Tower Research Capital LLC TRC cut its position in Aetna Inc. (NYSE:AET) by 92.7% during the second quarter, Holdings Channel reports. The fund owned 844 shares of the company’s stock after selling 10,744 shares during the period. Tower Research Capital LLC TRC’s holdings in Aetna were worth $103,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of AET. Wexford Capital LP bought a new stake in shares of Aetna during the first quarter worth approximately $494,000. Credit Agricole S A increased its stake in shares of Aetna by 131.4% in the first quarter. Credit Agricole S A now owns 503,383 shares of the company’s stock worth $56,556,000 after buying an additional 285,873 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Aetna by 12.3% in the first quarter. Canada Pension Plan Investment Board now owns 268,304 shares of the company’s stock worth $30,144,000 after buying an additional 29,300 shares during the last quarter. Pegasus Partners Ltd. bought a new stake in shares of Aetna during the first quarter worth approximately $645,000. Finally, Lazard Asset Management LLC increased its stake 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 worth $266,622,000 after buying an additional 684,597 shares during the last quarter. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Shares of Aetna Inc. (NYSE:AET) opened at 109.64 on Friday. Aetna Inc. has a 1-year low of $92.42 and a 1-year high of $123.57. The firm has a market cap of $38.46 billion, a PE ratio of 16.07 and a beta of 0.54. The firm’s 50-day moving average price is $114.96 and its 200 day moving average price is $115.74.
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 the 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 the consensus estimate of $15.69 billion. During the same period in the prior year, the firm earned $2.05 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Aetna Inc. will post $8.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Thursday, October 13th will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. Aetna’s payout ratio is currently 14.73%.
AET has been the topic of a number of recent research reports. Leerink Swann restated an “outperform” rating on shares of Aetna in a research note on Tuesday, June 21st. Wolfe Research initiated coverage on Aetna in a research note on Tuesday, June 28th. They issued an “outperform” rating and a $154.00 target price on the stock. Credit Suisse Group AG restated a “hold” rating and issued a $120.00 target price on shares of Aetna in a research note on Wednesday, June 29th. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research note on Tuesday, July 19th. Finally, FBR & Co reiterated a “hold” rating and set a $135.00 price target on shares of Aetna in a research report on Thursday, August 4th. Six 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 price target of $132.43.
In other Aetna news, insider Shawn M. Guertin sold 45,328 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 44,883 shares of the company’s stock, valued at approximately $5,395,385.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey E. Garten sold 7,100 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total transaction of $827,221.00. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company 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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