Aetna Inc. (AET) Stock Price Up 2.1%
Aetna Inc. (NYSE:AET) shares rose 2.1% on Wednesday . The company traded as high as $118.17 and last traded at $117.96, with a volume of 1,234,089 shares changing hands. The stock had previously closed at $115.50.
AET has been the subject of a number of research analyst reports. Credit Suisse Group AG restated a “hold” rating on shares of Aetna in a research report on Sunday. Wolfe Research initiated coverage on Aetna in a research report on Tuesday, June 28th. They issued an “outperform” rating and a $154.00 price target for the company. Sanford C. Bernstein began coverage on Aetna in a research report on Thursday, June 16th. They issued an “outperform” rating and a $142.00 price target for the company. Cowen and Company reaffirmed an “outperform” rating on shares of Aetna in a research note on Tuesday, April 5th. Finally, Leerink Swann reaffirmed an “outperform” rating on shares of Aetna in a research note on Tuesday, April 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Aetna presently has an average rating of “Buy” and an average price target of $134.25.
The stock has a market cap of $41.78 billion and a price-to-earnings ratio of 17.95. The firm’s 50-day moving average is $118.66 and its 200-day moving average is $111.29.
Aetna (NYSE:AET) last announced its earnings results on Thursday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.07. The company had revenue of $15.69 billion for the quarter, compared to analyst estimates of $15.46 billion. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $2.39 earnings per share. On average, equities research analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, July 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Tuesday, July 12th.
In other news, CEO Mark T. Bertolini sold 33,510 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $114.00, for a total transaction of $3,820,140.00. Following the sale, the chief executive officer now directly owns 496,588 shares of the company’s stock, valued at $56,611,032. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margaret M. Mccarthy sold 39,169 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $114.45, for a total value of $4,482,892.05. Following the sale, the executive vice president now directly owns 56,240 shares in the company, valued at $6,436,668. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Aetna by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 20,151,045 shares of the company’s stock worth $2,178,732,000 after buying an additional 399,218 shares during the period. Wells Fargo & Company MN raised its stake in shares of Aetna by 10.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,747,213 shares of the company’s stock worth $188,909,000 after buying an additional 160,884 shares during the period. Morgan Stanley raised its stake in shares of Aetna by 13.9% in the fourth quarter. Morgan Stanley now owns 1,198,641 shares of the company’s stock worth $129,597,000 after buying an additional 146,538 shares during the period. BHF Kleinwort Benson Group S.A. raised its stake in shares of Aetna by 28.8% in the fourth quarter. BHF Kleinwort Benson Group S.A. now owns 306,739 shares of the company’s stock worth $33,165,000 after buying an additional 68,617 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Aetna by 393.4% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 78,453 shares of the company’s stock worth $8,482,000 after buying an additional 62,553 shares during the period.
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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