Huntington National Bank decreased its stake in Aetna Inc. (NYSE:AET) by 13.3% during the second quarter, Holdings Channel reports. The fund owned 7,927 shares of the company’s stock after selling 1,218 shares during the period. Huntington National Bank’s holdings in Aetna were worth $968,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of AET. Wexford Capital LP acquired a new position in shares of Aetna during the first quarter valued at about $494,000. Credit Agricole S A boosted 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. Canada Pension Plan Investment Board boosted its stake in Aetna by 12.3% in the first quarter. Canada Pension Plan Investment Board now owns 268,304 shares of the company’s stock valued at $30,144,000 after buying an additional 29,300 shares during the period. Pegasus Partners Ltd. purchased a new stake in Aetna during the first quarter valued at approximately $645,000. Finally, Lazard Asset Management LLC boosted its stake in 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 during the period. 91.94% of the stock is currently owned by institutional investors.
Shares of Aetna Inc. (NYSE:AET) traded down 1.05% during midday trading on Monday, hitting $108.49. 2,461,387 shares of the stock were exchanged. The stock has a market cap of $38.06 billion, a P/E ratio of 15.90 and a beta of 0.54. Aetna Inc. has a one year low of $92.42 and a one year high of $123.57. The stock’s 50-day moving average price is $114.71 and its 200 day moving average price is $115.74.
Aetna (NYSE:AET) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.09. The business earned $15.95 billion during the quarter, compared to the consensus estimate of $15.69 billion. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, analysts anticipate that Aetna Inc. will post $8.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Thursday, October 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, October 11th. Aetna’s payout ratio is currently 14.73%.
Several research firms have recently commented on AET. 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, August 3rd. Leerink Swann restated a “buy” rating and issued a $135.00 target price on shares of Aetna in a research note on Thursday, August 4th. FBR & Co restated a “hold” rating and issued a $135.00 target price on shares of Aetna in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of Aetna from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a research note on Tuesday, July 19th. Finally, Wolfe Research cut shares of Aetna from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 21st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $132.43.
In related 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 sale, the insider now 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 accessible through the SEC website. Also, Director Jeffrey E. Garten sold 7,100 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was 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 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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