Wetherby Asset Management Inc. Has $970,000 Stake in Aetna Inc. (AET)
Wetherby Asset Management Inc. increased its position in Aetna Inc. (NYSE:AET) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,387 shares of the company’s stock after buying an additional 118 shares during the period. Wetherby Asset Management Inc.’s holdings in Aetna were worth $970,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in AET. Canada Pension Plan Investment Board boosted its position in shares of Aetna by 67.4% in the second quarter. Canada Pension Plan Investment Board now owns 628,133 shares of the company’s stock worth $95,369,000 after buying an additional 253,000 shares during the period. Solaris Asset Management LLC boosted its position in shares of Aetna by 0.8% in the second quarter. Solaris Asset Management LLC now owns 32,281 shares of the company’s stock worth $4,901,000 after buying an additional 255 shares during the period. Global X Management Co. LLC boosted its position in shares of Aetna by 7.8% in the second quarter. Global X Management Co. LLC now owns 7,828 shares of the company’s stock worth $1,189,000 after buying an additional 569 shares during the period. HL Financial Services LLC boosted its position in shares of Aetna by 2.0% in the second quarter. HL Financial Services LLC now owns 5,343 shares of the company’s stock worth $811,000 after buying an additional 103 shares during the period. Finally, Advisor Partners LLC boosted its position in shares of Aetna by 27.8% in the second quarter. Advisor Partners LLC now owns 9,584 shares of the company’s stock worth $1,455,000 after buying an additional 2,086 shares during the period. 91.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Aetna Inc. (NYSE 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 firm has a 50-day moving average price of $154.26 and a 200 day moving average price of $139.02. The company has a market capitalization of $50.53 billion, a P/E ratio of 33.77 and a beta of 0.54.
Aetna (NYSE:AET) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.34 by $1.08. The firm had revenue of $15.52 billion during the quarter, compared to analysts’ expectations of $15.34 billion. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. On average, equities research analysts predict that Aetna Inc. will post $9.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders 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 payout ratio is 43.67%.
A number of brokerages have commented on AET. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price target (up from $150.00) on shares of Aetna in a research note on Wednesday. Deutsche Bank AG boosted their target price on Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Jefferies Group LLC reissued a “hold” rating and set a $163.00 target price (up from $157.00) on shares of Aetna in a research note on Friday, August 4th. Royal Bank Of Canada boosted their target price on Aetna from $162.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, BidaskClub cut Aetna from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Aetna currently has a consensus rating of “Buy” and an average price target of $157.09.
In other news, Chairman Mark T. Bertolini sold 103,547 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $140.79, for a total value of $14,578,382.13. Following the completion of the sale, the chairman now owns 659,888 shares of the company’s stock, valued at approximately $92,905,631.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the firm’s 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 sale, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at approximately $5,008,606.49. The disclosure for this sale can be found here. 0.90% of the stock is owned by company 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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