Quantitative Investment Management LLC Takes $17.04 Million Position in Aetna Inc. (AET)
Quantitative Investment Management LLC purchased a new stake in Aetna Inc. (NYSE:AET) during the second quarter, according to its most recent filing with the SEC. The firm purchased 112,200 shares of the company’s stock, valued at approximately $17,035,000.
Other large investors have also recently made changes to their positions in the company. Bruderman Asset Management LLC acquired a new stake in shares of Aetna in the 2nd quarter valued at approximately $106,000. Liberty Capital Management Inc. raised its position in shares of Aetna by 206.9% in the 2nd quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after acquiring an additional 629 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Aetna by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after acquiring an additional 9 shares during the period. Deschutes Portfolio Strategy LLC acquired a new stake in shares of Aetna in the 2nd quarter valued at approximately $200,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Aetna in the 1st quarter valued at approximately $202,000. Institutional investors and hedge funds own 89.52% of the company’s stock.
In other news, EVP Margaret M. Mccarthy sold 10,288 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $162.85, for a total transaction of $1,675,400.80. Following the transaction, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at $5,465,734.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.14% of the stock is owned by corporate insiders.
A number of analysts recently weighed in on AET shares. Zacks Investment Research upgraded shares of Aetna from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, July 4th. Citigroup Inc. started coverage on shares of Aetna in a research report on Wednesday, June 28th. They issued a “buy” rating and a $180.00 price target on the stock. ValuEngine upgraded shares of Aetna from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Argus reiterated a “buy” rating and issued a $165.00 price target (up from $145.00) on shares of Aetna in a research report on Tuesday, May 30th. Finally, Cowen and Company set a $170.00 price target on shares of Aetna and gave the company a “buy” rating in a research report on Saturday, May 27th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $159.04.
Shares of Aetna Inc. (AET) traded down 0.66% during trading on Wednesday, hitting $155.01. 273,995 shares of the stock traded hands. The firm has a market cap of $51.48 billion, a P/E ratio of 34.41 and a beta of 0.53. Aetna Inc. has a 52 week low of $104.59 and a 52 week high of $164.52. The company has a 50-day moving average of $157.50 and a 200-day moving average of $145.70.
Aetna (NYSE:AET) last issued its earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.34 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. Aetna’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts forecast that Aetna Inc. will post $9.55 EPS for the current fiscal year.
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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