Legal & General Group Plc Cuts Stake in Aetna Inc. (AET)
Legal & General Group Plc lowered its stake in shares of Aetna Inc. (NYSE:AET) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,812,644 shares of the company’s stock after selling 20,535 shares during the period. Legal & General Group Plc owned about 0.56% of Aetna worth $288,192,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in AET. State of Tennessee Treasury Department grew its stake in Aetna by 26.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 557,814 shares of the company’s stock valued at $84,692,000 after acquiring an additional 116,280 shares in the last quarter. Banque Pictet & Cie SA purchased a new stake in Aetna during the 2nd quarter valued at about $10,567,000. Pictet & Cie Europe SA purchased a new stake in Aetna during the 2nd quarter valued at about $2,269,000. NBT Bank N A NY purchased a new stake in Aetna during the 2nd quarter valued at about $215,000. Finally, Prudential Financial Inc. grew its stake in Aetna by 3.6% during the 3rd quarter. Prudential Financial Inc. now owns 1,089,269 shares of the company’s stock valued at $173,205,000 after acquiring an additional 38,223 shares in the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.
In other Aetna news, President Karen S. Lynch sold 15,271 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $161.91, for a total value of $2,472,527.61. Following the sale, the president now directly owns 64,261 shares of the company’s stock, valued at approximately $10,404,498.51. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 33,563 shares in the company, valued at $5,465,734.55. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Shares of Aetna Inc. (AET) opened at $176.46 on Monday. The stock has a market cap of $57,543.61, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. Aetna Inc. has a fifty-two week low of $116.04 and a fifty-two week high of $184.98. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52.
Aetna (NYSE:AET) last released its earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.39. The company had revenue of $14.99 billion for the quarter, compared to analyst estimates of $15.12 billion. Aetna had a net margin of 2.93% and a return on equity of 21.84%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 EPS. equities analysts predict that Aetna Inc. will post 9.78 earnings per share for the current year.
Several analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target (up previously from $150.00) on shares of Aetna in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of Aetna from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $163.00 price target (up previously from $157.00) on shares of Aetna in a research note on Friday, August 4th. Deutsche Bank AG increased their price target on shares of Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Finally, Royal Bank Of Canada increased their price target on shares of Aetna from $162.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Aetna presently has a consensus rating of “Buy” and a consensus price target of $172.36.
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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