Aetna Inc. (AET) Earns Hold Rating from Credit Suisse Group AG
A number of other research firms have also recently issued reports on AET. Jefferies Group restated a hold rating on shares of Aetna in a research note on Tuesday, September 6th. Leerink Swann restated an outperform rating on shares of Aetna in a research note on Wednesday, August 24th. FBR & Co restated a hold rating on shares of Aetna in a research note on Wednesday, August 17th. Zacks Investment Research cut shares of Aetna from a buy rating to a hold rating in a research note on Monday, August 8th. Finally, Wolfe Research cut shares of Aetna from an outperform rating to a peer perform rating in a research note on Thursday, July 21st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $133.15.
Aetna (NYSE:AET) opened at 115.06 on Tuesday. Aetna has a 52-week low of $92.42 and a 52-week high of $123.57. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of 16.86 and a beta of 0.62. The firm has a 50-day moving average of $117.58 and a 200-day moving average of $115.31.
Aetna (NYSE:AET) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.09. The firm earned $15.95 billion during the quarter, compared to analysts’ expectations of $15.69 billion. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. On average, equities research analysts forecast that Aetna will post $8.05 EPS for the current fiscal year.
In related news, Director Jeffrey E. Garten sold 7,100 shares of Aetna stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total transaction of $827,221.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn M. Guertin sold 45,328 shares of Aetna stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $120.21, for a total transaction of $5,448,878.88. Following the sale, the insider now directly owns 44,883 shares in the company, valued at $5,395,385.43. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Several large investors have recently made changes to their positions in AET. Norges Bank bought a new stake in shares of Aetna during the fourth quarter valued at about $352,455,000. Alliancebernstein L.P. raised its stake in shares of Aetna by 16.3% in the second quarter. Alliancebernstein L.P. now owns 5,839,197 shares of the company’s stock valued at $713,141,000 after buying an additional 818,913 shares during the period. Lazard Asset Management LLC raised its stake in shares of Aetna by 40.5% in the first quarter. Lazard Asset Management LLC now owns 2,373,143 shares of the company’s stock valued at $266,622,000 after buying an additional 684,597 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Aetna during the second quarter valued at about $74,955,000. Finally, Brown Advisory Inc. raised its stake in shares of Aetna by 6,277.0% in the second quarter. Brown Advisory Inc. now owns 612,515 shares of the company’s stock valued at $74,807,000 after buying an additional 602,910 shares during the period. 91.84% of the stock is currently owned by institutional investors.
Aetna Inc is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. The Health Care segment’s products and services consist of medical, pharmacy benefit management services, dental, behavioral health and vision plans offered on both an insured basis and an employer-funded, or administrative services contact, basis and emerging businesses products and services, such as accountable care solutions (ACS).
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