Telemus Capital LLC Raises Position in Aetna Inc. (AET)
Telemus Capital LLC raised its stake in shares of Aetna Inc. (NYSE:AET) by 7.8% during the second quarter, Holdings Channel reports. The firm owned 8,344 shares of the company’s stock after buying an additional 605 shares during the period. Telemus Capital LLC’s holdings in Aetna were worth $1,267,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Stratos Wealth Partners LTD. raised its position 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. raised its position 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 raised its position 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. River Wealth Advisors LLC raised its position 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. Finally, Daiwa Securities Group Inc. raised its position in Aetna by 326.0% in the second quarter. Daiwa Securities Group Inc. now owns 50,580 shares of the company’s stock valued at $7,679,000 after buying an additional 38,706 shares during the period. 91.73% of the stock is owned by institutional investors and hedge funds.
Shares of 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. Aetna Inc. has a 52-week low of $104.59 and a 52-week high of $161.69. The company has a market capitalization of $51.83 billion, a P/E ratio of 47.66 and a beta of 0.54.
Aetna (NYSE:AET) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 EPS for the quarter, topping 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 firm had revenue of $15.52 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The company’s revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Aetna Inc. will post $9.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Thursday, July 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Tuesday, July 11th. Aetna’s dividend payout ratio is currently 43.67%.
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Several research firms have recently commented on AET. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price target (up from $150.00) on shares of Aetna in a report on Wednesday. Deutsche Bank AG lifted their price target on shares of Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $163.00 price target on shares of Aetna in a report on Friday, August 4th. Royal Bank Of Canada lifted their price target on shares of Aetna from $162.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, BidaskClub lowered shares of Aetna from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $157.09.
In other Aetna news, EVP Margaret M. Mccarthy sold 27,028 shares of the 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark T. Bertolini sold 103,547 shares of the stock in a transaction dated 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 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 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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