnings ratio of 8.44.
Athene Holding (NYSE:ATH) last released its quarterly earnings results on Wednesday, August 9th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.37. The firm had revenue of $821 million during the quarter, compared to the consensus estimate of $810.07 million. Equities analysts predict that Athene Holding Ltd. will post $5.11 earnings per share for the current year.
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ATH has been the subject of several recent research reports. Zacks Investment Research raised Athene Holding from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, July 11th. Credit Suisse Group raised Athene Holding from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $66.00 in a research report on Monday, June 19th. Deutsche Bank AG reaffirmed a “hold” rating and set a $59.00 target price (up previously from $58.00) on shares of Athene Holding in a research report on Monday, May 15th. Bank of America Corporation reaffirmed a “buy” rating and set a $63.00 target price (up previously from $61.00) on shares of Athene Holding in a research report on Monday, May 15th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $62.00 target price on shares of Athene Holding in a research report on Friday, August 11th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $57.50.
Athene Holding Profile
Athene Holding Ltd. is an insurance holding company. The Company’s segments include Retirement Services, Corporate and Other. Retirement Services segment consists of the United States and Bermuda operations, which issue and reinsure retirement savings products and institutional products. Retirement Services has retail operations, which provide annuity retirement solutions to its policyholders.
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