Point72 Asia Hong Kong Ltd Invests $358,000 in Aetna (AET)
Point72 Asia Hong Kong Ltd bought a new position in shares of Aetna (NYSE:AET) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,120 shares of the company’s stock, valued at approximately $358,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its position in shares of Aetna by 263.6% during the first quarter. Cornerstone Advisors Inc. now owns 600 shares of the company’s stock worth $101,000 after acquiring an additional 435 shares during the last quarter. Focused Wealth Management Inc raised its position in shares of Aetna by 84.5% during the fourth quarter. Focused Wealth Management Inc now owns 655 shares of the company’s stock worth $118,000 after acquiring an additional 300 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Aetna during the first quarter worth $118,000. Centaurus Financial Inc. bought a new stake in shares of Aetna during the first quarter worth $128,000. Finally, Clearwater Capital Advisors LLC bought a new stake in shares of Aetna during the first quarter worth $154,000. Institutional investors own 84.99% of the company’s stock.
Aetna opened at $187.42 on Thursday, Marketbeat Ratings reports. Aetna has a 1 year low of $148.45 and a 1 year high of $194.40. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $59.55 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.54 and a beta of 0.62.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Wednesday, July 25th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 24th. This represents a $2.00 dividend on an annualized basis and a yield of 1.07%. Aetna’s payout ratio is 20.28%.
A number of research firms have recently weighed in on AET. Zacks Investment Research upgraded Aetna from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Cantor Fitzgerald upgraded Aetna from a “neutral” rating to an “overweight” rating in a research report on Tuesday, May 1st. ValuEngine downgraded Aetna from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Finally, Credit Suisse Group dropped their price objective on Aetna from $208.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, May 14th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $196.36.
Aetna Inc operates as a health care benefits company in the United States. It operates through three segments: Health Care, Group Insurance, and Large Case Pensions. The Health Care segment offers medical, pharmacy benefit management service, dental, behavioral health, and vision plans on an insured and employer-funded basis.
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