Aetna Inc. (AET) Shares Up 2.1%
Aetna Inc. (NYSE:AET) shot up 2.1% on Wednesday . The stock traded as high as $118.17 and last traded at $117.96, with a volume of 1,234,089 shares traded. The stock had previously closed at $115.50.
AET has been the topic of a number of analyst reports. Morgan Stanley restated a “buy” rating on shares of Aetna in a research report on Saturday, April 30th. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Wednesday, May 4th. FBR & Co restated a “hold” rating and set a $135.00 target price on shares of Aetna in a research report on Friday, April 29th. Leerink Swann restated an “outperform” rating on shares of Aetna in a research report on Tuesday, April 5th. Finally, Royal Bank Of Canada raised their target price on Aetna from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Friday, April 29th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $134.25.
The firm’s 50 day moving average is $119.04 and its 200-day moving average is $111.41. The company has a market capitalization of $41.77 billion and a PE ratio of 17.94.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, April 28th. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.23 by $0.07. The business earned $15.69 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts expect that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, July 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.84%.
In other news, EVP Margaret M. Mccarthy sold 39,169 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark T. Bertolini sold 33,510 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $114.00, for a total transaction of $3,820,140.00. Following the completion of the sale, the chief executive officer now owns 496,588 shares in the company, valued at $56,611,032. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Solaris Asset Management LLC raised its stake in Aetna by 0.8% in the fourth quarter. Solaris Asset Management LLC now owns 41,382 shares of the company’s stock valued at $4,474,000 after buying an additional 330 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Aetna by 0.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 38,882 shares of the company’s stock valued at $4,204,000 after buying an additional 361 shares during the last quarter. Tredje AP fonden increased its position in shares of Aetna by 1.6% in the fourth quarter. Tredje AP fonden now owns 23,271 shares of the company’s stock valued at $2,516,000 after buying an additional 365 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in shares of Aetna by 4.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 20,469 shares of the company’s stock valued at $2,213,000 after buying an additional 853 shares during the last quarter. Finally, Synovus Financial Corp increased its position in shares of Aetna by 11.2% in the fourth quarter. Synovus Financial Corp now owns 9,862 shares of the company’s stock valued at $1,065,000 after buying an additional 997 shares during the last quarter.
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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