Engineers Gate Manager LP Invests $915,000 in Athene Holding Ltd. (ATH) Stock
Engineers Gate Manager LP purchased a new stake in shares of Athene Holding Ltd. (NYSE:ATH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,003 shares of the insurance provider’s stock, valued at approximately $915,000.
A number of other hedge funds have also recently bought and sold shares of the business. Nordea Investment Management AB purchased a new stake in shares of Athene in the second quarter worth about $120,000. Daiwa Securities Group Inc. purchased a new stake in shares of Athene in the second quarter worth about $149,000. Envestnet Asset Management Inc. boosted its position in shares of Athene by 661.1% in the third quarter. Envestnet Asset Management Inc. now owns 3,014 shares of the insurance provider’s stock worth $162,000 after buying an additional 2,618 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of Athene by 147.0% in the third quarter. Public Employees Retirement Association of Colorado now owns 3,379 shares of the insurance provider’s stock worth $182,000 after buying an additional 2,011 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of Athene in the third quarter worth about $200,000. 48.41% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on ATH. Zacks Investment Research raised Athene from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, October 10th. Goldman Sachs Group began coverage on Athene in a research report on Wednesday, October 18th. They issued a “buy” rating and a $63.00 target price for the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Athene in a research report on Monday, September 25th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Athene in a research report on Wednesday, November 1st. Finally, UBS boosted their price target on Athene from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, November 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Athene presently has an average rating of “Buy” and a consensus price target of $59.80.
Athene (NYSE:ATH) last released its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.06. Athene had a return on equity of 13.31% and a net margin of 22.66%. The business had revenue of $863.00 million for the quarter, compared to analysts’ expectations of $852.85 million. research analysts expect that Athene Holding Ltd. will post 5.17 earnings per share for the current fiscal year.
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Athene Company 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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