Traders Buy Shares of Aetna Inc. (AET) on Weakness
Traders purchased shares of Aetna Inc. (NYSE:AET) on weakness during trading on Monday. $196.96 million flowed into the stock on the tick-up and $143.10 million flowed out of the stock on the tick-down, for a money net flow of $53.86 million into the stock. Of all stocks tracked, Aetna had the 2nd highest net in-flow for the day. Aetna traded down ($0.56) for the day and closed at $116.44
A number of research firms have recently issued reports on AET. Credit Suisse Group AG reiterated a “hold” rating on shares of Aetna in a report on Sunday. Wolfe Research assumed coverage on Aetna in a report on Tuesday, June 28th. They issued an “outperform” rating and a $154.00 price objective for the company. Leerink Swann reissued an “outperform” rating on shares of Aetna in a research note on Tuesday, June 21st. Sanford C. Bernstein assumed coverage on Aetna in a research note on Thursday, June 16th. They issued an “outperform” rating and a $142.00 target price for the company. Finally, Morgan Stanley reissued a “buy” rating on shares of Aetna in a research note on Tuesday, June 14th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $134.25.
The firm has a 50 day moving average of $118.50 and a 200-day moving average of $111.25. The company has a market cap of $40.74 billion and a P/E ratio of 17.50.
Aetna (NYSE:AET) last posted its quarterly earnings results on Thursday, April 28th. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.23 by $0.07. The business earned $15.69 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Aetna’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.39 earnings per share. Analysts forecast that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, July 14th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.86%.
In related news, EVP Margaret M. Mccarthy sold 39,169 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 56,240 shares of the company’s stock, valued at approximately $6,436,668. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark T. Bertolini sold 33,510 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $114.00, for a total transaction of $3,820,140.00. Following the sale, 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.
A number of hedge funds have made changes to their positions in AET. Vanguard Group Inc. boosted 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 valued at $2,178,732,000 after buying an additional 399,218 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Aetna by 10.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,747,213 shares of the company’s stock valued at $188,909,000 after buying an additional 160,884 shares during the period. Morgan Stanley boosted its stake in Aetna by 13.9% in the fourth quarter. Morgan Stanley now owns 1,198,641 shares of the company’s stock valued at $129,597,000 after buying an additional 146,538 shares during the period. Standard Life Investments LTD boosted its stake in Aetna by 3.5% in the fourth quarter. Standard Life Investments LTD now owns 1,137,671 shares of the company’s stock valued at $123,010,000 after buying an additional 38,157 shares during the period. Finally, Atlantic Trust Group LLC boosted its stake in Aetna by 1.3% in the fourth quarter. Atlantic Trust Group LLC now owns 1,108,657 shares of the company’s stock valued at $119,869,000 after buying an additional 14,001 shares during the period.
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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