Earnings Review and Free Research Report: Athene’s Operating Diluted EPS Surged 49%

Research Desk Line-up: Eaton Vance Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Athene Holding Ltd (NYSE: ATH) (“Athene”), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ATH, following the Company’s reporting of its financial results on August 09, 2017, for the second quarter of the fiscal year 2017. The Company’s total revenue increased 67.6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Asset Management industry. Pro-TD has currently selected Eaton Vance Corp. (NYSE: EV) for due-diligence and potential coverage as the Company reported on August 23, 2017, its financial results for Q3 FY17. Register for a free membership today, and be among the early birds that get access to our report on Eaton Vance when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ATH; also brushing on EV. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=ATH

http://protraderdaily.com/optin/?symbol=EV

Earnings Reviewed

For the three months ended June 30, 2017, Athene’s total revenue increased 67.6% on a y-o-y basis to $1.76 billion from $1.05 billion in Q2 FY16. During Q2 FY17, the Company’s premiums revenue increased to $379 million on a y-o-y basis.

During Q2 FY17, the Company’s earnings before interest and taxes (EBIT) increased 62% to $337 million from $208 million in Q2 FY16.

During Q2 FY17, Athene’s net income increased 69% to $326 million on a y-o-y basis from $193 million in Q2 FY16. During Q2 FY17, the Company’s operating income net of taxes increased 56% to $280 million on a y-o-y basis from $179 million in Q2 FY16. For the reported quarter, the Company’s diluted earnings per share (EPS) increased 58.7% on a y-o-y basis to $1.65 from $1.04 in Q2 FY16. During Q2 FY17, the Company’s operating diluted EPS increased 49% to $1.43 on a y-o-y basis from $0.96 in Q2 FY16. The operating diluted EPS surpassed analysts’ expectations of $1.06.

During Q2 FY17, the Company entered into a pension buyout agreement and agreed to provide annuity benefits to more than 10,000 retirees, representing pension obligations of $320 million.

Segment Details

Retirement Services – During Q2 FY17, Athene’s Retirement Services segment’s operating income net of taxes increased 36.2% to $267 million from $196 million in Q2 FY16. The increase was due to higher fixed and alternative investment income. For the reported quarter, the segment’s operating ROE excluding AOCI was 21.4% compared to 18.8% in the same quarter of last year. During Q2 FY17, the segment’s investment margin was 2.96% compared to 2.59% in Q2 FY16.

Corporate and Other – During Q2 FY17, Athene’s Corporate and Other segment’s operating income net of taxes was positive $13 million compared to negative $17 million in Q2 FY16. The increase was attributable to a higher alternative investment due to higher credit fund income, a result of favorable economics, and an increase in the market value of public equity positions.

Balance Sheet

As on June 30, 2017, Athene’s cash and cash equivalents increased 42% to $3.48 billion from $2.45 billion in Q4 FY16.

During Q2 FY17, the Company’s total deposits increased 31% to $3.23 billion from $2.46 billion in Q2 FY16. The increase was reflected in differentiated, multi-channel distribution platform resulting from growth in both retail and institutional channels.

During Q2 FY17, Athene’s return on equity (ROE) was 16.4% compared to 12.8% in Q2 FY16. During Q2 FY17, the Company’s operating ROE excluding AOCI was 15.9% compared to 12.4% in Q2 FY16.

During Q2 FY17, the Company’s book value per share was $42.20 compared to $34.57 in Q2 FY16. For the reported quarter, Athene’s book value per share excluding AOCI was $36.72 compared to $31.40 in Q2 FY16.

For the reported quarter, the Company’s invested assets increased 9% to $76.28 billion from $69.86 billion in Q2 FY16.

Stock Performance

On Wednesday, August 30, 2017, the stock closed the trading session at $53.00, slightly down 0.02% from its previous closing price of $53.01. A total volume of 994.21 thousand shares have exchanged hands. Athene’s stock price advanced 4.31% in the last one month, 6.68% in the past three months, and 2.40% in the previous six months. Furthermore, since the start of the year, shares of the Company have surged 10.44%. The stock is trading at a PE ratio of 8.08 and currently, has a market cap of $10.03 billion.

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