Canandaigua National Bank & Trust Co. decreased its stake in shares of Aetna Inc. (NYSE:AET) by 3.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 11,004 shares of the company’s stock after selling 350 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Aetna were worth $1,344,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of AET. DAVENPORT & Co LLC boosted its position in shares of Aetna by 0.3% in the second quarter. DAVENPORT & Co LLC now owns 5,761 shares of the company’s stock valued at $704,000 after buying an additional 18 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Aetna by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 2,209 shares of the company’s stock valued at $270,000 after buying an additional 26 shares during the period. Apex Capital Management boosted its position in shares of Aetna by 0.5% in the first quarter. Apex Capital Management now owns 5,574 shares of the company’s stock valued at $626,000 after buying an additional 27 shares during the period. Evanson Asset Management LLC boosted its position in shares of Aetna by 2.6% in the second quarter. Evanson Asset Management LLC now owns 1,951 shares of the company’s stock valued at $238,000 after buying an additional 50 shares during the period. Finally, Pitcairn Co. boosted its position in shares of Aetna by 1.1% in the second quarter. Pitcairn Co. now owns 5,229 shares of the company’s stock valued at $639,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 91.95% of the company’s stock.
Shares of Aetna Inc. (NYSE:AET) traded up 1.80% during mid-day trading on Wednesday, hitting $116.69. The stock had a trading volume of 1,760,923 shares. The company has a market cap of $40.93 billion, a PE ratio of 17.10 and a beta of 0.62. The stock’s 50-day moving average is $117.42 and its 200 day moving average is $115.50. Aetna Inc. has a 12 month low of $92.42 and a 12 month high of $123.57.
Aetna (NYSE:AET) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.09. The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.69 billion. Aetna had a return on equity of 16.44% and a net margin of 3.89%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. On average, equities research analysts forecast that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. Leerink Swann restated a “buy” rating and set a $135.00 price objective on shares of Aetna in a research note on Thursday, August 4th. Zacks Investment Research lowered Aetna from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Morgan Stanley reaffirmed a “buy” rating on shares of Aetna in a research report on Tuesday, June 14th. FBR & Co reaffirmed a “hold” rating on shares of Aetna in a research report on Wednesday, August 17th. Finally, Sanford C. Bernstein assumed coverage on Aetna in a research report on Thursday, June 16th. They set an “outperform” rating and a $142.00 target price for the company. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $133.15.
In other news, Director Jeffrey E. Garten sold 7,100 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $116.51, for a total transaction of $827,221.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shawn M. Guertin sold 45,328 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $120.21, for a total value of $5,448,878.88. Following the transaction, the insider now directly owns 44,883 shares in the company, valued at $5,395,385.43. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
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. The Health Care segment’s products and services consist of medical, pharmacy benefit management services, dental, behavioral health and vision plans offered on both an insured basis and an employer-funded, or administrative services contact, basis and emerging businesses products and services, such as accountable care solutions (ACS).
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