Retirement Systems of Alabama Lowers Stake in Aetna Inc. (NYSE:AET)
Retirement Systems of Alabama decreased its stake in Aetna Inc. (NYSE:AET) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 237,326 shares of the company’s stock after selling 9,178 shares during the period. Retirement Systems of Alabama’s holdings in Aetna were worth $36,033,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of AET. Telemus Capital LLC boosted its stake in Aetna by 7.8% in the second quarter. Telemus Capital LLC now owns 8,344 shares of the company’s stock valued at $1,267,000 after buying an additional 605 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Aetna by 9.6% in the second quarter. Stratos Wealth Partners LTD. now owns 10,571 shares of the company’s stock valued at $1,605,000 after buying an additional 929 shares during the period. Foster & Motley Inc. boosted its stake in Aetna by 2.5% in the second quarter. Foster & Motley Inc. now owns 10,501 shares of the company’s stock valued at $1,594,000 after buying an additional 259 shares during the period. Barry Investment Advisors LLC boosted its stake in Aetna by 14.1% in the second quarter. Barry Investment Advisors LLC now owns 2,113 shares of the company’s stock valued at $321,000 after buying an additional 261 shares during the period. Finally, River Wealth Advisors LLC boosted its stake in Aetna by 8.6% in the second quarter. River Wealth Advisors LLC now owns 6,722 shares of the company’s stock valued at $1,021,000 after buying an additional 532 shares during the period. 91.73% of the stock is currently owned by institutional investors.
Aetna Inc. (NYSE AET) opened at 156.27 on Wednesday. The firm’s 50-day moving average is $153.85 and its 200-day moving average is $137.83. The firm has a market cap of $51.83 billion, a PE ratio of 47.66 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 issued its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, beating 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 company had revenue of $15.52 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the prior year, the company earned $2.21 EPS. Aetna’s revenue was down 2.7% on a year-over-year basis. Equities analysts expect that Aetna Inc. will post $9.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Thursday, July 13th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, July 11th. Aetna’s payout ratio is 43.67%.
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Several research firms have recently commented on AET. UBS AG restated a “buy” rating and issued a $160.00 target price (up previously from $147.00) on shares of Aetna in a research note on Wednesday, May 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price (up previously from $150.00) on shares of Aetna in a research note on Wednesday. BidaskClub cut shares of Aetna from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Deutsche Bank AG raised their target price on shares of Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $163.00 target price on shares of Aetna in a research note on Friday, August 4th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $157.09.
In other Aetna news, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 659,888 shares of the company’s stock, valued at approximately $92,905,631.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction dated 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 directly owns 33,563 shares of the company’s stock, valued at $5,008,606.49. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate 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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