4,279 Shares in Aetna Inc. (AET) Acquired by Essex Investment Management Co. LLC
Essex Investment Management Co. LLC purchased a new stake in Aetna Inc. (NYSE:AET) during the second quarter, Holdings Channel reports. The fund purchased 4,279 shares of the company’s stock, valued at approximately $523,000.
A number of other large investors have also modified their holdings of AET. UBS Asset Management Americas Inc. increased its stake in Aetna by 17.3% in the first quarter. UBS Asset Management Americas Inc. now owns 2,505,480 shares of the company’s stock valued at $281,491,000 after buying an additional 368,876 shares during the last quarter. Lazard Asset Management LLC boosted its position in Aetna by 40.5% in the first quarter. Lazard Asset Management LLC now owns 2,373,143 shares of the company’s stock valued at $266,622,000 after buying an additional 684,597 shares during the period. Pegasus Partners Ltd. acquired a new position in Aetna during the first quarter valued at $645,000. Canada Pension Plan Investment Board boosted its position in Aetna by 12.3% in the first quarter. Canada Pension Plan Investment Board now owns 268,304 shares of the company’s stock valued at $30,144,000 after buying an additional 29,300 shares during the period. Finally, Credit Agricole S A boosted its position in Aetna by 131.4% in the first quarter. Credit Agricole S A now owns 503,383 shares of the company’s stock valued at $56,556,000 after buying an additional 285,873 shares during the period. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Shares of Aetna Inc. (NYSE:AET) traded down 0.86% on Thursday, hitting $113.99. The stock had a trading volume of 1,469,529 shares. Aetna Inc. has a 52 week low of $92.42 and a 52 week high of $123.57. The company has a market cap of $39.99 billion, a PE ratio of 16.70 and a beta of 0.54. The stock’s 50-day moving average price is $116.30 and its 200 day moving average price is $115.78.
Aetna (NYSE:AET) last posted 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 return on equity of 16.44% and a net margin of 3.89%. The company earned $15.95 billion during the quarter, compared to analysts’ expectations of $15.69 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. Aetna’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Aetna Inc. will post $8.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Thursday, October 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. Aetna’s dividend payout ratio (DPR) is currently 14.73%.
Several equities analysts have weighed in on AET shares. Credit Suisse Group AG reaffirmed a “hold” rating and set a $120.00 target price on shares of Aetna in a research note on Wednesday, August 3rd. Sanford C. Bernstein started coverage on Aetna in a research note on Thursday, June 16th. They set an “outperform” rating and a $142.00 target price on the stock. Evercore ISI started coverage on Aetna in a research note on Thursday, September 22nd. They set a “buy” rating and a $128.00 target price on the stock. Leerink Swann reaffirmed an “outperform” rating on shares of Aetna in a research note on Wednesday, August 24th. Finally, Wolfe Research cut Aetna from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 21st. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $132.43.
In other news, Director Jeffrey E. Garten sold 7,100 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $116.51, for a total transaction of $827,221.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn M. Guertin sold 45,328 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $120.21, for a total value of $5,448,878.88. Following the transaction, the insider now directly owns 44,883 shares of the company’s stock, valued at approximately $5,395,385.43. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
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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