Aetna Inc. (AET) Stake Raised by Pitcairn Co.
Pitcairn Co. boosted its stake in shares of Aetna Inc. (NYSE:AET) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 5,229 shares of the company’s stock after buying an additional 55 shares during the period. Pitcairn Co.’s holdings in Aetna were worth $639,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. boosted its position in Aetna by 304.8% in the second quarter. Hartford Financial Management Inc. now owns 850 shares of the company’s stock valued at $101,000 after buying an additional 640 shares in the last quarter. FirstMerit Bank N A Trustee purchased a new position in Aetna during the second quarter valued at $200,000. Pennsylvania Trust Co purchased a new position in Aetna during the second quarter valued at $221,000. Atria Investments LLC purchased a new position in Aetna during the second quarter valued at $222,000. Finally, Simmons Bank purchased a new position in Aetna during the first quarter valued at $223,000. Institutional investors and hedge funds own 91.95% of the company’s stock.
Shares of Aetna Inc. (NYSE:AET) traded up 0.21% during midday trading on Thursday, reaching $116.93. The company’s stock had a trading volume of 1,506,802 shares. The company has a market capitalization of $41.02 billion, a P/E ratio of 17.14 and a beta of 0.62. Aetna Inc. has a one year low of $92.42 and a one year high of $123.57. The stock’s 50-day moving average is $117.42 and its 200-day moving average is $115.51.
Aetna (NYSE:AET) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.09. Aetna had a return on equity of 16.44% and a net margin of 3.89%. The company earned $15.95 billion during the quarter, compared to analyst estimates of $15.69 billion. During the same period in the previous year, the business earned $2.05 EPS. Aetna’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
AET has been the subject of several research analyst reports. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a report on Tuesday, July 19th. Morgan Stanley restated a “buy” rating on shares of Aetna in a report on Tuesday, June 14th. Wells Fargo & Co. restated a “buy” rating on shares of Aetna in a report on Thursday, June 2nd. Leerink Swann restated a “buy” rating and set a $135.00 price target on shares of Aetna in a report on Thursday, August 4th. Finally, FBR & Co restated a “hold” rating and set a $135.00 price target on shares of Aetna in a report on Thursday, August 4th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $133.15.
In other news, Director Jeffrey E. Garten sold 7,100 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $116.51, for a total value of $827,221.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn M. Guertin sold 45,328 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 44,883 shares of the company’s stock, valued at $5,395,385.43. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
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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