Aetna Inc. (AET) Stake Decreased by Acadian Asset Management LLC
Acadian Asset Management LLC cut its stake in Aetna Inc. (NYSE:AET) by 8.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,590 shares of the company’s stock after selling 494 shares during the period. Acadian Asset Management LLC’s holdings in Aetna were worth $849,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Carroll Financial Associates Inc. boosted its stake in shares of Aetna by 832.6% in the second quarter. Carroll Financial Associates Inc. now owns 6,808 shares of the company’s stock valued at $1,033,000 after buying an additional 6,078 shares during the period. Berkshire Asset Management LLC PA boosted its stake in shares of Aetna by 3.5% in the second quarter. Berkshire Asset Management LLC PA now owns 4,173 shares of the company’s stock valued at $634,000 after buying an additional 140 shares during the period. Wagner Bowman Management Corp acquired a new stake in shares of Aetna during the second quarter valued at approximately $205,000. Hermes Investment Management Ltd. acquired a new stake in shares of Aetna during the second quarter valued at approximately $1,131,000. Finally, Financial Architects Inc boosted its stake in shares of Aetna by 1.8% in the second quarter. Financial Architects Inc now owns 1,746 shares of the company’s stock valued at $265,000 after buying an additional 31 shares during the period. 91.73% of the stock is owned by institutional investors and hedge funds.
Aetna Inc. (NYSE AET) traded down 0.28% during trading on Friday, reaching $152.00. The company’s stock had a trading volume of 975,404 shares. The company has a market cap of $50.48 billion, a P/E ratio of 33.74 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 company’s 50 day moving average price is $154.28 and its 200 day moving average price is $138.79.
Aetna (NYSE:AET) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 EPS 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 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 business posted $2.21 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that Aetna Inc. will post $9.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Thursday, July 13th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. Aetna’s dividend payout ratio is 43.67%.
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Several analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 target price (up previously from $150.00) on shares of Aetna in a research report on Wednesday. Deutsche Bank AG raised their target price on Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $163.00 target price (up previously from $157.00) on shares of Aetna in a research report on Friday, August 4th. Royal Bank Of Canada raised their target price on Aetna from $162.00 to $171.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, BidaskClub cut Aetna from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $157.09.
In other 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 completion of the transaction, the executive vice president now directly owns 33,563 shares in the company, valued at approximately $5,008,606.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction, the chairman now owns 659,888 shares of the company’s stock, valued at $92,905,631.52. The disclosure for this sale can be found here. Corporate insiders own 0.90% 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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