Aetna Inc. (AET) Shares Sold by Grimes & Company Inc.
Grimes & Company Inc. cut its stake in shares of Aetna Inc. (NYSE:AET) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 48,061 shares of the company’s stock after selling 550 shares during the period. Grimes & Company Inc.’s holdings in Aetna were worth $5,870,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC increased its position in Aetna by 0.3% in the second quarter. DAVENPORT & Co LLC now owns 5,761 shares of the company’s stock valued at $704,000 after buying an additional 18 shares during the last quarter. Rehmann Capital Advisory Group increased its position in Aetna by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 2,209 shares of the company’s stock valued at $270,000 after buying an additional 26 shares during the last quarter. Apex Capital Management increased its position in Aetna by 0.5% in the first quarter. Apex Capital Management now owns 5,574 shares of the company’s stock valued at $626,000 after buying an additional 27 shares during the last quarter. Evanson Asset Management LLC increased its position in Aetna by 2.6% in the second quarter. Evanson Asset Management LLC now owns 1,951 shares of the company’s stock valued at $238,000 after buying an additional 50 shares during the last quarter. Finally, Pitcairn Co. increased its position in Aetna by 1.1% in the second quarter. Pitcairn Co. now owns 5,229 shares of the company’s stock valued at $639,000 after buying an additional 55 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Aetna Inc. (NYSE:AET) traded down 0.17% on Tuesday, reaching $114.63. The company had a trading volume of 959,900 shares. The company has a 50 day moving average price of $117.39 and a 200 day moving average price of $115.49. The stock has a market capitalization of $40.21 billion, a PE ratio of 16.80 and a beta of 0.62. Aetna Inc. has a 52-week low of $92.42 and a 52-week high of $123.57.
Aetna (NYSE:AET) last released its earnings results on Tuesday, August 2nd. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.09. The firm earned $15.95 billion during the quarter, compared to the consensus estimate of $15.69 billion. Aetna had a return on equity of 16.44% and a net margin of 3.89%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 earnings per share. On average, equities research analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current year.
Several research firms recently weighed in on AET. Leerink Swann reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Aetna in a research note on Thursday, August 4th. Zacks Investment Research cut Aetna from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Morgan Stanley reiterated a “buy” rating on shares of Aetna in a report on Tuesday, June 14th. FBR & Co reiterated a “hold” rating on shares of Aetna in a report on Wednesday, August 17th. Finally, Sanford C. Bernstein started coverage on Aetna in a report on Thursday, June 16th. They set an “outperform” rating and a $142.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $133.15.
In other Aetna news, Director Jeffrey E. Garten sold 7,100 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $116.51, for a total value of $827,221.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn M. Guertin sold 45,328 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $120.21, for a total value of $5,448,878.88. Following the completion of the transaction, the insider now directly owns 44,883 shares in the company, valued at approximately $5,395,385.43. 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. 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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