Seven Bridges Advisors LLC Buys 1,768 Shares of Aetna Inc. (AET)
Seven Bridges Advisors LLC increased its stake in Aetna Inc. (NYSE:AET) by 234.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,523 shares of the company’s stock after buying an additional 1,768 shares during the period. Seven Bridges Advisors LLC’s holdings in Aetna were worth $308,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rehmann Capital Advisory Group increased 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 valued at $270,000 after buying an additional 26 shares during the last quarter. Bank of Montreal Can bought a new position in Aetna during the second quarter valued at about $39,500,000. MSI Financial Services Inc increased its position in Aetna by 8.9% in the second quarter. MSI Financial Services Inc now owns 8,496 shares of the company’s stock valued at $1,038,000 after buying an additional 697 shares during the last quarter. Shell Asset Management Co. increased its position in Aetna by 50.7% in the second quarter. Shell Asset Management Co. now owns 43,412 shares of the company’s stock valued at $5,302,000 after buying an additional 14,612 shares during the last quarter. Finally, JNBA Financial Advisors increased its position in Aetna by 429.2% in the second quarter. JNBA Financial Advisors now owns 3,699 shares of the company’s stock valued at $452,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 91.95% of the company’s stock.
Shares of Aetna Inc. (NYSE:AET) traded up 1.80% during trading on Wednesday, reaching $116.69. 1,760,923 shares of the company traded hands. Aetna Inc. has a 12-month low of $92.42 and a 12-month high of $123.57. The company has a 50 day moving average price of $117.42 and a 200 day moving average price of $115.50. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of 17.10 and a beta of 0.62.
Aetna (NYSE:AET) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.09. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.69 billion. During the same period last year, the firm earned $2.05 earnings per share. Aetna’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Aetna Inc. will post $8.05 EPS for the current year.
Several research analysts have recently issued reports on the stock. Credit Suisse Group AG restated a “hold” rating and set a $120.00 price objective on shares of Aetna in a report on Tuesday, September 13th. Jefferies Group reissued a “hold” rating on shares of Aetna in a research note on Tuesday, September 6th. Leerink Swann reissued an “outperform” rating on shares of Aetna in a research note on Wednesday, August 24th. FBR & Co reissued a “hold” rating on shares of Aetna in a research note on Wednesday, August 17th. Finally, Zacks Investment Research cut shares of Aetna from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Aetna presently has a consensus rating of “Buy” and a consensus target price of $133.15.
In related news, insider Shawn M. Guertin sold 45,328 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $120.21, for a total transaction of $5,448,878.88. Following the transaction, the insider now directly owns 44,883 shares of the company’s stock, valued at $5,395,385.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey E. Garten sold 7,100 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was 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. Corporate insiders own 0.90% of the company’s stock.
Aetna Company Profile
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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