Aetna Inc. (AET) Position Cut by Nepsis Capital Management Inc.
Nepsis Capital Management Inc. reduced its stake in Aetna Inc. (NYSE:AET) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,420 shares of the company’s stock after selling 3,824 shares during the period. Aetna makes up about 2.3% of Nepsis Capital Management Inc.’s portfolio, making the stock its 29th largest position. Nepsis Capital Management Inc.’s holdings in Aetna were worth $4,770,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ibex Wealth Advisors raised its position in shares of Aetna by 3.5% in the fourth quarter. Ibex Wealth Advisors now owns 15,651 shares of the company’s stock valued at $1,918,000 after buying an additional 526 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Aetna by 31.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,641 shares of the company’s stock valued at $6,713,000 after buying an additional 12,648 shares during the last quarter. Columbus Circle Investors raised its position in shares of Aetna by 358.8% in the first quarter. Columbus Circle Investors now owns 51,831 shares of the company’s stock valued at $6,611,000 after buying an additional 40,535 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Aetna by 0.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 282,165 shares of the company’s stock valued at $35,990,000 after buying an additional 875 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Aetna by 57.0% in the first quarter. Toronto Dominion Bank now owns 95,608 shares of the company’s stock valued at $12,194,000 after buying an additional 34,719 shares during the last quarter. 91.80% of the stock is currently owned by institutional investors.
Shares of Aetna Inc. (NYSE:AET) opened at 156.25 on Wednesday. The company has a market cap of $51.83 billion, a P/E ratio of 47.65 and a beta of 0.54. Aetna Inc. has a 52 week low of $104.59 and a 52 week high of $157.55. The company’s 50-day moving average price is $152.15 and its 200 day moving average price is $136.01.
Aetna (NYSE:AET) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.35. The firm had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $15.39 billion. Aetna had a return on equity of 17.75% and a net margin of 1.84%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.30 earnings per share. On average, equities analysts forecast that Aetna Inc. will post $8.99 EPS for the current fiscal year.
The company 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, July 11th. Aetna’s payout ratio is 62.31%.
Several research analysts have weighed in on AET shares. CIBC reaffirmed an “outperform” rating on shares of Aetna in a research report on Monday, April 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $145.00 target price on shares of Aetna in a research report on Monday, April 24th. Bank of America Corporation reaffirmed a “buy” rating and issued a $168.00 target price (up from $160.00) on shares of Aetna in a research report on Wednesday, May 17th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Aetna in a research report on Friday, March 31st. Finally, Morgan Stanley started coverage on Aetna in a research report on Tuesday, June 6th. They issued an “overweight” rating and a $162.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $152.84.
In other news, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $149.23, for a total value of $4,033,388.44. Following the transaction, the executive vice president now owns 33,563 shares of the company’s stock, valued at $5,008,606.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $140.79, for a total value of $14,578,382.13. Following the completion of the transaction, 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 corporate insiders.
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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