Cigna Investments Inc. New Lowers Position in Aetna Inc. (AET)
Cigna Investments Inc. New decreased its stake in shares of Aetna Inc. (NYSE:AET) by 9.9% during the second quarter, Holdings Channel reports. The fund owned 12,865 shares of the company’s stock after selling 1,413 shares during the period. Cigna Investments Inc. New’s holdings in Aetna were worth $1,953,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Highland Capital Management LLC increased its stake in shares of Aetna by 5.3% in the first quarter. Highland Capital Management LLC now owns 41,936 shares of the company’s stock valued at $5,349,000 after buying an additional 2,106 shares during the period. Adirondack Trust Co. increased its stake in shares of Aetna by 5.7% in the first quarter. Adirondack Trust Co. now owns 2,398 shares of the company’s stock valued at $306,000 after buying an additional 130 shares during the period. TNB Financial purchased a new stake in shares of Aetna during the first quarter valued at $584,000. Horan Capital Management purchased a new stake in shares of Aetna during the first quarter valued at $157,000. Finally, Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Aetna during the first quarter valued at $1,797,000. 91.73% of the stock is currently owned by institutional investors.
Aetna Inc. (NYSE:AET) opened at 152.42 on Friday. The firm has a 50-day moving average of $154.28 and a 200 day moving average of $138.79. The firm has a market capitalization of $50.62 billion, a price-to-earnings ratio of 33.83 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 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $1.08. The business had revenue of $15.52 billion during the quarter, compared to the consensus estimate of $15.34 billion. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 earnings per share. On average, equities analysts predict that Aetna Inc. will post $9.46 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Thursday, July 13th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend 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 (DPR) is presently 43.67%.
AET has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $150.00 target price (up from $130.00) on shares of Aetna in a research note on Wednesday, May 3rd. Royal Bank Of Canada raised their target price on shares of Aetna from $147.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, June 9th. BidaskClub downgraded 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 company a “hold” rating in a research note on Monday. Finally, UBS AG reiterated a “buy” rating and set a $160.00 price objective (up from $147.00) on shares of Aetna in a research note on Wednesday, May 17th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Aetna presently has a consensus rating of “Buy” and a consensus target price of $157.09.
In other news, Chairman Mark T. Bertolini sold 103,547 shares of Aetna stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $140.79, for a total transaction of $14,578,382.13. Following the completion of the sale, the chairman now directly owns 659,888 shares in the company, valued at $92,905,631.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margaret M. Mccarthy sold 27,028 shares of Aetna stock in a transaction dated 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 sale, the executive vice president now owns 33,563 shares of the company’s stock, valued at $5,008,606.49. The disclosure for this sale can be found here. 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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