Aetna Inc. (AET) Lifted to “Outperform” at Credit Suisse Group AG
Credit Suisse Group AG upgraded shares of Aetna Inc. (NYSE:AET) from a neutral rating to an outperform rating in a research report released on Friday. They currently have $125.00 target price on the stock, up from their prior target price of $120.00.
A number of other analysts have also issued reports on the company. Evercore ISI initiated coverage on Aetna in a research note on Thursday, September 22nd. They issued a buy rating and a $128.00 price target on the stock. Zacks Investment Research raised Aetna from a hold rating to a buy rating and set a $128.00 price objective on the stock in a research note on Tuesday, October 4th. Leerink Swann reaffirmed an outperform rating on shares of Aetna in a research note on Wednesday, August 24th. FBR & Co reaffirmed a hold rating on shares of Aetna in a research note on Wednesday, August 17th. Finally, Jefferies Group reaffirmed a hold rating on shares of Aetna in a research note on Tuesday, August 23rd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $132.14.
Shares of Aetna (NYSE:AET) opened at 123.58 on Friday. The stock has a market capitalization of $43.36 billion, a price-to-earnings ratio of 17.82 and a beta of 0.54. The company has a 50-day moving average of $112.16 and a 200 day moving average of $115.60. Aetna has a one year low of $92.42 and a one year high of $124.23.
Aetna (NYSE:AET) last issued its quarterly earnings results on Thursday, October 27th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. Aetna had a return on equity of 16.25% and a net margin of 3.91%. The firm had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.71 billion. During the same period last year, the company earned $1.90 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Aetna will post $8.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Thursday, October 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.81%. Aetna’s dividend payout ratio is currently 14.49%.
In related news, Director Jeffrey E. Garten sold 7,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $116.51, for a total transaction of $827,221.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn M. Guertin sold 45,328 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 44,883 shares of the company’s stock, 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.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. raised its position in 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 in the last quarter. Parkside Financial Bank & Trust raised its position in Aetna by 9.7% in the second quarter. Parkside Financial Bank & Trust now owns 829 shares of the company’s stock worth $101,000 after buying an additional 73 shares in the last quarter. Ledyard National Bank raised its position in Aetna by 14.4% in the third quarter. Ledyard National Bank now owns 876 shares of the company’s stock worth $101,000 after buying an additional 110 shares in the last quarter. FTB Advisors Inc. raised its position in Aetna by 0.7% in the third quarter. FTB Advisors Inc. now owns 880 shares of the company’s stock worth $101,000 after buying an additional 6 shares in the last quarter. Finally, New York Life Trust Co. bought a new position in Aetna during the third quarter worth about $132,000. Institutional investors and hedge funds own 90.90% of the company’s stock.
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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