BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Aetna Inc. (NYSE:AET) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,444 shares of the company’s stock after selling 11,888 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of Aetna worth $29,169,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. State of Tennessee Treasury Department lifted its stake in Aetna by 26.3% in the 2nd 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 in the last quarter. Fayez Sarofim & Co. lifted its stake in Aetna by 82.8% in the 3rd quarter. Fayez Sarofim & Co. now owns 7,427 shares of the company’s stock worth $1,181,000 after acquiring an additional 3,365 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Aetna by 4.2% in the 3rd quarter. Wells Fargo & Company MN now owns 1,365,596 shares of the company’s stock worth $217,144,000 after acquiring an additional 54,928 shares in the last quarter. Banque Pictet & Cie SA purchased a new stake in Aetna in the 2nd quarter worth about $10,567,000. Finally, Pictet & Cie Europe SA purchased a new stake in Aetna in the 2nd quarter worth about $2,269,000. 88.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Aetna Inc. (NYSE AET) opened at $178.69 on Wednesday. Aetna Inc. has a fifty-two week low of $116.04 and a fifty-two week high of $192.37. The stock has a market capitalization of $58,274.07, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.63 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 data 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 company had revenue of $14.99 billion for the quarter, compared to analyst estimates of $15.12 billion. During the same quarter last year, the firm earned $2.07 EPS. Aetna’s revenue for the quarter was down 5.0% compared to the same quarter last year. equities research analysts forecast that Aetna Inc. will post 9.78 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Thursday, January 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, January 10th. Aetna’s payout ratio is presently 37.04%.
A number of research firms have recently weighed in on AET. Wells Fargo & Company reaffirmed an “outperform” rating and set a $208.00 price target (up from $200.00) on shares of Aetna in a research note on Monday. BMO Capital Markets raised their price target on Aetna from $175.00 to $200.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Cantor Fitzgerald downgraded Aetna from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Raymond James Financial raised Aetna from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Friday, November 3rd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $187.00 price target on shares of Aetna in a research note on Friday, November 3rd. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $174.14.
In related news, President Karen S. Lynch sold 15,271 shares of the firm’s stock in a transaction that occurred on 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 owns 64,261 shares in the company, valued at approximately $10,404,498.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $162.85, for a total value of $1,675,400.80. Following the transaction, the executive vice president now owns 33,563 shares of the company’s stock, valued at approximately $5,465,734.55. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.
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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