Pictet Asset Management Ltd. lowered its position in shares of Aetna Inc. (NYSE:AET) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 464,448 shares of the company’s stock after selling 12,829 shares during the period. Pictet Asset Management Ltd.’s holdings in Aetna were worth $67,280,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Creative Planning boosted its stake in Aetna by 13.3% in the first quarter. Creative Planning now owns 16,574 shares of the company’s stock worth $2,114,000 after buying an additional 1,946 shares during the period. Highland Capital Management LLC boosted its stake in Aetna by 5.3% in the first quarter. Highland Capital Management LLC now owns 41,936 shares of the company’s stock worth $5,349,000 after buying an additional 2,106 shares during the period. Adirondack Trust Co. boosted its stake in Aetna by 5.7% in the first quarter. Adirondack Trust Co. now owns 2,398 shares of the company’s stock worth $306,000 after buying an additional 130 shares during the period. TNB Financial acquired a new stake in Aetna during the first quarter worth $584,000. Finally, Horan Capital Management acquired a new stake in Aetna during the first quarter worth $157,000. 91.73% of the stock is currently owned by institutional investors.
Aetna Inc. (AET) opened at 155.58 on Thursday. Aetna Inc. has a 52-week low of $104.59 and a 52-week high of $161.69. The firm’s 50-day moving average is $154.27 and its 200 day moving average is $138.69. The stock has a market capitalization of $51.61 billion, a PE ratio of 47.45 and a beta of 0.54.
Aetna (NYSE:AET) last issued its earnings results on Thursday, August 3rd. The company reported $3.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $1.08. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The firm had revenue of $15.52 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts forecast that Aetna Inc. will post $9.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Thursday, July 13th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.29%. The ex-dividend date was Tuesday, July 11th. Aetna’s payout ratio is presently 43.67%.
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AET has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $133.00 price target on shares of Aetna in a report on Thursday, April 13th. Royal Bank Of Canada reissued a “buy” rating and set a $145.00 target price on shares of Aetna in a report on Monday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price (up previously from $140.00) on shares of Aetna in a report on Wednesday, May 3rd. Stifel Nicolaus reissued a “buy” rating and set a $150.00 target price (up previously from $130.00) on shares of Aetna in a report on Wednesday, May 3rd. Finally, Cleveland Research raised Aetna from a “neutral” rating to a “buy” rating in a report on Thursday, May 11th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $157.09.
In other Aetna news, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $140.79, for a total value of $14,578,382.13. Following the completion of the sale, the chairman now owns 659,888 shares of the company’s stock, valued at $92,905,631.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the completion of the sale, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at approximately $5,008,606.49. 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. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers’ compensation administrative services and health information technology (HIT) products and services.
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