River Wealth Advisors LLC Raises Stake in Aetna Inc. (NYSE:AET)
River Wealth Advisors LLC increased its stake in Aetna Inc. (NYSE:AET) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,722 shares of the company’s stock after buying an additional 532 shares during the period. River Wealth Advisors LLC’s holdings in Aetna were worth $1,021,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of AET. BlackRock Inc. increased its position in Aetna by 3,374.9% in the first quarter. BlackRock Inc. now owns 30,712,219 shares of the company’s stock valued at $3,917,344,000 after buying an additional 29,828,390 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Aetna by 3.8% in the first quarter. Vanguard Group Inc. now owns 23,117,526 shares of the company’s stock valued at $2,948,640,000 after buying an additional 838,578 shares during the period. AQR Capital Management LLC raised its stake in shares of Aetna by 26.0% in the first quarter. AQR Capital Management LLC now owns 3,639,077 shares of the company’s stock valued at $464,165,000 after buying an additional 751,166 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Aetna by 29.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,376,132 shares of the company’s stock valued at $303,076,000 after buying an additional 537,604 shares during the period. Finally, Harbour Capital Advisors LLC raised its stake in shares of Aetna by 15,083.0% in the second quarter. Harbour Capital Advisors LLC now owns 504,076 shares of the company’s stock valued at $3,320,000 after buying an additional 500,756 shares during the period. Institutional investors own 91.73% of the company’s stock.
Aetna Inc. (NYSE:AET) opened at 156.79 on Monday. The stock’s 50 day moving average is $153.22 and its 200-day moving average is $137.42. The firm has a market capitalization of $52.01 billion, a price-to-earnings ratio of 47.82 and a beta of 0.54. Aetna Inc. has a 12 month low of $104.59 and a 12 month high of $161.69.
Aetna (NYSE:AET) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $1.08. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The company had revenue of $15.52 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same period last year, the company posted $2.21 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Aetna Inc. will post $9.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Thursday, July 13th were paid a $0.50 dividend. The ex-dividend date was Tuesday, July 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.28%. Aetna’s payout ratio is currently 43.67%.
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Several analysts have recently weighed in on AET shares. Jefferies Group LLC reiterated a “hold” rating and set a $133.00 target price on shares of Aetna in a research report on Thursday, April 13th. Citigroup Inc. started coverage on shares of Aetna in a research report on Wednesday, June 28th. They set a “buy” rating and a $180.00 target price on the stock. Cleveland Research upgraded shares of Aetna from a “neutral” rating to a “buy” rating in a research report on Thursday, May 11th. Cantor Fitzgerald reiterated a “buy” rating and set a $150.00 target price on shares of Aetna in a research report on Friday, May 12th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $155.00 target price on shares of Aetna in a research report on Wednesday, May 17th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Aetna presently has a consensus rating of “Buy” and a consensus target price of $155.46.
In other news, Chairman Mark T. Bertolini sold 103,547 shares of the firm’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 sale, the chairman now directly owns 659,888 shares in the company, valued at approximately $92,905,631.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the completion of the sale, the executive vice president now owns 33,563 shares in the company, valued at $5,008,606.49. The disclosure for this sale can be found here. Company insiders own 1.14% 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. 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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