Northpointe Capital LLC bought a new stake in Aetna Inc. (NYSE:AET) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,122 shares of the company’s stock, valued at approximately $1,969,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC increased its position in shares of Aetna by 40.5% in the first quarter. Lazard Asset Management LLC now owns 2,373,143 shares of the company’s stock valued at $266,622,000 after buying an additional 684,597 shares in the last quarter. Bridger Management LLC purchased a new stake in Aetna during the first quarter valued at about $62,926,000. UBS Asset Management Americas Inc. increased its stake in Aetna by 17.3% in the first quarter. UBS Asset Management Americas Inc. now owns 2,505,480 shares of the company’s stock valued at $281,491,000 after buying an additional 368,876 shares during the period. Bank of Montreal Can purchased a new stake in Aetna during the second quarter valued at about $39,500,000. Finally, Credit Agricole S A increased its stake in Aetna by 131.4% in the first quarter. Credit Agricole S A now owns 503,383 shares of the company’s stock valued at $56,556,000 after buying an additional 285,873 shares during the period. Institutional investors own 91.95% of the company’s stock.
Shares of Aetna Inc. (NYSE:AET) traded down 0.24% during trading on Friday, reaching $113.72. The company’s stock had a trading volume of 1,873,315 shares. The stock has a market cap of $39.89 billion, a P/E ratio of 16.66 and a beta of 0.54. Aetna Inc. has a 12-month low of $92.42 and a 12-month high of $123.57. The stock’s 50-day moving average is $116.09 and its 200-day moving average is $115.79.
Aetna (NYSE:AET) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $2.21 EPS for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.09. Aetna had a return on equity of 16.44% and a net margin of 3.89%. The firm earned $15.95 billion during the quarter, compared to analyst estimates of $15.69 billion. During the same period last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Thursday, October 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, October 11th. Aetna’s payout ratio is currently 14.73%.
Several research firms recently issued reports on AET. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Tuesday. Evercore ISI began coverage on Aetna in a research note on Thursday, September 22nd. They issued a “buy” rating and a $128.00 price target for the company. Credit Suisse Group AG restated a “hold” rating and issued a $120.00 price target on shares of Aetna in a research note on Tuesday, September 13th. Jefferies Group restated a “hold” rating on shares of Aetna in a research note on Tuesday, September 6th. Finally, Leerink Swann restated an “outperform” rating on shares of Aetna in a research note on Wednesday, August 24th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $132.43.
In other news, insider Shawn M. Guertin sold 45,328 shares of the firm’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 transaction, the insider now directly owns 44,883 shares of the company’s stock, valued at $5,395,385.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey E. Garten sold 7,100 shares of the firm’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 disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
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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