Traders Buy Shares of Aetna Inc. (AET) on Weakness
Traders bought shares of Aetna Inc. (NYSE:AET) on weakness during trading on Tuesday. $74.89 million flowed into the stock on the tick-up and $54.00 million flowed out of the stock on the tick-down, for a money net flow of $20.89 million into the stock. Of all stocks tracked, Aetna had the 20th highest net in-flow for the day. Aetna traded down ($0.59) for the day and closed at $117.25
Several research analysts have recently issued reports on AET shares. Zacks Investment Research raised Aetna from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Wednesday, May 4th. Morgan Stanley reissued a “buy” rating on shares of Aetna in a research note on Saturday, April 30th. Sterne Agee CRT reissued a “buy” rating on shares of Aetna in a research note on Monday, May 16th. Wells Fargo & Co. reissued a “buy” rating on shares of Aetna in a research note on Thursday, June 2nd. Finally, FBR & Co reissued a “hold” rating and issued a $135.00 price target on shares of Aetna in a research note on Friday, April 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $134.81.
The firm has a market capitalization of $41.11 billion and a PE ratio of 17.66. The stock has a 50 day moving average of $119.22 and a 200 day moving average of $111.92.
Aetna (NYSE:AET) last released its earnings results on Thursday, April 28th. The company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.07. During the same period last year, the business posted $2.39 earnings per share. The firm earned $15.69 billion during the quarter, compared to analyst estimates of $15.46 billion. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Aetna Inc. will post $8.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, July 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.85%.
In other news, CEO Mark T. Bertolini sold 33,510 shares of Aetna stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 496,588 shares of the company’s stock, valued at approximately $56,611,032. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margaret M. Mccarthy sold 39,169 shares of Aetna stock in a transaction 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 directly owns 56,240 shares of the company’s stock, valued at $6,436,668. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in the stock. Affinity Investment Advisors LLC boosted its stake in Aetna by 0.8% in the fourth quarter. Affinity Investment Advisors LLC now owns 167,992 shares of the company’s stock valued at $18,163,000 after buying an additional 1,384 shares during the period. I.G. Investment Management LTD. boosted its stake in Aetna by 151.0% in the fourth quarter. I.G. Investment Management LTD. now owns 93,208 shares of the company’s stock valued at $10,078,000 after buying an additional 56,076 shares during the period. Alpine Woods Capital Investors LLC boosted 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 period. Zweig DiMenna Associates LLC boosted its stake in shares of Aetna by 1.6% in the fourth quarter. Zweig DiMenna Associates LLC now owns 96,500 shares of the company’s stock worth $10,434,000 after buying an additional 1,500 shares during the period. Finally, Suntrust Banks Inc. boosted its stake in shares of Aetna by 37.5% in the fourth quarter. Suntrust Banks Inc. now owns 38,673 shares of the company’s stock worth $4,179,000 after buying an additional 10,556 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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