Korea Investment CORP Decreases Stake in Aetna Inc. (NYSE:AET)
Korea Investment CORP cut its position in Aetna Inc. (NYSE:AET) by 20.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 136,657 shares of the company’s stock after selling 35,689 shares during the period. Korea Investment CORP’s holdings in Aetna were worth $20,749,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. raised its stake in Aetna by 8.4% in the first quarter. Raymond James Trust N.A. now owns 6,641 shares of the company’s stock valued at $847,000 after buying an additional 514 shares during the period. Creative Planning raised its stake in Aetna by 13.3% in the first quarter. Creative Planning now owns 16,574 shares of the company’s stock valued at $2,114,000 after buying an additional 1,946 shares during the period. Gulf International Bank UK Ltd raised its stake in Aetna by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 109,635 shares of the company’s stock valued at $13,983,000 after buying an additional 1,450 shares during the period. National Pension Service raised its stake in Aetna by 2.2% in the first quarter. National Pension Service now owns 263,118 shares of the company’s stock valued at $33,392,000 after buying an additional 5,705 shares during the period. Finally, Highland Capital Management LLC raised its stake in Aetna by 5.3% in the first quarter. Highland Capital Management LLC now owns 41,936 shares of the company’s stock valued at $5,349,000 after buying an additional 2,106 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.
Aetna Inc. (NYSE:AET) traded down 0.87% during midday trading on Friday, hitting $154.45. 1,781,161 shares of the stock were exchanged. Aetna Inc. has a one year low of $104.59 and a one year high of $161.69. The stock has a market cap of $51.29 billion, a P/E ratio of 34.28 and a beta of 0.54. The firm has a 50-day moving average price of $154.81 and a 200-day moving average price of $140.38.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $1.08. The business had revenue of $15.52 billion during the quarter, compared to the consensus estimate of $15.34 billion. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 EPS. On average, equities research analysts anticipate that Aetna Inc. will post $9.55 EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on the stock. UBS AG reiterated a “buy” rating and set a $160.00 price objective (up previously from $147.00) on shares of Aetna in a report on Wednesday, May 17th. Argus reiterated a “buy” rating and set a $165.00 price objective (up previously from $145.00) on shares of Aetna in a report on Tuesday, May 30th. Morgan Stanley raised their target price on shares of Aetna from $172.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday. Credit Suisse Group reissued a “buy” rating and set a $155.00 target price on shares of Aetna in a research report on Wednesday, May 17th. Finally, Cleveland Research raised shares of Aetna from a “neutral” rating to a “buy” rating in a research report on Thursday, May 11th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Aetna has an average rating of “Buy” and an average price target of $157.99.
In other news, EVP Margaret M. Mccarthy sold 27,028 shares of Aetna stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the completion of the transaction, the executive vice president now owns 33,563 shares of the company’s stock, valued at approximately $5,008,606.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% 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. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers’ compensation administrative services and health information technology (HIT) products and services.
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