Chemical Bank Acquires 1,315 Shares of Aetna Inc. (AET)
Chemical Bank raised its holdings in Aetna Inc. (NYSE:AET) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,565 shares of the company’s stock after purchasing an additional 1,315 shares during the period. Aetna accounts for approximately 0.8% of Chemical Bank’s portfolio, making the stock its 27th largest holding. Chemical Bank’s holdings in Aetna were worth $7,374,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. FTB Advisors Inc. lifted its stake in shares of Aetna by 11.0% during the first quarter. FTB Advisors Inc. now owns 977 shares of the company’s stock valued at $125,000 after buying an additional 97 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in shares of Aetna during the first quarter valued at approximately $133,000. Liberty Capital Management Inc. lifted its stake in shares of Aetna by 206.9% during the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after buying an additional 629 shares during the period. Guardian Life Insurance Co. of America lifted its stake in shares of Aetna by 0.7% during the first 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 period. Finally, Deschutes Portfolio Strategy LLC purchased a new position in shares of Aetna during the second quarter valued at approximately $200,000. 89.58% of the stock is currently owned by institutional investors.
Aetna Inc. (NYSE:AET) traded down 0.16% during midday trading on Wednesday, hitting $162.57. 410,895 shares of the stock traded hands. The company has a 50-day moving average price of $156.47 and a 200-day moving average price of $144.33. Aetna Inc. has a 1-year low of $104.59 and a 1-year high of $164.30. The firm has a market cap of $53.99 billion, a P/E ratio of 36.09 and a beta of 0.53.
Aetna (NYSE:AET) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $2.34 by $1.08. The firm had revenue of $15.52 billion for the quarter, compared to analyst estimates of $15.34 billion. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. Analysts predict that Aetna Inc. will post $9.55 EPS for the current year.
Several brokerages recently issued reports on AET. Argus reissued a “buy” rating and set a $185.00 price objective (up previously from $165.00) on shares of Aetna in a research note on Tuesday. Royal Bank Of Canada upped their price objective on shares of Aetna from $162.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Jefferies Group LLC reissued a “hold” rating and set a $163.00 price objective (up previously from $157.00) on shares of Aetna in a research note on Friday, August 4th. Deutsche Bank AG upped their price objective on shares of Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective (up previously from $150.00) on shares of Aetna in a research note on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $159.04.
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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