Credit Suisse Group Initiates Coverage on Aetna Inc. (AET)
Stock analysts at Credit Suisse Group initiated coverage on shares of Aetna Inc. (NYSE:AET) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating and a $174.00 price target on the stock. Credit Suisse Group’s price target indicates a potential downside of 1.69% from the company’s current price.
Other analysts also recently issued reports about the company. BidaskClub downgraded Aetna from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Argus reiterated a “buy” rating and set a $185.00 price target (up from $165.00) on shares of Aetna in a report on Tuesday, September 12th. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a report on Thursday, October 12th. Citigroup Inc. raised their target price on Aetna from $183.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Group LLC raised their target price on Aetna from $163.00 to $165.00 and gave the company a “hold” rating in a research note on Friday, October 13th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Aetna currently has a consensus rating of “Buy” and a consensus price target of $170.34.
Shares of Aetna (NYSE:AET) traded up $4.67 during trading on Thursday, reaching $176.99. The company’s stock had a trading volume of 5,650,000 shares, compared to its average volume of 2,701,255. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.48 and a current ratio of 0.53. Aetna has a 52-week low of $105.39 and a 52-week high of $184.98. The firm has a market cap of $57,716.44, a P/E ratio of 17.33, a P/E/G ratio of 1.61 and a beta of 0.61.
Aetna (NYSE:AET) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.39. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The firm had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $15.12 billion. During the same period last year, the business posted $2.07 EPS. The business’s revenue was down 5.0% compared to the same quarter last year. analysts forecast that Aetna will post 9.79 earnings per share for the current fiscal year.
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In related news, EVP Margaret M. Mccarthy sold 10,288 shares of Aetna stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $162.85, for a total value of $1,675,400.80. Following the sale, the executive vice president now owns 33,563 shares of the company’s stock, valued at approximately $5,465,734.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the president now directly owns 64,261 shares in the company, valued at approximately $10,404,498.51. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Several large investors have recently bought and sold shares of AET. Guardian Life Insurance Co. of America raised its holdings in Aetna by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after acquiring an additional 9 shares during the period. Marshall Wace North America L.P. bought a new stake in Aetna during the 1st quarter valued at $16,237,000. Menta Capital LLC bought a new stake in Aetna during the 1st quarter valued at $579,000. Aviance Capital Partners LLC raised its holdings in Aetna by 34.9% during the 1st quarter. Aviance Capital Partners LLC now owns 9,212 shares of the company’s stock valued at $1,175,000 after acquiring an additional 2,382 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in Aetna by 8.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,107 shares of the company’s stock valued at $2,820,000 after acquiring an additional 1,710 shares during the period. 89.45% of the stock is currently owned by institutional investors.
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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