Verition Fund Management LLC cut its position in Aetna Inc. (NYSE:AET) by 57.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,216 shares of the company’s stock after selling 4,404 shares during the period. Verition Fund Management LLC’s holdings in Aetna were worth $488,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. State of Tennessee Treasury Department grew its holdings in Aetna by 26.3% during the second quarter. State of Tennessee Treasury Department now owns 557,814 shares of the company’s stock worth $84,692,000 after acquiring an additional 116,280 shares during the period. Banque Pictet & Cie SA acquired a new stake in Aetna during the second quarter worth about $10,567,000. Pictet & Cie Europe SA acquired a new stake in Aetna during the second quarter worth about $2,269,000. NBT Bank N A NY acquired a new stake in Aetna during the second quarter worth about $215,000. Finally, Eaton Vance Management grew its holdings in Aetna by 18.3% during the second quarter. Eaton Vance Management now owns 1,050,685 shares of the company’s stock worth $159,526,000 after acquiring an additional 162,502 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Aetna Inc. (NYSE:AET) traded down 3.07% during mid-day trading on Friday, reaching $173.12. The company’s stock had a trading volume of 12,494,382 shares. The firm has a 50-day moving average of $158.42 and a 200-day moving average of $150.77. The firm has a market capitalization of $57.49 billion, a PE ratio of 38.43 and a beta of 0.53. Aetna Inc. has a 52 week low of $104.59 and a 52 week high of $180.57.
Aetna (NYSE:AET) last released its earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share 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 business had revenue of $15.52 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter last year, the company earned $2.21 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Equities research analysts forecast that Aetna Inc. will post $9.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, October 12th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, October 11th. Aetna’s payout ratio is presently 43.67%.
In related news, EVP Margaret M. Mccarthy sold 10,288 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $162.85, for a total value of $1,675,400.80. Following the completion of the transaction, the executive vice president now owns 33,563 shares of the company’s stock, valued at $5,465,734.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Karen S. Lynch sold 15,271 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $161.91, for a total transaction of $2,472,527.61. Following the completion of the transaction, the president now directly owns 64,261 shares of the company’s stock, valued at approximately $10,404,498.51. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
Several brokerages have commented on AET. Deutsche Bank AG raised their price objective on Aetna from $144.00 to $157.00 and gave the company a “hold” rating in a report on Thursday, July 13th. Credit Suisse Group reissued an “outperform” rating and issued a $165.00 price objective (up from $160.00) on shares of Aetna in a report on Thursday, July 13th. Jefferies Group LLC reissued a “hold” rating and issued a $163.00 price objective (up from $157.00) on shares of Aetna in a report on Friday, August 4th. Zacks Investment Research downgraded Aetna from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price (up previously from $150.00) on shares of Aetna in a research report on Wednesday, August 9th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $163.67.
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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