Aetna Inc. (AET) Trading Down 4.3%
Shares of Aetna Inc. (NYSE:AET) were down 4.3% on Thursday . The stock traded as low as $114.51 and last traded at $115.03, with a volume of 7,058,758 shares. The stock had previously closed at $120.24.
Several brokerages recently commented on AET. Credit Suisse Group AG reiterated a “hold” rating and issued a $120.00 target price on shares of Aetna in a report on Wednesday, June 29th. Wolfe Research began coverage on Aetna in a report on Tuesday, June 28th. They issued an “outperform” rating and a $154.00 target price on the stock. Sanford C. Bernstein began coverage on Aetna in a report on Thursday, June 16th. They issued an “outperform” rating and a $142.00 target price on the stock. Cowen and Company reiterated an “outperform” rating on shares of Aetna in a report on Tuesday, April 5th. Finally, Leerink Swann reiterated an “outperform” rating on shares of Aetna in a report on Tuesday, April 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Aetna currently has an average rating of “Buy” and an average price target of $134.25.
The company has a market capitalization of $41.02 billion and a price-to-earnings ratio of 17.62. The company’s 50 day moving average price is $118.33 and its 200-day moving average price is $111.19.
Aetna (NYSE:AET) last issued its quarterly earnings data on Thursday, April 28th. The company reported $2.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.07. The business earned $15.69 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the prior year, the business posted $2.39 earnings per share. Aetna’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, July 14th will be given a $0.25 dividend. The ex-dividend date is Tuesday, July 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%.
In other news, CEO Mark T. Bertolini sold 33,510 shares of Aetna stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $114.00, for a total value of $3,820,140.00. Following the sale, the chief executive officer now directly owns 496,588 shares in the company, valued at approximately $56,611,032. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Margaret M. Mccarthy sold 39,169 shares of Aetna stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $114.45, for a total value of $4,482,892.05. Following the completion of the sale, the executive vice president now owns 56,240 shares in the company, valued at $6,436,668. The disclosure for this sale can be found here.
Several large investors have modified their holdings of AET. Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. OppenheimerFunds Inc. raised its stake in shares of 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 in the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 in the last quarter. Morgan Stanley raised its stake in shares of 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 in the last quarter. Finally, BHF Kleinwort Benson Group S.A. raised its stake in shares of Aetna by 28.8% in the fourth quarter. BHF Kleinwort Benson Group S.A. now owns 306,739 shares of the company’s stock worth $33,165,000 after buying an additional 68,617 shares in 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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