Aetna Inc. (NYSE:AET) was downgraded by equities researchers at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, October 26th, Marketbeat reports.
A number of other analysts have also recently commented on AET. Citigroup Inc. initiated coverage on Aetna in a research report on Wednesday, June 28th. They set a “buy” rating and a $180.00 price objective for the company. Zacks Investment Research raised Aetna from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, July 4th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $165.00 price objective (up previously from $160.00) on shares of Aetna in a research note on Thursday, July 13th. Deutsche Bank AG upped their price objective on Aetna from $144.00 to $157.00 and gave the stock a “hold” rating in a research note on Thursday, July 13th. Finally, BidaskClub lowered Aetna from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $170.34.
Shares of Aetna (AET) opened at $175.12 on Thursday. The firm has a market capitalization of $57,106.63, a P/E ratio of 17.15, a PEG ratio of 1.60 and a beta of 0.61. Aetna has a 1 year low of $116.04 and a 1 year high of $184.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.53 and a quick ratio of 0.53.
Aetna (NYSE:AET) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.39. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The firm had revenue of $14.99 billion during the quarter, compared to analysts’ expectations of $15.12 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. The company’s revenue was down 5.0% on a year-over-year basis. equities research analysts anticipate that Aetna will post 9.78 earnings per share for the current year.
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In other news, President Karen S. Lynch sold 15,271 shares of the firm’s 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 sale, the president now directly owns 64,261 shares in the company, valued at approximately $10,404,498.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the firm’s 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 sale, the executive vice president now owns 33,563 shares in the company, valued at $5,465,734.55. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. State of Tennessee Treasury Department raised its position in shares of Aetna by 26.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 557,814 shares of the company’s stock valued at $84,692,000 after buying an additional 116,280 shares during the period. Banque Pictet & Cie SA purchased a new stake in shares of Aetna during the 2nd quarter valued at approximately $10,567,000. Pictet & Cie Europe SA purchased a new stake in shares of Aetna during the 2nd quarter valued at approximately $2,269,000. NBT Bank N A NY purchased a new stake in shares of Aetna during the 2nd quarter valued at approximately $215,000. Finally, Eaton Vance Management raised its position in shares of Aetna by 18.3% during the 2nd quarter. Eaton Vance Management now owns 1,050,685 shares of the company’s stock valued at $159,526,000 after buying an additional 162,502 shares during the period. Institutional investors and hedge funds own 91.06% of the company’s stock.
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. 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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