In a report released yesterday, Elyse Greenspan from Wells Fargo maintained a Buy rating on Athene Holding Ltd (NYSE: ATH), with a price target of $67. The company’s shares closed yesterday at $53.22, close to its 52-week high of $55.22.
Greenspan noted:
“We are raising our 2018, 2019 and 2020 estimates to $6.20, $7.25 and $7.75 from $6.05, $6.80 and $7.20, previously to reflect lower other liability costs, operating expenses, and taxes. Our price target is $67 (from $65). The shares traded up on the meeting (+3.2% versus the +0.8% in the S&P 500) due to its bullish outlook on both the organic (improved ratings have provided more opportunities) and inorganic front ($100B inorganic pipeline).”
According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 6.6% and a 71.0% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Renaissancere Holdings Ltd, and United Insurance Holdings.
Athene Holding Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $59.50.
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Athene Holding Ltd’s market cap is currently $10.63B and has a P/E ratio of 8.29. The company has a Price to Book ratio of 1.25.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.
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Athene Holding Ltd. is engaged in providing retirement services. It issues and reinsures retirement savings products and institutional products. The company operates corporate activities and German operations, which comprises of participating long-duration saving products.
