Artisan Partners Limited Partnership Decreases Holdings in Aetna Inc. (AET)
Artisan Partners Limited Partnership lowered its position in Aetna Inc. (NYSE:AET) by 0.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 222,494 shares of the company’s stock after selling 1,617 shares during the period. Artisan Partners Limited Partnership owned 0.07% of Aetna worth $33,781,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Bruderman Asset Management LLC purchased a new position in Aetna in the 2nd quarter valued at $106,000. Liberty Capital Management Inc. lifted its holdings in Aetna by 206.9% in the 2nd quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after purchasing an additional 629 shares in the last quarter. Deschutes Portfolio Strategy LLC purchased a new position in Aetna in the 2nd quarter valued at $200,000. Guardian Life Insurance Co. of America lifted its holdings in Aetna by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after purchasing an additional 9 shares in the last quarter. Finally, Wagner Bowman Management Corp purchased a new position in Aetna in the 2nd quarter valued at $205,000. Institutional investors own 89.52% of the company’s stock.
Aetna Inc. (NYSE:AET) opened at 155.19 on Wednesday. Aetna Inc. has a 52-week low of $104.59 and a 52-week high of $164.52. The firm has a 50-day moving average price of $157.50 and a 200 day moving average price of $145.70. The firm has a market capitalization of $51.54 billion, a P/E ratio of 34.45 and a beta of 0.53.
Aetna (NYSE:AET) last released its earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $15.52 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts forecast that Aetna Inc. will post $9.55 EPS for the current year.
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In related news, EVP Margaret M. Mccarthy sold 10,288 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $162.85, for a total transaction of $1,675,400.80. Following the transaction, the executive vice president now directly owns 33,563 shares in the company, valued at $5,465,734.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.14% of the company’s stock.
Several research firms have recently commented on AET. Argus reiterated a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Aetna in a report on Tuesday, May 30th. ValuEngine upgraded Aetna from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub lowered Aetna from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Deutsche Bank AG lifted their price target on Aetna from $144.00 to $157.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. Finally, Cowen and Company set a $170.00 price target on Aetna and gave the stock a “buy” rating in a report on Saturday, May 27th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $159.04.
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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