Barclays PLC Reaffirms Buy Rating for Aetna Inc. (AET)
Several other brokerages also recently issued reports on AET. FBR & Co restated a hold rating on shares of Aetna in a research report on Wednesday, August 17th. Credit Suisse Group AG reaffirmed a hold rating and set a $120.00 target price on shares of Aetna in a report on Wednesday, August 17th. Jefferies Group reaffirmed a hold rating on shares of Aetna in a report on Tuesday, August 23rd. Zacks Investment Research cut shares of Aetna from a buy rating to a hold rating in a report on Monday, August 8th. Finally, Leerink Swann reaffirmed an outperform rating on shares of Aetna in a report on Tuesday, August 16th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $132.50.
Aetna (NYSE:AET) opened at 118.02 on Monday. The firm’s 50-day moving average price is $112.00 and its 200 day moving average price is $115.53. The firm has a market cap of $41.41 billion, a P/E ratio of 17.02 and a beta of 0.54. Aetna has a 12-month low of $92.42 and a 12-month high of $123.57.
Aetna (NYSE:AET) last issued its quarterly earnings data on Thursday, October 27th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The firm earned $15.78 billion during the quarter, compared to the consensus estimate of $15.71 billion. Aetna had a net margin of 3.91% and a return on equity of 16.25%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.90 earnings per share. Analysts forecast that Aetna will post $8.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Thursday, October 13th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Tuesday, October 11th. Aetna’s payout ratio is 14.49%.
In other Aetna news, Director Jeffrey E. Garten sold 7,100 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $116.51, for a total value of $827,221.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shawn M. Guertin sold 45,328 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $120.21, for a total transaction of $5,448,878.88. Following the completion of the transaction, the insider now owns 44,883 shares in the company, valued at $5,395,385.43. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AET. Renaissance Technologies LLC boosted its position in Aetna by 111.5% in the first quarter. Renaissance Technologies LLC now owns 412,190 shares of the company’s stock worth $46,310,000 after buying an additional 217,300 shares during the last quarter. PGGM Investments boosted its position in Aetna by 54.7% in the second quarter. PGGM Investments now owns 794,893 shares of the company’s stock worth $97,080,000 after buying an additional 280,978 shares during the last quarter. Bridger Management LLC bought a new position in Aetna during the first quarter worth $62,926,000. Panagora Asset Management Inc. boosted its position in Aetna by 10.2% in the first quarter. Panagora Asset Management Inc. now owns 1,212,479 shares of the company’s stock worth $136,222,000 after buying an additional 112,572 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Aetna by 4.1% in the second quarter. Nisa Investment Advisors LLC now owns 145,191 shares of the company’s stock worth $17,732,000 after buying an additional 5,750 shares during the last quarter. Hedge funds and other institutional investors own 91.85% 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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