Seven Bridges Advisors LLC Buys 1,768 Shares of Aetna Inc. (AET)
Seven Bridges Advisors LLC increased its stake in shares of Aetna Inc. (NYSE:AET) by 234.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,523 shares of the company’s stock after buying an additional 1,768 shares during the period. Seven Bridges Advisors LLC’s holdings in Aetna were worth $308,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Virginia Retirement System bought a new stake in shares of Aetna during the first quarter valued at about $26,161,000. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Aetna during the first quarter valued at $859,000. Aperio Group LLC increased its stake in shares of Aetna by 5.6% in the first quarter. Aperio Group LLC now owns 207,366 shares of the company’s stock valued at $23,298,000 after buying an additional 10,912 shares in the last quarter. Commonwealth Equity Services Inc increased its stake in shares of Aetna by 1.2% in the first quarter. Commonwealth Equity Services Inc now owns 38,640 shares of the company’s stock valued at $4,341,000 after buying an additional 456 shares in the last quarter. Finally, Telemus Capital LLC acquired a new stake in shares of Aetna during the first quarter valued at $482,000. 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, hitting $116.69. The stock had a trading volume of 1,760,923 shares. Aetna Inc. has a 52 week low of $92.42 and a 52 week high of $123.57. The stock’s 50 day moving average price is $117.42 and its 200-day moving average price is $115.50. The company has a market cap of $40.93 billion, a PE ratio of 17.10 and a beta of 0.62.
Aetna (NYSE:AET) last released its earnings results on Tuesday, August 2nd. The company reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.09. The firm earned $15.95 billion during the quarter, compared to analyst estimates of $15.69 billion. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 EPS. Equities research analysts predict that Aetna Inc. will post $8.05 earnings per share for the current year.
Several analysts have recently weighed in on the company. Wells Fargo & Co. restated a “buy” rating on shares of Aetna in a research note on Thursday, June 2nd. Zacks Investment Research downgraded Aetna from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. FBR & Co restated a “hold” rating on shares of Aetna in a research note on Wednesday, August 17th. Jefferies Group restated a “hold” rating on shares of Aetna in a research note on Tuesday, September 6th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $120.00 target price on shares of Aetna in a research note on Tuesday, September 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Aetna currently has a consensus rating of “Buy” and a consensus target price of $133.15.
In other news, Director Jeffrey E. Garten sold 7,100 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total transaction of $827,221.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Shawn M. Guertin sold 45,328 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was 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 in the company, valued at approximately $5,395,385.43. The disclosure for this sale can be found here. Company 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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