Westpac Banking Corp boosted its stake in shares of Aetna Inc. (NYSE:AET) by 168.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,726 shares of the company’s stock after purchasing an additional 35,573 shares during the period. Westpac Banking Corp’s holdings in Aetna were worth $9,020,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Bruderman Asset Management LLC purchased a new stake in shares of Aetna in the second quarter worth about $106,000. Liberty Capital Management Inc. increased its stake in Aetna by 206.9% during the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock worth $144,000 after acquiring an additional 629 shares during the last quarter. Westside Investment Management Inc. increased its stake in Aetna by 53.5% during the second quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock worth $177,000 after acquiring an additional 400 shares during the last quarter. Phocas Financial Corp. bought a new stake in Aetna during the second quarter worth approximately $182,000. Finally, Highstreet Asset Management Inc. grew its stake in shares of Aetna by 105.5% during the third quarter. Highstreet Asset Management Inc. now owns 1,243 shares of the company’s stock valued at $198,000 after buying an additional 638 shares during the last quarter. Institutional investors and hedge funds own 91.06% of the company’s stock.
In other Aetna news, President Karen S. Lynch sold 15,271 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were 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 can be accessed through this link. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $162.85, for a total transaction 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. Company insiders own 0.90% of the company’s stock.
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Shares of Aetna Inc. (NYSE AET) traded up $2.59 on Friday, reaching $175.12. 2,240,900 shares of the company’s stock traded hands, compared to its average volume of 3,100,742. Aetna Inc. has a one year low of $116.04 and a one year high of $184.98. The firm has a market capitalization of $57,106.63, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.60 and a beta of 0.61. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.52.
Aetna (NYSE:AET) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.39. The company had revenue of $14.99 billion for the quarter, compared to the consensus estimate of $15.12 billion. Aetna had a net margin of 2.93% and a return on equity of 21.84%. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 earnings per share. sell-side analysts predict that Aetna Inc. will post 9.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, October 12th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. Aetna’s payout ratio is currently 37.04%.
A number of research analysts have recently commented on the company. Piper Jaffray Companies reaffirmed a “hold” rating and set a $187.00 target price on shares of Aetna in a research note on Friday, November 3rd. Raymond James Financial, Inc. upgraded Aetna from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Friday, November 3rd. Credit Suisse Group assumed coverage on Aetna in a report on Thursday, November 2nd. They set a “neutral” rating and a $174.00 target price for the company. Zacks Investment Research lowered Aetna from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Citigroup Inc. increased their price objective on Aetna from $183.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Aetna presently has a consensus rating of “Buy” and an average target price of $170.34.
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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