Arrow Financial Corp Sells 300 Shares of Aetna Inc. (NYSE:AET)
Arrow Financial Corp reduced its stake in shares of Aetna Inc. (NYSE:AET) by 6.9% during the second quarter, Holdings Channel reports. The institutional investor owned 4,055 shares of the company’s stock after selling 300 shares during the period. Arrow Financial Corp’s holdings in Aetna were worth $615,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AET. FTB Advisors Inc. boosted its position 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Aetna during the first quarter valued at about $133,000. Liberty Capital Management Inc. boosted its position 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 in the last quarter. Horan Capital Management purchased a new position in shares of Aetna during the first quarter valued at about $157,000. Finally, Guardian Life Insurance Co. of America boosted its position 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 in the last quarter. 91.73% of the stock is currently owned by institutional investors.
Aetna Inc. (AET) opened at 152.15 on Friday. Aetna Inc. has a 12-month low of $104.59 and a 12-month high of $161.69. The stock has a market capitalization of $50.53 billion, a price-to-earnings ratio of 33.77 and a beta of 0.54. The firm has a 50-day moving average of $154.26 and a 200-day moving average of $139.02.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $15.52 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same quarter last year, the company posted $2.21 EPS. Aetna’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts forecast that Aetna Inc. will post $9.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Thursday, July 13th were given a $0.50 dividend. 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 (DPR) is 43.67%.
Several equities research analysts have commented on AET shares. Deutsche Bank AG boosted their target price on shares of Aetna from $144.00 to $157.00 and gave the stock a “hold” rating in a research report on Thursday, July 13th. Credit Suisse Group restated a “buy” rating and set a $155.00 target price on shares of Aetna in a research report on Wednesday, May 17th. Cowen and Company set a $170.00 target price on shares of Aetna and gave the stock a “buy” rating in a research report on Saturday, May 27th. Jefferies Group LLC restated a “hold” rating and set a $163.00 target price (up from $157.00) on shares of Aetna in a research report on Friday, August 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price (up from $150.00) on shares of Aetna in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $157.09.
In related 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 value of $4,033,388.44. Following the completion of the transaction, the executive vice president now owns 33,563 shares in the company, valued at approximately $5,008,606.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the chairman now owns 659,888 shares of the company’s stock, valued at approximately $92,905,631.52. The disclosure for this sale can be found here. Company 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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