Profit Investment Management LLC Has $1,596,000 Stake in Aetna Inc. (AET)
Profit Investment Management LLC reduced its position in Aetna Inc. (NYSE:AET) by 31.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 13,828 shares of the company’s stock after selling 6,233 shares during the period. Aetna comprises approximately 1.6% of Profit Investment Management LLC’s portfolio, making the stock its 21st largest position. Profit Investment Management LLC’s holdings in Aetna were worth $1,596,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of AET. Logan Capital Management Inc. boosted its position in Aetna by 2.6% in the first quarter. Logan Capital Management Inc. now owns 5,420 shares of the company’s stock valued at $609,000 after buying an additional 139 shares during the period. First Republic Investment Management Inc. boosted its position in Aetna by 244.5% in the first quarter. First Republic Investment Management Inc. now owns 59,852 shares of the company’s stock valued at $6,724,000 after buying an additional 42,480 shares during the period. BlueMountain Capital Management LLC boosted its position in Aetna by 430.7% in the first quarter. BlueMountain Capital Management LLC now owns 8,756 shares of the company’s stock valued at $984,000 after buying an additional 7,106 shares during the period. Summit Financial Wealth Advisors LLC acquired a new position in Aetna during the second quarter valued at about $246,000. Finally, Fulton Bank N.A. boosted its position in Aetna by 1.7% in the second quarter. Fulton Bank N.A. now owns 38,657 shares of the company’s stock valued at $4,722,000 after buying an additional 634 shares during the period. 88.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aetna Inc. (NYSE:AET) traded down 0.91% during midday trading on Monday, reaching $128.39. The company’s stock had a trading volume of 1,864,651 shares. The stock has a 50-day moving average of $115.34 and a 200 day moving average of $116.60. Aetna Inc. has a 12-month low of $92.42 and a 12-month high of $131.08. The firm has a market capitalization of $45.05 billion, a P/E ratio of 18.52 and a beta of 0.54.
Aetna (NYSE:AET) last posted its quarterly earnings data on Thursday, October 27th. The company reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Aetna had a net margin of 3.91% and a return on equity of 16.25%. The business earned $15.78 billion during the quarter, compared to the consensus estimate of $15.71 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts predict that Aetna Inc. will post $8.02 EPS for the current fiscal year.
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Several research firms recently issued reports on AET. Zacks Investment Research raised Aetna from a “sell” rating to a “hold” rating in a research report on Tuesday, November 22nd. FBR & Co reaffirmed a “hold” rating on shares of Aetna in a research report on Wednesday, August 17th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Aetna in a research report on Wednesday, August 17th. Jefferies Group reissued a “hold” rating on shares of Aetna in a report on Tuesday, August 23rd. Finally, Sanford C. Bernstein cut Aetna from an “outperform” rating to a “market perform” rating and set a $132.00 price target on the stock. in a report on Monday, November 14th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $132.14.
In other news, Director Jeffrey E. Garten sold 7,100 shares of Aetna 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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