Alps Advisors Inc. raised its stake in shares of Aetna Inc. (NYSE:AET) by 20.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,996 shares of the company’s stock after buying an additional 862 shares during the period. Alps Advisors Inc.’s holdings in Aetna were worth $610,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Hartford Financial Management Inc. increased its stake in Aetna by 304.8% in the second quarter. Hartford Financial Management Inc. now owns 850 shares of the company’s stock valued at $101,000 after buying an additional 640 shares during the last quarter. FirstMerit Bank N A Trustee acquired a new stake in Aetna during the second quarter valued at about $200,000. Genesee Valley Trust Co. acquired a new stake in Aetna during the second quarter valued at about $203,000. Pennsylvania Trust Co acquired a new stake in Aetna during the second quarter valued at about $221,000. Finally, Atria Investments LLC acquired a new stake in Aetna during the second quarter valued at about $222,000. 91.95% of the stock is owned by institutional investors and hedge funds.
Shares of Aetna Inc. (NYSE:AET) traded up 0.37% during midday trading on Friday, reaching $115.45. The company had a trading volume of 1,839,122 shares. Aetna Inc. has a 12-month low of $92.42 and a 12-month high of $123.57. The company has a 50 day moving average of $116.86 and a 200 day moving average of $115.71. The firm has a market capitalization of $40.50 billion, a price-to-earnings ratio of 16.92 and a beta of 0.62.
Aetna (NYSE:AET) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $2.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.09. The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.69 billion. Aetna had a return on equity of 16.44% and a net margin of 3.89%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. Analysts anticipate that Aetna Inc. will post $8.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Thursday, October 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.87%. Aetna’s payout ratio is 14.73%.
Several analysts recently issued reports on AET shares. Morgan Stanley reissued a “buy” rating on shares of Aetna in a research report on Tuesday, June 14th. Zacks Investment Research raised shares of Aetna from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research report on Tuesday, July 19th. Leerink Swann reissued a “buy” rating and issued a $135.00 price target on shares of Aetna in a research report on Thursday, August 4th. Evercore ISI started coverage on Aetna in a research note on Thursday, September 22nd. They set a “buy” rating and a $128.00 price objective on the stock. Finally, FBR & Co restated a “hold” rating and set a $135.00 price objective on shares of Aetna in a research note on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $132.79.
In related 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 value of $827,221.00. The sale was disclosed in a legal 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 stock was sold at an average price of $120.21, for a total value of $5,448,878.88. Following the completion of the sale, 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. 0.90% of the stock is owned by corporate insiders.
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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