Cambria Investment Management L.P. Takes $957,000 Position in Aetna Inc (AET)
Cambria Investment Management L.P. acquired a new stake in Aetna Inc (NYSE:AET) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,019 shares of the company’s stock, valued at approximately $957,000.
Several other hedge funds have also recently made changes to their positions in the company. Wedbush Securities Inc. grew its holdings in Aetna by 1.4% during the second quarter. Wedbush Securities Inc. now owns 3,779 shares of the company’s stock worth $574,000 after acquiring an additional 52 shares during the period. Calamos Wealth Management LLC grew its holdings in Aetna by 0.7% during the second quarter. Calamos Wealth Management LLC now owns 8,919 shares of the company’s stock worth $1,354,000 after acquiring an additional 65 shares during the period. Sigma Planning Corp grew its holdings in Aetna by 2.6% during the second quarter. Sigma Planning Corp now owns 2,702 shares of the company’s stock worth $410,000 after acquiring an additional 69 shares during the period. FCA Corp TX grew its holdings in Aetna by 0.7% during the second quarter. FCA Corp TX now owns 12,230 shares of the company’s stock worth $1,857,000 after acquiring an additional 80 shares during the period. Finally, Veritable L.P. grew its holdings in Aetna by 0.9% during the second quarter. Veritable L.P. now owns 10,763 shares of the company’s stock worth $1,634,000 after acquiring an additional 94 shares during the period. 88.01% of the stock is currently owned by institutional investors and hedge funds.
In related news, President Karen S. Lynch sold 15,271 shares of Aetna stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $161.91, for a total transaction of $2,472,527.61. Following the transaction, the president now owns 64,261 shares in the company, valued at $10,404,498.51. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Margaret M. Mccarthy sold 10,288 shares of Aetna stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $162.85, for a total value of $1,675,400.80. Following the transaction, the executive vice president now owns 33,563 shares in the company, valued at approximately $5,465,734.55. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
A number of equities analysts have issued reports on AET shares. Piper Jaffray Companies reiterated a “hold” rating and set a $187.00 price target on shares of Aetna in a research report on Friday, November 3rd. Zacks Investment Research downgraded Aetna from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Argus downgraded Aetna from a “buy” rating to a “hold” rating and set a $185.00 price target on the stock. in a research report on Wednesday, December 6th. BMO Capital Markets increased their price target on Aetna from $175.00 to $200.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Finally, Cantor Fitzgerald downgraded Aetna from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $175.19.
Aetna Inc (NYSE:AET) opened at $181.57 on Tuesday. The firm has a market capitalization of $59,601.46, a P/E ratio of 17.90, a PEG ratio of 1.67 and a beta of 0.61. Aetna Inc has a 1 year low of $116.04 and a 1 year high of $192.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.53 and a quick ratio of 0.53.
Aetna (NYSE:AET) last released its earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. The business had revenue of $14.99 billion for the quarter, compared to the consensus estimate of $15.12 billion. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. sell-side analysts expect that Aetna Inc will post 9.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Thursday, January 11th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, January 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.10%. Aetna’s dividend payout ratio (DPR) is presently 37.04%.
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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