Bank of Hawaii Decreases Position in Aetna Inc. (AET)
Bank of Hawaii decreased its stake in shares of Aetna Inc. (NYSE:AET) by 4.1% during the first quarter, Holdings Channel reports. The firm owned 10,847 shares of the company’s stock after selling 466 shares during the period. Bank of Hawaii’s holdings in Aetna were worth $1,384,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Aetna by 1.5% in the fourth quarter. State Street Corp now owns 21,626,000 shares of the company’s stock valued at $2,681,846,000 after buying an additional 313,689 shares during the period. Glenview Capital Management LLC purchased a new position in shares of Aetna during the fourth quarter valued at about $644,116,000. Bank of New York Mellon Corp boosted its position in shares of Aetna by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 4,378,982 shares of the company’s stock valued at $558,540,000 after buying an additional 165,278 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Aetna by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,940,561 shares of the company’s stock valued at $488,684,000 after buying an additional 11,925 shares during the period. Finally, Davis Selected Advisers boosted its position in shares of Aetna by 161.7% in the fourth quarter. Davis Selected Advisers now owns 3,937,198 shares of the company’s stock valued at $488,252,000 after buying an additional 2,432,885 shares during the period. Institutional investors own 91.91% of the company’s stock.
Shares of Aetna Inc. (AET) opened at 150.59 on Friday. Aetna Inc. has a 12 month low of $104.59 and a 12 month high of $150.99. The firm has a market cap of $49.95 billion, a PE ratio of 45.93 and a beta of 0.48. The stock has a 50 day moving average price of $144.12 and a 200 day moving average price of $131.19.
Aetna (NYSE:AET) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $2.71 EPS for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.35. Aetna had a net margin of 1.84% and a return on equity of 17.75%. The business had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $15.39 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts expect that Aetna Inc. will post $8.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Thursday, July 13th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, July 11th. Aetna’s dividend payout ratio is currently 62.31%.
Several equities analysts have recently issued reports on AET shares. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 price target (up from $130.00) on shares of Aetna in a research report on Wednesday, May 3rd. Royal Bank Of Canada lifted their price target on Aetna from $147.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, June 9th. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Tuesday, April 4th. Cantor Fitzgerald reiterated a “buy” rating and set a $150.00 price target on shares of Aetna in a research report on Friday, May 12th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $168.00 price target (up from $160.00) on shares of Aetna in a research report on Wednesday, May 17th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $147.99.
In related news, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $149.23, for a total value of $4,033,388.44. Following the completion of the sale, the executive vice president now owns 33,563 shares in the company, valued at approximately $5,008,606.49. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $140.79, for a total transaction of $14,578,382.13. Following the completion of the sale, the chairman now owns 659,888 shares of the company’s stock, valued at approximately $92,905,631.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,177 shares of company stock valued at $22,440,789. 0.90% of the stock is owned by corporate 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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