Markston International LLC Reduces Position in Aetna Inc. (AET)
Markston International LLC lowered its position in shares of Aetna Inc. (NYSE:AET) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 305,893 shares of the company’s stock after selling 17,181 shares during the period. Aetna comprises approximately 3.5% of Markston International LLC’s portfolio, making the stock its 2nd largest position. Markston International LLC owned 0.09% of Aetna worth $37,358,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of AET. Hartford Financial Management Inc. increased its position in shares of Aetna by 304.8% in the second quarter. Hartford Financial Management Inc. now owns 850 shares of the company’s stock worth $101,000 after buying an additional 640 shares during the period. FirstMerit Bank N A Trustee purchased a new position in shares of Aetna during the second quarter worth $200,000. Genesee Valley Trust Co. purchased a new position in shares of Aetna during the second quarter worth $203,000. Pennsylvania Trust Co purchased a new position in shares of Aetna during the second quarter worth $221,000. Finally, Atria Investments LLC purchased a new position in shares of Aetna during the second quarter worth $222,000. Institutional investors own 91.95% of the company’s stock.
Aetna Inc. (NYSE:AET) traded up 0.45% during mid-day trading on Wednesday, hitting $116.26. 1,100,437 shares of the stock traded hands. The company has a market cap of $40.78 billion, a price-to-earnings ratio of 17.04 and a beta of 0.62. The firm’s 50-day moving average is $117.19 and its 200-day moving average is $115.70. Aetna Inc. has a 12-month low of $92.42 and a 12-month high of $123.57.
Aetna (NYSE:AET) last released its earnings results on Tuesday, August 2nd. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.09. Aetna had a net margin of 3.89% and a return on equity of 16.44%. The company earned $15.95 billion during the quarter, compared to analysts’ expectations of $15.69 billion. During the same quarter last year, the business earned $2.05 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Aetna Inc. will post $8.05 EPS for the current year.
A number of research analysts have weighed in on AET shares. Zacks Investment Research upgraded shares of Aetna from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research report on Tuesday, July 19th. Morgan Stanley reiterated a “buy” rating on shares of Aetna in a research report on Tuesday, June 14th. Wells Fargo & Co. reiterated a “buy” rating on shares of Aetna in a research report on Thursday, June 2nd. Leerink Swann reiterated a “buy” rating and issued a $135.00 price objective on shares of Aetna in a research report on Thursday, August 4th. Finally, Evercore ISI started coverage on shares of Aetna in a research report on Thursday, September 22nd. They issued a “buy” rating and a $128.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Aetna has a consensus rating of “Buy” and an average price target of $132.79.
In related news, insider Shawn M. Guertin sold 45,328 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $120.21, for a total value of $5,448,878.88. Following the completion of the sale, the insider now owns 44,883 shares in the company, valued at $5,395,385.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey E. Garten sold 7,100 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total transaction of $827,221.00. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate 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. The Health Care segment’s products and services consist of medical, pharmacy benefit management services, dental, behavioral health and vision plans offered on both an insured basis and an employer-funded, or administrative services contact, basis and emerging businesses products and services, such as accountable care solutions (ACS).
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