Aetna Inc. (AET) Shares Gap Up to $119.18
Aetna Inc. (NYSE:AET)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $118.87, but opened at $119.18. Aetna shares last traded at $120.41, with a volume of 1,322,908 shares traded.
A number of brokerages have issued reports on AET. Leerink Swann reissued an “outperform” rating on shares of Aetna in a report on Tuesday, June 21st. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Aetna in a report on Thursday, June 2nd. Sanford C. Bernstein assumed coverage on Aetna in a report on Thursday, June 16th. They set an “outperform” rating and a $142.00 price target on the stock. Morgan Stanley reaffirmed a “buy” rating on shares of Aetna in a report on Tuesday, June 14th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $120.00 price target on shares of Aetna in a report on Wednesday, June 29th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $134.25.
The firm has a 50-day moving average of $119.04 and a 200-day moving average of $111.41. The stock has a market cap of $41.77 billion and a PE ratio of 17.94.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, April 28th. The company reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.07. During the same quarter last year, the firm earned $2.39 earnings per share. The firm earned $15.69 billion during the quarter, compared to analyst estimates of $15.46 billion. Aetna’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.84%.
In other news, CEO Mark T. Bertolini sold 33,510 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 496,588 shares in the company, valued at $56,611,032. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $114.45, for a total transaction of $4,482,892.05. Following the transaction, 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.
Other institutional investors recently made changes to their positions in the company. Morgan Stanley raised its position 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 during the last quarter. Standard Life Investments LTD raised its position in shares of 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. Deere & Co. raised its position in shares of Aetna by 8.0% in the fourth quarter. Deere & Co. now owns 36,085 shares of the company’s stock worth $3,902,000 after buying an additional 2,678 shares during the last quarter. Synovus Financial Corp raised its position 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. Finally, Alpine Woods Capital Investors LLC raised its position 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.
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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