PNC Financial Services Group Inc. increased its stake in Athene Holding Ltd (NYSE:ATH) by 53.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,528 shares of the insurance provider’s stock after acquiring an additional 5,063 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Athene were worth $751,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Athene by 31.7% in the third quarter. Janus Henderson Group PLC now owns 20,109 shares of the insurance provider’s stock worth $1,039,000 after acquiring an additional 4,844 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Athene in the third quarter worth approximately $12,828,000. Rational Advisors LLC acquired a new position in shares of Athene in the third quarter worth approximately $7,274,000. Alliancebernstein L.P. lifted its stake in shares of Athene by 37.0% in the third quarter. Alliancebernstein L.P. now owns 127,051 shares of the insurance provider’s stock worth $6,563,000 after acquiring an additional 34,335 shares during the period. Finally, LaSalle Street Capital Management LLC acquired a new position in shares of Athene in the third quarter worth approximately $1,200,000. 70.48% of the stock is currently owned by institutional investors.
In other Athene news, insider Grant Kvalheim sold 85,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $51.06, for a total value of $4,340,100.00. Following the transaction, the insider now directly owns 1,587,657 shares of the company’s stock, valued at $81,065,766.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank Lauren Gillis sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $51.71, for a total value of $5,171,000.00. Following the completion of the transaction, the insider now directly owns 289,638 shares in the company, valued at $14,977,180.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,000 shares of company stock worth $9,561,140. Insiders own 8.46% of the company’s stock.
Athene (NYSE:ATH) last issued its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.21. Athene had a return on equity of 14.09% and a net margin of 17.65%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. The company’s revenue was up 30.5% compared to the same quarter last year. Equities analysts predict that Athene Holding Ltd will post 6.22 earnings per share for the current year.
A number of equities analysts recently commented on ATH shares. Wells Fargo & Co set a $63.00 price objective on Athene and gave the stock a “buy” rating in a research note on Monday, December 10th. Morgan Stanley cut their price objective on Athene from $64.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 13th. SunTrust Banks reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Athene in a research note on Monday, November 5th. Bank of America reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Athene in a research note on Wednesday, October 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of Athene in a research note on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Athene presently has a consensus rating of “Buy” and an average price target of $60.69.
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Athene Holding Ltd., a retirement services company, issues, reinsures, and acquires retirement savings products in the United States, the District of Columbia, and Germany. It offers fixed deferred, immediate, and payout annuities; and funding agreements and pension risk transfer products to institutional investors.
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