Logan Capital Management Inc. Sells 1,076 Shares of Aetna Inc. (AET)
Logan Capital Management Inc. reduced its stake in Aetna Inc. (NYSE:AET) by 38.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,700 shares of the company’s stock after selling 1,076 shares during the period. Logan Capital Management Inc.’s holdings in Aetna were worth $258,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. State of Tennessee Treasury Department boosted its position in shares of Aetna by 26.3% in the 2nd quarter. State of Tennessee Treasury Department now owns 557,814 shares of the company’s stock worth $84,692,000 after purchasing an additional 116,280 shares during the last quarter. Pictet & Cie Europe SA acquired a new stake in Aetna during the 2nd quarter worth $2,269,000. Banque Pictet & Cie SA acquired a new stake in Aetna during the 2nd quarter worth $10,567,000. NBT Bank N A NY acquired a new stake in Aetna during the 2nd quarter worth $215,000. Finally, Swiss National Bank raised its stake in Aetna by 0.8% during the 2nd quarter. Swiss National Bank now owns 1,483,438 shares of the company’s stock worth $225,230,000 after buying an additional 11,100 shares during the period. Institutional investors and hedge funds own 89.52% of the company’s stock.
In related news, President Karen S. Lynch sold 15,271 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $161.91, for a total value of $2,472,527.61. Following the sale, the president now owns 64,261 shares in the company, valued at approximately $10,404,498.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 33,563 shares in the company, valued at approximately $5,465,734.55. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
Several brokerages recently commented on AET. Zacks Investment Research downgraded Aetna from a “buy” rating to a “hold” rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed 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. Jefferies Group LLC reaffirmed 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 raised their price objective on Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Finally, Royal Bank Of Canada raised their price objective on Aetna from $162.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Aetna presently has a consensus rating of “Buy” and an average price target of $160.77.
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Aetna Inc. (NYSE AET) traded down 0.69% during mid-day trading on Thursday, hitting $162.09. The company had a trading volume of 217,650 shares. The firm has a market capitalization of $53.83 billion, a PE ratio of 35.98 and a beta of 0.53. Aetna Inc. has a 12-month low of $104.59 and a 12-month high of $164.52. The company’s 50 day moving average price is $157.93 and its 200-day moving average price is $147.55.
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, topping the Zacks’ consensus estimate of $2.34 by $1.08. The company had revenue of $15.52 billion for the quarter, compared to analysts’ expectations of $15.34 billion. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. On average, analysts forecast that Aetna Inc. will post $9.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, October 12th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. Aetna’s dividend payout ratio (DPR) is presently 43.67%.
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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