Aetna Inc. (AET) Stake Boosted by PGGM Investments
PGGM Investments boosted its position in Aetna Inc. (NYSE:AET) by 54.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 794,893 shares of the company’s stock after buying an additional 280,978 shares during the period. PGGM Investments’ holdings in Aetna were worth $97,080,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its position in shares of Aetna by 304.8% in the second quarter. Hartford Financial Management Inc. now owns 850 shares of the company’s stock valued at $101,000 after buying an additional 640 shares in the last quarter. FirstMerit Bank N A Trustee bought a new position in shares of Aetna during the second quarter valued at approximately $200,000. Genesee Valley Trust Co. bought a new position in shares of Aetna during the second quarter valued at approximately $203,000. Pennsylvania Trust Co bought a new position in shares of Aetna during the second quarter valued at approximately $221,000. Finally, Atria Investments LLC bought a new position in shares of Aetna during the second quarter valued at approximately $222,000. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Aetna Inc. (NYSE:AET) traded up 1.80% during midday trading on Wednesday, reaching $116.69. The company’s stock had a trading volume of 1,760,923 shares. The company has a market capitalization of $40.93 billion, a price-to-earnings ratio of 17.10 and a beta of 0.62. The company’s 50-day moving average price is $117.42 and its 200-day moving average price is $115.50. Aetna Inc. has a 1-year low of $92.42 and a 1-year high of $123.57.
Aetna (NYSE:AET) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $2.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.09. Aetna had a return on equity of 16.44% and a net margin of 3.89%. The business earned $15.95 billion during the quarter, compared to the consensus estimate of $15.69 billion. During the same period in the previous year, the business earned $2.05 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
Several brokerages have commented on AET. Wells Fargo & Co. reiterated a “buy” rating on shares of Aetna in a research note on Thursday, June 2nd. Credit Suisse Group AG reiterated a “hold” rating and issued a $120.00 price target on shares of Aetna in a research note on Wednesday, August 3rd. Leerink Swann reiterated a “buy” rating and issued a $135.00 price target on shares of Aetna in a research note on Thursday, August 4th. Morgan Stanley reiterated a “buy” rating on shares of Aetna in a research note on Tuesday, June 14th. Finally, FBR & Co reiterated a “hold” rating and issued a $135.00 price target on shares of Aetna in a research note on Thursday, August 4th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Aetna presently has a consensus rating of “Buy” and a consensus target price of $133.15.
In other news, insider Shawn M. Guertin sold 45,328 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $120.21, for a total value of $5,448,878.88. Following the completion of the sale, the insider now directly owns 44,883 shares in the company, valued at approximately $5,395,385.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey E. Garten sold 7,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total value of $827,221.00. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
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. 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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