Municipal Employees Retirement System of Michigan lowered its stake in Aetna Inc. (NYSE:AET) by 20.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,570 shares of the company’s stock after selling 2,260 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Aetna were worth $1,363,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital World Investors increased its position in shares of Aetna by 8.9% in the second quarter. Capital World Investors now owns 20,769,004 shares of the company’s stock worth $3,153,358,000 after purchasing an additional 1,688,767 shares during the period. FMR LLC increased its position in shares of Aetna by 73.8% in the second quarter. FMR LLC now owns 13,736,800 shares of the company’s stock worth $2,085,659,000 after purchasing an additional 5,833,567 shares during the period. Janus Henderson Group PLC increased its position in shares of Aetna by 9,446.2% in the second quarter. Janus Henderson Group PLC now owns 4,328,900 shares of the company’s stock worth $657,255,000 after purchasing an additional 4,283,553 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Aetna by 7.5% in the second quarter. UBS Asset Management Americas Inc. now owns 2,553,496 shares of the company’s stock valued at $387,697,000 after buying an additional 177,364 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Aetna by 8.7% in the second quarter. LSV Asset Management now owns 2,467,782 shares of the company’s stock valued at $374,683,000 after buying an additional 198,214 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.
Several analysts recently weighed in on AET shares. Deutsche Bank raised their price objective on Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price objective (up from $150.00) on shares of Aetna in a research note on Wednesday, August 9th. Morgan Stanley raised their price objective on Aetna from $172.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Argus reaffirmed a “buy” rating and issued a $185.00 price objective (up from $165.00) on shares of Aetna in a research note on Tuesday, September 12th. Finally, Zacks Investment Research lowered Aetna from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $174.14.
Shares of Aetna Inc. (NYSE AET) traded down $2.61 during mid-day trading on Monday, hitting $178.70. The stock had a trading volume of 23,974,756 shares, compared to its average volume of 2,550,375. Aetna Inc. has a 12-month low of $116.04 and a 12-month high of $192.37. The firm has a market capitalization of $59,125.19, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.65 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 issued its quarterly earnings data on Tuesday, October 31st. The company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $15.12 billion. During the same period last year, the company earned $2.07 earnings per share. The firm’s revenue was down 5.0% compared to the same quarter last year. analysts forecast that Aetna Inc. will post 9.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Thursday, January 11th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. Aetna’s dividend payout ratio (DPR) is 37.04%.
In other news, EVP Margaret M. Mccarthy sold 10,288 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 33,563 shares in the company, valued at $5,465,734.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Karen S. Lynch sold 15,271 shares of Aetna stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $161.91, for a total value of $2,472,527.61. Following the completion of the sale, the president now owns 64,261 shares of the company’s stock, valued at $10,404,498.51. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.
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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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