World Asset Management Inc Sells 6,608 Shares of Aetna Inc. (NYSE:AET)
World Asset Management Inc lowered its stake in Aetna Inc. (NYSE:AET) by 17.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,686 shares of the company’s stock after selling 6,608 shares during the period. World Asset Management Inc’s holdings in Aetna were worth $4,811,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Aetna during the fourth quarter valued at $662,000. Raymond James Trust N.A. increased its position in Aetna by 8.4% in the first quarter. Raymond James Trust N.A. now owns 6,641 shares of the company’s stock valued at $847,000 after buying an additional 514 shares during the last quarter. Creative Planning increased its position in Aetna by 13.3% in the first quarter. Creative Planning now owns 16,574 shares of the company’s stock valued at $2,114,000 after buying an additional 1,946 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Aetna by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 109,635 shares of the company’s stock valued at $13,983,000 after buying an additional 1,450 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its position in Aetna by 448.0% in the first quarter. Koshinski Asset Management Inc. now owns 14,939 shares of the company’s stock valued at $1,905,000 after buying an additional 12,213 shares during the last quarter. 91.73% of the stock is owned by institutional investors.
Aetna (NYSE:AET) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.34 by $1.08. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The business had revenue of $15.52 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the prior year, the business posted $2.21 earnings per share. Aetna’s revenue for the quarter was down 2.7% compared to the same quarter last 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Tuesday, July 11th. Aetna’s dividend payout ratio (DPR) is presently 43.67%.
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AET has been the subject of several recent research reports. Jefferies Group LLC reissued a “hold” rating and set a $133.00 price target on shares of Aetna in a research report on Thursday, April 13th. Royal Bank Of Canada reissued a “buy” rating and set a $145.00 price target on shares of Aetna in a research report on Monday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target (up previously from $140.00) on shares of Aetna in a research report on Wednesday, May 3rd. Stifel Nicolaus reissued a “buy” rating and set a $150.00 price target (up previously from $130.00) on shares of Aetna in a research report on Wednesday, May 3rd. Finally, Cleveland Research raised Aetna from a “neutral” rating to a “buy” rating in a research report on Thursday, May 11th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Aetna has an average rating of “Buy” and an average target price of $155.46.
In other news, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were 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 directly 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 at this hyperlink. Also, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $140.79, for a total transaction of $14,578,382.13. Following the completion of the transaction, the chairman now directly owns 659,888 shares in the company, valued at $92,905,631.52. The disclosure for this sale can be found here. Corporate 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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