Aetna Inc. (AET) Stake Raised by IFP Advisors Inc
IFP Advisors Inc lifted its position in shares of Aetna Inc. (NYSE:AET) by 58.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,443 shares of the company’s stock after buying an additional 2,384 shares during the quarter. IFP Advisors Inc’s holdings in Aetna were worth $1,024,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of AET. Bruderman Asset Management LLC acquired a new stake in shares of Aetna during the second quarter worth $106,000. Liberty Capital Management Inc. increased its position in shares of Aetna by 206.9% during the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock worth $144,000 after buying an additional 629 shares during the period. Westside Investment Management Inc. boosted its stake in Aetna by 53.5% during the second quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock worth $177,000 after acquiring an additional 400 shares in the last quarter. Phocas Financial Corp. bought a new position in Aetna during the second quarter worth $182,000. Finally, Highstreet Asset Management Inc. boosted its stake in Aetna by 105.5% during the third quarter. Highstreet Asset Management Inc. now owns 1,243 shares of the company’s stock worth $198,000 after acquiring an additional 638 shares in the last quarter. Institutional investors own 89.45% of the company’s stock.
Several research analysts recently issued reports on the stock. Jefferies Group LLC increased their target price on shares of Aetna from $165.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Aetna from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup Inc increased their target price on shares of Aetna from $183.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price (up from $150.00) on shares of Aetna in a research note on Wednesday, August 9th. Finally, Credit Suisse Group assumed coverage on shares of Aetna in a research note on Thursday. They set a “neutral” rating and a $174.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $168.78.
Aetna Inc. (NYSE AET) opened at $176.99 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.52. The stock has a market cap of $56.19 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.57 and a beta of 0.61.
Aetna (NYSE:AET) last released its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. Aetna had a net margin of 2.93% and a return on equity of 21.84%. The company had revenue of $14.99 billion for the quarter, compared to analyst estimates of $15.12 billion. During the same period last year, the firm earned $2.07 earnings per share. The firm’s revenue was down 5.0% on a year-over-year basis. equities analysts anticipate that Aetna Inc. will post 9.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, October 12th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, October 11th. Aetna’s payout ratio is currently 37.04%.
In related news, EVP Margaret M. Mccarthy sold 10,288 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $162.85, for a total transaction of $1,675,400.80. Following the transaction, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at $5,465,734.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Karen S. Lynch sold 15,271 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $161.91, for a total transaction of $2,472,527.61. Following the transaction, the president now directly owns 64,261 shares in the company, valued at $10,404,498.51. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
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Aetna Inc is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers’ compensation administrative services and health information technology (HIT) products and services.
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