Aetna Inc. (AET) Shares Bought by Palisade Capital Management LLC NJ
Palisade Capital Management LLC NJ raised its stake in Aetna Inc. (NYSE:AET) by 8.3% during the second quarter, Holdings Channel reports. The fund owned 30,772 shares of the company’s stock after buying an additional 2,354 shares during the period. Palisade Capital Management LLC NJ’s holdings in Aetna were worth $4,672,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. FTB Advisors Inc. boosted its stake in shares of Aetna by 11.0% in the first quarter. FTB Advisors Inc. now owns 977 shares of the company’s stock valued at $125,000 after buying an additional 97 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Aetna during the first quarter valued at approximately $133,000. Liberty Capital Management Inc. boosted its stake in shares of Aetna by 206.9% in the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after buying an additional 629 shares during the last quarter. Horan Capital Management acquired a new stake in shares of Aetna during the first quarter valued at approximately $157,000. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of Aetna by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after buying an additional 9 shares during the last quarter. Institutional investors own 91.73% of the company’s stock.
Aetna Inc. (NYSE AET) opened at 155.58 on Thursday. Aetna Inc. has a 1-year low of $104.59 and a 1-year high of $161.69. The company has a market capitalization of $51.61 billion, a P/E ratio of 47.45 and a beta of 0.54. The firm has a 50-day moving average price of $154.27 and a 200-day moving average price of $138.69.
Aetna (NYSE:AET) last released its earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $1.08. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The company had revenue of $15.52 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same period in the prior year, the company posted $2.21 earnings per share. Aetna’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts forecast that Aetna Inc. will post $9.43 EPS for the current fiscal year.
The company 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 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, July 11th. Aetna’s dividend payout ratio (DPR) is 43.67%.
Several analysts have recently commented on AET shares. Cowen and Company set a $170.00 target price on Aetna and gave the stock a “buy” rating in a report on Saturday, May 27th. Credit Suisse Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Aetna in a research note on Wednesday, May 17th. UBS AG reaffirmed a “buy” rating and set a $160.00 price target (up previously from $147.00) on shares of Aetna in a research note on Wednesday, May 17th. Bank of America Corporation reaffirmed a “buy” rating and set a $168.00 price target (up previously from $160.00) on shares of Aetna in a research note on Wednesday, May 17th. Finally, Stifel Nicolaus upped their price target on Aetna from $150.00 to $158.00 and gave the company a “buy” rating in a research note on Tuesday, May 16th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Aetna has an average rating of “Buy” and a consensus price target of $157.09.
In other Aetna news, EVP Margaret M. Mccarthy sold 27,028 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the completion of the transaction, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at $5,008,606.49. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark T. Bertolini sold 103,547 shares of the stock in a transaction 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 transaction, the chairman now directly owns 659,888 shares of the company’s stock, valued at $92,905,631.52. The disclosure for this sale can be found here. 0.90% 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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