Aetna Inc. (AET) Shares Bought by Concert Wealth Management Inc.
Concert Wealth Management Inc. raised its stake in Aetna Inc. (NYSE:AET) by 7.1% during the second quarter, Holdings Channel reports. The fund owned 3,424 shares of the company’s stock after buying an additional 226 shares during the period. Concert Wealth Management Inc.’s holdings in Aetna were worth $417,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. increased its position in shares of Aetna by 0.8% in the second quarter. Riggs Asset Managment Co. Inc. now owns 52,685 shares of the company’s stock valued at $6,434,000 after buying an additional 410 shares during the last quarter. Premier Fund Managers Ltd increased its stake in shares of Aetna by 19.2% in the second quarter. Premier Fund Managers Ltd now owns 28,600 shares of the company’s stock valued at $3,465,000 after buying an additional 4,600 shares during the last quarter. Northpointe Capital LLC purchased a new stake in shares of Aetna during the second quarter valued at $1,969,000. Standard Life Investments LTD increased its stake in shares of Aetna by 6.4% in the second quarter. Standard Life Investments LTD now owns 1,168,909 shares of the company’s stock valued at $142,770,000 after buying an additional 70,254 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Aetna during the second quarter valued at $523,000. 91.95% of the stock is currently owned by institutional investors.
Shares of Aetna Inc. (NYSE:AET) traded down 0.55% during midday trading on Thursday, hitting $109.76. 2,228,809 shares of the stock were exchanged. The stock’s 50-day moving average price is $115.44 and its 200 day moving average price is $115.80. Aetna Inc. has a one year low of $92.42 and a one year high of $123.57. The stock has a market cap of $38.50 billion, a P/E ratio of 16.08 and a beta of 0.54.
Aetna (NYSE:AET) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.12 by $0.09. The business earned $15.95 billion during the quarter, compared to analyst estimates of $15.69 billion. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. On average, analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Thursday, October 13th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. Aetna’s dividend payout ratio is currently 14.73%.
Several brokerages have recently weighed in on AET. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $120.00 target price on shares of Aetna in a report on Wednesday, August 3rd. Leerink Swann reaffirmed a “buy” rating and issued a $135.00 target price on shares of Aetna in a report on Thursday, August 4th. FBR & Co reaffirmed a “hold” rating and issued a $135.00 target price on shares of Aetna in a report on Thursday, August 4th. Zacks Investment Research raised shares of Aetna from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a report on Tuesday, July 19th. Finally, Wolfe Research downgraded shares of Aetna from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 21st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $132.43.
In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn M. Guertin sold 45,328 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $120.21, for a total transaction of $5,448,878.88. Following the transaction, the insider now 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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