Penobscot Investment Management Company Inc. increased its position in Aetna Inc. (NYSE:AET) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 11,480 shares of the company’s stock after buying an additional 295 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Aetna were worth $1,402,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its position in 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. Bridger Management LLC bought a new position in Aetna during the first quarter worth $62,926,000. UBS Asset Management Americas Inc. boosted its position 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 worth $281,491,000 after buying an additional 368,876 shares during the last quarter. Bank of Montreal Can bought a new position in Aetna during the second quarter worth $39,500,000. Finally, Credit Agricole S A boosted its position in 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. 91.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Aetna Inc. (NYSE:AET) traded up 2.71% during midday trading on Tuesday, reaching $111.43. 3,601,754 shares of the company traded hands. Aetna Inc. has a 12 month low of $92.42 and a 12 month high of $123.57. The firm has a market capitalization of $39.09 billion, a P/E ratio of 16.33 and a beta of 0.54. The company has a 50 day moving average of $114.71 and a 200 day moving average of $115.74.
Aetna (NYSE:AET) last released its 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. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The firm earned $15.95 billion during the quarter, compared to the consensus estimate of $15.69 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. Aetna’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. Aetna’s payout ratio is 14.73%.
A number of equities analysts recently weighed in on AET shares. Credit Suisse Group AG reaffirmed a “hold” rating and set a $120.00 price objective on shares of Aetna in a research report on Tuesday, September 13th. Evercore ISI began coverage on shares of Aetna in a report on Thursday, September 22nd. They set a “buy” rating and a $128.00 target price on the stock. Zacks Investment Research upgraded shares of Aetna from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Tuesday, October 4th. Leerink Swann reiterated an “outperform” rating on shares of Aetna in a report on Wednesday, August 24th. Finally, Wolfe Research began coverage on shares of Aetna in a report on Tuesday, June 28th. They set an “outperform” rating and a $154.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently 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 business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 44,883 shares in the company, valued at $5,395,385.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey E. Garten sold 7,100 shares of the business’s stock in a transaction that occurred on 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 corporate 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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