Water Island Capital LLC Boosts Stake in Aetna Inc (AET)
Water Island Capital LLC lifted its position in shares of Aetna Inc (NYSE:AET) by 224.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,787 shares of the company’s stock after buying an additional 104,337 shares during the quarter. Aetna comprises 1.7% of Water Island Capital LLC’s holdings, making the stock its 16th biggest position. Water Island Capital LLC’s holdings in Aetna were worth $27,200,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Advisors LLC increased its position in shares of Aetna by 3.3% in the fourth quarter. Cetera Advisors LLC now owns 8,715 shares of the company’s stock worth $1,573,000 after purchasing an additional 279 shares during the period. Hartford Investment Management Co. increased its position in shares of Aetna by 0.4% in the third quarter. Hartford Investment Management Co. now owns 79,409 shares of the company’s stock worth $12,627,000 after purchasing an additional 291 shares during the period. Essex Financial Services Inc. increased its position in shares of Aetna by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 13,787 shares of the company’s stock worth $2,487,000 after purchasing an additional 298 shares during the period. Violich Capital Management Inc. increased its position in shares of Aetna by 0.4% in the third quarter. Violich Capital Management Inc. now owns 70,375 shares of the company’s stock worth $11,190,000 after purchasing an additional 299 shares during the period. Finally, FCA Corp TX increased its position in shares of Aetna by 2.5% in the third quarter. FCA Corp TX now owns 12,530 shares of the company’s stock worth $1,992,000 after purchasing an additional 300 shares during the period. 84.88% of the stock is owned by institutional investors.
A number of brokerages recently commented on AET. ValuEngine upgraded Aetna from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Jefferies Group restated a “hold” rating and issued a $205.00 price target on shares of Aetna in a research report on Wednesday, January 31st. Credit Suisse Group raised their price target on Aetna from $200.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Citigroup cut Aetna from a “buy” rating to a “neutral” rating and raised their price target for the stock from $187.89 to $212.00 in a research report on Wednesday, January 31st. Finally, Cowen restated a “buy” rating and issued a $212.00 price target on shares of Aetna in a research report on Tuesday, January 30th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Aetna has an average rating of “Buy” and a consensus target price of $189.50.
Aetna (NYSE:AET) last released its earnings results on Tuesday, January 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.07. Aetna had a return on equity of 21.50% and a net margin of 3.15%. The firm had revenue of $14.74 billion for the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter in the previous year, the business posted $0.08 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. equities research analysts forecast that Aetna Inc will post 10.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Thursday, April 12th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, April 11th. Aetna’s dividend payout ratio is presently 33.06%.
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Aetna Company Profile
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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