Cullen Frost Bankers Inc. Continues to Hold Position in Aetna Inc. (NYSE:AET)
Cullen Frost Bankers Inc. held its stake in shares of Aetna Inc. (NYSE:AET) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,079 shares of the company’s stock at the end of the second quarter. Cullen Frost Bankers Inc.’s holdings in Aetna were worth $316,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Liberty Capital Management Inc. increased 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 worth $144,000 after buying an additional 629 shares in the last quarter. FTB Advisors Inc. increased 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 worth $125,000 after buying an additional 97 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Aetna during the first quarter worth $133,000. Horan Capital Management purchased a new stake in shares of Aetna during the first quarter worth $157,000. Finally, Guardian Life Insurance Co. of America increased 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 worth $173,000 after buying an additional 9 shares in the last quarter. Institutional investors and hedge funds own 91.73% of the company’s stock.
Aetna Inc. (NYSE AET) opened at 155.58 on Thursday. The company has a market capitalization of $51.61 billion, a PE ratio of 47.45 and a beta of 0.54. Aetna Inc. has a 52 week low of $104.59 and a 52 week high of $161.69. The stock’s 50 day moving average is $154.27 and its 200 day moving average is $138.69.
Aetna (NYSE:AET) last issued its earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.34 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. Aetna’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts predict that Aetna Inc. will post $9.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Thursday, July 13th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, July 11th. Aetna’s payout ratio is 43.67%.
A number of brokerages recently weighed in on AET. UBS AG reiterated a “buy” rating and issued a $160.00 price target (up from $147.00) on shares of Aetna in a research report on Wednesday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target (up from $150.00) on shares of Aetna in a research report on Wednesday. BidaskClub downgraded shares of Aetna from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Deutsche Bank AG increased their price target on shares of Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a research report on Monday. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 price target (up from $157.00) on shares of Aetna in a research report on Friday, August 4th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $157.09.
In other news, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 659,888 shares of the company’s stock, valued at $92,905,631.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was 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 in the company, valued at $5,008,606.49. The disclosure for this sale can be found here. 0.90% 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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