Private Advisor Group LLC Increases Stake in Aetna Inc. (AET)
Private Advisor Group LLC grew its position in shares of Aetna Inc. (NYSE:AET) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,663 shares of the company’s stock after buying an additional 685 shares during the quarter. Private Advisor Group LLC’s holdings in Aetna were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Guardian Life Insurance Co. of America lifted its holdings in shares of Aetna by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after buying an additional 9 shares during the last quarter. Concert Wealth Management Inc. lifted its holdings in shares of Aetna by 0.4% during the 1st quarter. Concert Wealth Management Inc. now owns 3,262 shares of the company’s stock valued at $405,000 after buying an additional 14 shares during the last quarter. Geneva Advisors LLC lifted its holdings in shares of Aetna by 1.0% during the 1st quarter. Geneva Advisors LLC now owns 2,588 shares of the company’s stock valued at $330,000 after buying an additional 25 shares during the last quarter. JNBA Financial Advisors lifted its holdings in shares of Aetna by 0.7% during the 1st quarter. JNBA Financial Advisors now owns 3,726 shares of the company’s stock valued at $475,000 after buying an additional 27 shares during the last quarter. Finally, Financial Architects Inc lifted its holdings in shares of Aetna by 1.8% during the 2nd quarter. Financial Architects Inc now owns 1,746 shares of the company’s stock valued at $265,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.
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AET has been the subject of several research reports. Bank of America Corporation reiterated a “buy” rating and set a $168.00 price target (up from $160.00) on shares of Aetna in a report on Wednesday, May 17th. Jefferies Group LLC restated a “hold” rating and issued a $163.00 target price (up from $157.00) on shares of Aetna in a report on Friday, August 4th. Morgan Stanley started coverage on Aetna in a report on Tuesday, June 6th. They issued an “overweight” rating and a $162.00 target price for the company. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, July 4th. Finally, Deutsche Bank AG boosted their target price on Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, August 7th. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $157.99.
Shares of Aetna Inc. (AET) opened at 162.83 on Friday. The stock’s 50 day moving average price is $156.27 and its 200-day moving average price is $143.85. The company has a market capitalization of $54.08 billion, a PE ratio of 36.14 and a beta of 0.53. Aetna Inc. has a 52-week low of $104.59 and a 52-week high of $163.16.
Aetna (NYSE:AET) last released its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.34 by $1.08. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The company had revenue of $15.52 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same period last year, the firm posted $2.21 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. On average, analysts expect that Aetna Inc. will post $9.54 earnings per share for the current year.
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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