Louisiana State Employees Retirement System Cuts Stake in Aetna Inc. (AET)
Louisiana State Employees Retirement System cut its position in Aetna Inc. (NYSE:AET) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 23,000 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Aetna were worth $2,809,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its position in Aetna by 304.8% in the second quarter. Hartford Financial Management Inc. now owns 850 shares of the company’s stock worth $101,000 after buying an additional 640 shares during the period. FirstMerit Bank N A Trustee acquired a new position in Aetna during the second quarter worth $200,000. Pennsylvania Trust Co acquired a new position in Aetna during the second quarter worth $221,000. Atria Investments LLC acquired a new position in Aetna during the second quarter worth $222,000. Finally, Simmons Bank acquired a new position in Aetna during the first quarter worth $223,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.
Aetna Inc. (NYSE:AET) traded down 0.20% during midday trading on Monday, hitting $114.83. 997,284 shares of the stock traded hands. The company’s 50-day moving average is $117.38 and its 200-day moving average is $115.44. The company has a market cap of $40.28 billion, a PE ratio of 16.83 and a beta of 0.62. Aetna Inc. has a one year low of $92.42 and a one year high of $123.57.
Aetna (NYSE:AET) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.09. The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.69 billion. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Equities research analysts expect that Aetna Inc. will post $8.05 EPS for the current fiscal year.
A number of research analysts have weighed in on AET shares. Zacks Investment Research raised shares of Aetna from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research note on Tuesday, July 19th. Morgan Stanley restated a “buy” rating on shares of Aetna in a report on Tuesday, June 14th. Wells Fargo & Co. restated a “buy” rating on shares of Aetna in a report on Thursday, June 2nd. Leerink Swann restated a “buy” rating and set a $135.00 price target on shares of Aetna in a report on Thursday, August 4th. Finally, FBR & Co restated a “hold” rating and set a $135.00 price target on shares of Aetna in a report on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Aetna currently has an average rating of “Buy” and an average target price of $133.15.
In other Aetna news, insider Shawn M. Guertin sold 45,328 shares of the 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 transaction, the insider now owns 44,883 shares of the company’s stock, valued at $5,395,385.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey E. Garten sold 7,100 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $116.51, for a total transaction of $827,221.00. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
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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