First Allied Advisory Services Inc. Sells 8,104 Shares of Aetna Inc (AET)
First Allied Advisory Services Inc. decreased its position in Aetna Inc (NYSE:AET) by 64.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,508 shares of the company’s stock after selling 8,104 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Aetna were worth $716,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Bruderman Asset Management LLC purchased a new stake in Aetna in the second quarter worth about $106,000. Lloyds Banking Group plc purchased a new stake in Aetna in the third quarter worth about $106,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in Aetna in the third quarter worth about $116,000. Westside Investment Management Inc. increased its position in Aetna by 53.5% in the second quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock worth $177,000 after buying an additional 400 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new stake in Aetna in the second quarter worth about $182,000. 88.01% of the stock is currently owned by institutional investors.
AET has been the subject of a number of analyst reports. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research report on Thursday, October 12th. Argus cut Aetna from a “buy” rating to a “hold” rating and set a $185.00 price target for the company. in a research report on Wednesday, December 6th. Jefferies Group upped their price target on Aetna from $165.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. BMO Capital Markets began coverage on Aetna in a research report on Monday, October 16th. They issued a “market perform” rating and a $175.00 price target for the company. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $195.00 target price (up previously from $174.00) on shares of Aetna in a research report on Wednesday, December 6th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $175.19.
Shares of Aetna Inc (NYSE AET) opened at $181.33 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.53 and a current ratio of 0.53. Aetna Inc has a 1 year low of $116.04 and a 1 year high of $192.37. The stock has a market capitalization of $59,223.11, a PE ratio of 17.78, a P/E/G ratio of 1.65 and a beta of 0.61.
Aetna (NYSE:AET) last released its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. The business had revenue of $14.99 billion during the quarter, compared to analysts’ expectations of $15.12 billion. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. analysts forecast that Aetna Inc will post 9.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Thursday, January 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, January 10th. Aetna’s dividend payout ratio is presently 37.04%.
In other Aetna news, President Karen S. Lynch sold 15,271 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $161.91, for a total transaction of $2,472,527.61. Following the completion of the transaction, the president now owns 64,261 shares in the company, valued at approximately $10,404,498.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $162.85, for a total value of $1,675,400.80. Following the transaction, the executive vice president now owns 33,563 shares of the company’s stock, valued at approximately $5,465,734.55. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
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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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