Aetna Inc. (NYSE:AET) Position Decreased by State Treasurer State of Michigan
State Treasurer State of Michigan lowered its stake in shares of Aetna Inc. (NYSE:AET) by 5.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 109,034 shares of the company’s stock after selling 6,500 shares during the period. State Treasurer State of Michigan’s holdings in Aetna were worth $16,555,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. FTB Advisors Inc. boosted its stake in Aetna by 11.0% in the first quarter. FTB Advisors Inc. now owns 977 shares of the company’s stock valued at $125,000 after buying an additional 97 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Aetna during the first quarter valued at $133,000. Liberty Capital Management Inc. boosted its stake in shares of Aetna by 206.9% in the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after buying an additional 629 shares in the last quarter. Horan Capital Management acquired a new stake in shares of Aetna during the first quarter valued at $157,000. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of Aetna by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 91.80% of the company’s stock.
Aetna Inc. (AET) opened at 156.31 on Monday. The company has a market capitalization of $51.85 billion, a P/E ratio of 47.67 and a beta of 0.54. Aetna Inc. has a one year low of $104.59 and a one year high of $156.49. The firm has a 50-day moving average of $151.67 and a 200-day moving average of $135.46.
Aetna (NYSE:AET) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.35. The business had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $15.39 billion. Aetna had a return on equity of 17.75% and a net margin of 1.84%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.30 EPS. On average, analysts anticipate that Aetna Inc. will post $8.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Thursday, July 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, July 11th. Aetna’s dividend payout ratio (DPR) is presently 62.31%.
AET has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $150.00 price target (up previously from $130.00) on shares of Aetna in a research report on Wednesday, May 3rd. Royal Bank Of Canada lifted their price objective on shares of Aetna from $147.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, June 9th. Zacks Investment Research raised shares of Aetna from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Tuesday, April 4th. UBS AG reaffirmed a “buy” rating and set a $160.00 price objective (up from $147.00) on shares of Aetna in a research note on Wednesday, May 17th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $150.00 price objective on shares of Aetna in a research note on Friday, May 12th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $152.84.
In other news, EVP Margaret M. Mccarthy sold 27,028 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the sale, the executive vice president now owns 33,563 shares of the company’s stock, valued at approximately $5,008,606.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark T. Bertolini sold 103,547 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $140.79, for a total value of $14,578,382.13. Following the sale, the chairman now directly owns 659,888 shares in the company, valued at approximately $92,905,631.52. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company 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. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers’ compensation administrative services and health information technology (HIT) products and services.
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