Aetna Inc. (AET) Shares Down 4.3%
Aetna Inc. (NYSE:AET) was down 4.3% during mid-day trading on Thursday . The stock traded as low as $114.51 and last traded at $115.03, with a volume of 7,058,758 shares traded. The stock had previously closed at $120.24.
Several equities research analysts have recently issued reports on AET shares. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $120.00 target price on shares of Aetna in a report on Wednesday, June 29th. Wolfe Research started coverage on Aetna in a research note on Tuesday, June 28th. They set an “outperform” rating and a $154.00 price objective on the stock. Sanford C. Bernstein started coverage on Aetna in a research note on Thursday, June 16th. They set an “outperform” rating and a $142.00 price objective on the stock. Cowen and Company reissued an “outperform” rating on shares of Aetna in a research note on Tuesday, April 5th. Finally, Leerink Swann reissued an “outperform” rating on shares of Aetna in a research note on Tuesday, April 5th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $134.25.
The firm has a market capitalization of $40.48 billion and a P/E ratio of 17.39. The company has a 50-day moving average price of $118.11 and a 200 day moving average price of $111.14.
Aetna (NYSE:AET) last released its quarterly earnings data on Thursday, April 28th. The company reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.07. The business earned $15.69 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the previous year, the company posted $2.39 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, analysts forecast that Aetna Inc. will post $8.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, July 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%.
In related news, EVP Margaret M. Mccarthy sold 39,169 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $114.45, for a total transaction of $4,482,892.05. Following the completion of the transaction, the executive vice president now owns 56,240 shares of the company’s stock, valued at approximately $6,436,668. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark T. Bertolini sold 33,510 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $114.00, for a total transaction of $3,820,140.00. Following the transaction, the chief executive officer now directly owns 496,588 shares of the company’s stock, valued at approximately $56,611,032. The disclosure for this sale can be found here.
Other institutional investors recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Aetna by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 20,151,045 shares of the company’s stock worth $2,178,732,000 after buying an additional 399,218 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Aetna by 7.9% in the fourth quarter. OppenheimerFunds Inc. now owns 4,204,084 shares of the company’s stock worth $454,572,000 after buying an additional 307,687 shares during the last quarter. Wells Fargo & Company MN boosted its position in Aetna by 10.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,747,213 shares of the company’s stock worth $188,909,000 after buying an additional 160,884 shares during the last quarter. Morgan Stanley boosted its position in Aetna by 13.9% in the fourth quarter. Morgan Stanley now owns 1,198,641 shares of the company’s stock worth $129,597,000 after buying an additional 146,538 shares during the last quarter. Finally, Standard Life Investments LTD boosted its position in Aetna by 3.5% in the fourth quarter. Standard Life Investments LTD now owns 1,137,671 shares of the company’s stock worth $123,010,000 after buying an additional 38,157 shares during the last quarter.
Aetna Inc is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. The Health Care segment’s products and services consist of medical, pharmacy benefit management services, dental, behavioral health and vision plans offered on both an insured basis and an employer-funded, or administrative services contact, basis and emerging businesses products and services, such as accountable care solutions (ACS).
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