Seaward Management Limited Partnership Cuts Stake in Aetna Inc. (AET)
Seaward Management Limited Partnership decreased its stake in Aetna Inc. (NYSE:AET) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 15,205 shares of the company’s stock after selling 175 shares during the period. Seaward Management Limited Partnership’s holdings in Aetna were worth $1,856,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AET. DAVENPORT & Co LLC raised its position in Aetna by 0.3% in the second quarter. DAVENPORT & Co LLC now owns 5,761 shares of the company’s stock worth $704,000 after buying an additional 18 shares during the period. Rehmann Capital Advisory Group raised its position in Aetna by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 2,209 shares of the company’s stock worth $270,000 after buying an additional 26 shares during the period. Apex Capital Management raised its position in Aetna by 0.5% in the first quarter. Apex Capital Management now owns 5,574 shares of the company’s stock worth $626,000 after buying an additional 27 shares during the period. Evanson Asset Management LLC raised its position in Aetna by 2.6% in the second quarter. Evanson Asset Management LLC now owns 1,951 shares of the company’s stock worth $238,000 after buying an additional 50 shares during the period. Finally, Pitcairn Co. raised its position in Aetna by 1.1% in the second quarter. Pitcairn Co. now owns 5,229 shares of the company’s stock worth $639,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.
Shares of Aetna Inc. (NYSE:AET) traded down 0.17% during midday trading on Tuesday, reaching $114.63. The company’s stock had a trading volume of 959,900 shares. The stock has a 50 day moving average of $117.39 and a 200-day moving average of $115.49. Aetna Inc. has a 1-year low of $92.42 and a 1-year high of $123.57. The company has a market capitalization of $40.21 billion, a P/E ratio of 16.80 and a beta of 0.62.
Aetna (NYSE:AET) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.09. The company earned $15.95 billion during the quarter, compared to analysts’ expectations of $15.69 billion. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 EPS. On average, equities research analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current year.
A number of research analysts recently issued reports on the company. Credit Suisse Group AG reiterated a “hold” rating and issued a $120.00 target price on shares of Aetna in a report on Tuesday, September 13th. Jefferies Group restated a “hold” rating on shares of Aetna in a research note on Tuesday, September 6th. Leerink Swann restated an “outperform” rating on shares of Aetna in a research note on Wednesday, August 24th. FBR & Co restated a “hold” rating on shares of Aetna in a research note on Wednesday, August 17th. Finally, Zacks Investment Research cut Aetna from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $133.15.
In other Aetna news, insider Shawn M. Guertin sold 45,328 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $120.21, for a total value of $5,448,878.88. Following the completion of the transaction, the insider now directly owns 44,883 shares of the company’s stock, valued at approximately $5,395,385.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey E. Garten sold 7,100 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total transaction of $827,221.00. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
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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