Investors Buy Shares of Aetna Inc. (AET) on Weakness
Traders bought shares of Aetna Inc. (NYSE:AET) on weakness during trading on Tuesday. $143.90 million flowed into the stock on the tick-up and $89.36 million flowed out of the stock on the tick-down, for a money net flow of $54.54 million into the stock. Of all companies tracked, Aetna had the 4th highest net in-flow for the day. Aetna traded down ($0.69) for the day and closed at $115.50
A number of brokerages have recently commented on AET. Credit Suisse Group AG reissued a “hold” rating on shares of Aetna in a report on Sunday. Wolfe Research began coverage on Aetna in a research note on Tuesday, June 28th. They set an “outperform” rating and a $154.00 target price for the company. Leerink Swann reaffirmed an “outperform” rating on shares of Aetna in a research note on Tuesday, June 21st. Sanford C. Bernstein began coverage on Aetna in a research note on Thursday, June 16th. They set an “outperform” rating and a $142.00 target price for the company. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Aetna in a research note on Tuesday, June 14th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $134.25.
The firm has a market capitalization of $40.49 billion and a PE ratio of 17.39. The company has a 50 day moving average price of $118.66 and a 200 day moving average price of $111.29.
Aetna (NYSE:AET) last issued 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. During the same period last year, the company posted $2.39 earnings per share. The company had revenue of $15.69 billion for the quarter, compared to analyst estimates of $15.46 billion. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts predict 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 of this dividend is Tuesday, July 12th. This represents a $1.00 annualized dividend and a yield of 0.87%.
In related news, 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 completion of the transaction, the chief executive officer now directly owns 496,588 shares of the company’s stock, valued at $56,611,032. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margaret M. Mccarthy sold 39,169 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were 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 approximately $6,436,668. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in AET. Synovus Financial Corp raised its stake in Aetna by 11.2% in the fourth quarter. Synovus Financial Corp now owns 9,862 shares of the company’s stock valued at $1,065,000 after buying an additional 997 shares in the last quarter. Victory Capital Management Inc. raised its stake in Aetna by 89.0% in the fourth quarter. Victory Capital Management Inc. now owns 10,252 shares of the company’s stock valued at $1,108,000 after buying an additional 4,829 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Aetna during the fourth quarter valued at about $1,113,000. Alpine Woods Capital Investors LLC raised its stake in Aetna by 76.5% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,500 shares of the company’s stock valued at $1,135,000 after buying an additional 4,550 shares in the last quarter. Finally, Bank of Hawaii raised its stake in Aetna by 421.0% in the fourth quarter. Bank of Hawaii now owns 10,811 shares of the company’s stock valued at $1,169,000 after buying an additional 8,736 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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.