Aetna Inc. (AET) Sees Strong Trading Volume
Aetna Inc. (NYSE:AET) saw an uptick in trading volume on Monday . 5,675,177 shares were traded during mid-day trading, an increase of 71% from the previous session’s volume of 3,313,584 shares.The stock last traded at $116.44 and had previously closed at $117.00.
A number of brokerages recently issued reports on AET. Leerink Swann reiterated an “outperform” rating on shares of Aetna in a research note on Tuesday, June 21st. Wells Fargo & Co. reiterated a “buy” rating on shares of Aetna in a research note on Thursday, June 2nd. Sanford C. Bernstein began coverage on shares of Aetna in a research note on Thursday, June 16th. They issued an “outperform” rating and a $142.00 price target for the company. Morgan Stanley reiterated a “buy” rating on shares of Aetna in a research note on Tuesday, June 14th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $120.00 price target on shares of Aetna in a research note on Wednesday, June 29th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $134.25.
The firm has a market capitalization of $40.82 billion and a PE ratio of 17.54. The company’s 50 day moving average is $118.50 and its 200-day moving average is $111.25.
Aetna (NYSE:AET) last issued its quarterly earnings results 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. During the same period in the prior year, the business posted $2.39 EPS. The company earned $15.69 billion during the quarter, compared to analysts’ expectations of $15.46 billion. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts forecast that Aetna Inc. will post $8.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, July 14th will be given 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 yield of 0.86%.
In other Aetna news, EVP Margaret M. Mccarthy sold 39,169 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $114.45, for a total transaction of $4,482,892.05. Following the completion of the sale, the executive vice president now directly owns 56,240 shares in the company, valued at approximately $6,436,668. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark T. Bertolini sold 33,510 shares of the firm’s stock in a transaction dated 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 owns 496,588 shares of the company’s stock, valued at $56,611,032. The disclosure for this sale can be found here.
A number of large investors have made changes to their positions in the company. Synovus Financial Corp raised its stake in shares of Aetna by 11.2% in the fourth quarter. Synovus Financial Corp now owns 9,862 shares of the company’s stock worth $1,065,000 after buying an additional 997 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Aetna by 89.0% in the fourth quarter. Victory Capital Management Inc. now owns 10,252 shares of the company’s stock worth $1,108,000 after buying an additional 4,829 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in shares of Aetna during the fourth quarter worth approximately $1,113,000. Alpine Woods Capital Investors LLC raised its stake in shares of Aetna by 76.5% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,500 shares of the company’s stock worth $1,135,000 after buying an additional 4,550 shares during the last quarter. Finally, Bank of Hawaii raised its stake in shares of Aetna by 421.0% in the fourth quarter. Bank of Hawaii now owns 10,811 shares of the company’s stock worth $1,169,000 after buying an additional 8,736 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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