In a report released today, Elyse Greenspan from Wells Fargo maintained a Buy rating on Athene Holding Ltd (ATH), with a price target of $63. The company’s shares opened today at $40.56, close to its 52-week low of $39.59.
Greenspan noted:
“We view announcements as $0.66/share accretive to earnings on an annualized basis (Figure 1), although the PRT doesn’t close until the QSR capital will likely not be at a full run rate until H2 2019. We are lowering our 2018E EPS to $6.20 from $6.25 (due to market conditions), raising our 2019E EPS to $7.75 from $7.30, and our 2020E EPS to $8.65 from $7.80. We view ATH’s announcements as a positive and we believe shares outperformed today (+1.6% versus S&P 500 +0.2%) given ATH’s robust excess capital position and ability to onboard business at a good ROE.”
According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 1.1% and a 50.5% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Renaissancere Holdings Ltd.
Currently, the analyst consensus on Athene Holding Ltd is a Strong Buy with an average price target of $64.11.
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The company has a one-year high of $53.92 and a one-year low of $39.59. Currently, Athene Holding Ltd has an average volume of 1.27M.
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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.
