Aetna Inc. (AET) Stake Reduced by Conning Inc.
Conning Inc. decreased its stake in Aetna Inc. (NYSE:AET) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 8,531 shares of the company’s stock after selling 140 shares during the period. Conning Inc.’s holdings in Aetna were worth $1,295,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. FTB Advisors Inc. boosted its stake in Aetna by 11.0% in the first quarter. FTB Advisors Inc. now owns 977 shares of the company’s stock valued at $125,000 after buying an additional 97 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Aetna during the first quarter valued at approximately $133,000. Liberty Capital Management Inc. boosted its stake in Aetna by 206.9% in the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after buying an additional 629 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in Aetna by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after buying an additional 9 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new stake in Aetna during the first quarter valued at approximately $187,000. 91.69% of the stock is owned by institutional investors and hedge funds.
Shares of Aetna Inc. (AET) opened at 155.67 on Tuesday. The firm has a 50-day moving average price of $154.36 and a 200-day moving average price of $139.60. Aetna Inc. has a 52-week low of $104.59 and a 52-week high of $161.69. The stock has a market capitalization of $51.70 billion, a P/E ratio of 34.55 and a beta of 0.54.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $2.34 by $1.08. The firm had revenue of $15.52 billion for the quarter, compared to analysts’ expectations of $15.34 billion. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 EPS. On average, analysts predict that Aetna Inc. will post $9.52 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Thursday, July 13th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 11th. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. Aetna’s dividend payout ratio is currently 43.67%.
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A number of equities research analysts have commented on the company. Royal Bank Of Canada raised their price objective on Aetna from $162.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Jefferies Group LLC reissued a “hold” rating and issued a $163.00 price objective (up previously from $157.00) on shares of Aetna in a research note on Friday, August 4th. Deutsche Bank AG raised their price objective on Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective (up previously from $150.00) on shares of Aetna in a research note on Wednesday, August 9th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $165.00 price objective (up previously from $160.00) on shares of Aetna in a research note on Thursday, July 13th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Aetna currently has a consensus rating of “Buy” and an average target price of $157.09.
In related news, EVP Margaret M. Mccarthy sold 27,028 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $149.23, for a total value of $4,033,388.44. Following the transaction, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at approximately $5,008,606.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark T. Bertolini sold 103,547 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $140.79, for a total value of $14,578,382.13. Following the completion of the transaction, the chairman now directly owns 659,888 shares in the company, valued at $92,905,631.52. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company 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. 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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