Summit X LLC bought a new stake in Aetna Inc (NYSE:AET) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,229 shares of the company’s stock, valued at approximately $249,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wolverine Asset Management LLC grew its holdings in Aetna by 31.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 47,351 shares of the company’s stock valued at $8,688,000 after buying an additional 11,408 shares during the last quarter. Havens Advisors LLC grew its holdings in shares of Aetna by 32.1% during the 3rd quarter. Havens Advisors LLC now owns 50,200 shares of the company’s stock worth $10,183,000 after purchasing an additional 12,200 shares in the last quarter. Mainstay Capital Management LLC ADV grew its holdings in shares of Aetna by 1,696.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 11,209 shares of the company’s stock worth $162,000 after purchasing an additional 10,585 shares in the last quarter. Abrams Capital Management L.P. grew its holdings in shares of Aetna by 14.1% during the 2nd quarter. Abrams Capital Management L.P. now owns 1,575,000 shares of the company’s stock worth $289,013,000 after purchasing an additional 195,000 shares in the last quarter. Finally, Glen Harbor Capital Management LLC grew its holdings in shares of Aetna by 140.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock worth $973,000 after purchasing an additional 3,094 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AET stock opened at $198.21 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $64.89 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.68 and a beta of 0.71. Aetna Inc has a one year low of $166.88 and a one year high of $206.66.
Aetna (NYSE:AET) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $2.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.13. The business had revenue of $15.48 billion for the quarter, compared to analyst estimates of $15.40 billion. Aetna had a return on equity of 20.78% and a net margin of 5.99%. Aetna’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.45 EPS. Research analysts expect that Aetna Inc will post 11.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were given a $0.50 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 1.01%. Aetna’s payout ratio is 20.28%.
AET has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $202.00 price target on shares of Aetna in a research note on Thursday, August 2nd. Zacks Investment Research raised Aetna from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a research note on Thursday, October 4th. Credit Suisse Group decreased their price target on Aetna from $207.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st. Citigroup boosted their price target on Aetna from $202.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, October 31st. Finally, Piper Jaffray Companies lowered Aetna from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $212.00 to $206.00 in a research note on Tuesday, October 30th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Aetna currently has an average rating of “Hold” and a consensus price target of $204.55.
Aetna Inc operates as a health care benefits company in the United States. It operates through three segments: Health Care, Group Insurance, and Large Case Pensions. The Health Care segment offers medical, pharmacy benefit management service, dental, behavioral health, and vision plans on an insured and employer-funded basis.
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