First Citizens Bank & Trust Co. Cuts Position in Aetna Inc. (AET)
First Citizens Bank & Trust Co. cut its position in shares of Aetna Inc. (NYSE:AET) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,974 shares of the company’s stock after selling 25,010 shares during the period. Aetna accounts for approximately 0.9% of First Citizens Bank & Trust Co.’s portfolio, making the stock its 27th largest position. First Citizens Bank & Trust Co.’s holdings in Aetna were worth $10,256,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Teachers Advisors Inc. increased its position in shares of Aetna by 3.5% in the first quarter. Teachers Advisors Inc. now owns 396,540 shares of the company’s stock worth $44,551,000 after buying an additional 13,543 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Aetna by 21.9% in the first quarter. Franklin Resources Inc. now owns 950,209 shares of the company’s stock worth $106,756,000 after buying an additional 170,457 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of Aetna during the first quarter worth approximately $17,071,000. Bessemer Group Inc. increased its position in shares of Aetna by 1.1% in the first quarter. Bessemer Group Inc. now owns 937,441 shares of the company’s stock worth $105,321,000 after buying an additional 9,898 shares in the last quarter. Finally, Advisor Partners LLC increased its position in shares of Aetna by 22.2% in the first quarter. Advisor Partners LLC now owns 6,897 shares of the company’s stock worth $775,000 after buying an additional 1,251 shares in the last quarter. 91.95% of the stock is currently owned by institutional investors and hedge funds.
Aetna Inc. (NYSE:AET) traded down 0.09% during mid-day trading on Friday, hitting $113.89. 839,563 shares of the company’s stock were exchanged. Aetna Inc. has a 52 week low of $92.42 and a 52 week high of $123.57. The firm has a 50 day moving average of $116.30 and a 200 day moving average of $115.78. The stock has a market capitalization of $39.95 billion, a P/E ratio of 16.69 and a beta of 0.54.
Aetna (NYSE:AET) last announced its earnings results on Tuesday, August 2nd. The company reported $2.21 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.69 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Aetna’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Aetna Inc. will post $8.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Thursday, October 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Tuesday, October 11th. Aetna’s dividend payout ratio (DPR) is currently 14.73%.
AET has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed a “buy” rating on shares of Aetna in a report on Tuesday, June 14th. Sanford C. Bernstein initiated coverage on shares of Aetna in a report on Thursday, June 16th. They set an “outperform” rating and a $142.00 price target for the company. Leerink Swann reaffirmed an “outperform” rating on shares of Aetna in a report on Tuesday, June 21st. Wolfe Research initiated coverage on shares of Aetna in a report on Tuesday, June 28th. They set an “outperform” rating and a $154.00 price target for the company. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $120.00 price target on shares of Aetna in a report on Wednesday, June 29th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $132.43.
In related news, Director Jeffrey E. Garten sold 7,100 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total transaction of $827,221.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shawn M. Guertin sold 45,328 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $120.21, for a total transaction of $5,448,878.88. Following the transaction, the insider now directly owns 44,883 shares in the company, valued at approximately $5,395,385.43. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
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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