State Street Corp Sells 1,016,232 Shares of Aetna Inc. (AET)
State Street Corp cut its position in shares of Aetna Inc. (NYSE:AET) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,654,790 shares of the company’s stock after selling 1,016,232 shares during the period. State Street Corp owned 6.22% of Aetna worth $3,136,015,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of AET. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Aetna by 76.4% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 71,094 shares of the company’s stock worth $9,068,000 after purchasing an additional 30,801 shares in the last quarter. Marietta Wealth Management LLC raised its stake in shares of Aetna by 26.7% during the 1st quarter. Marietta Wealth Management LLC now owns 16,973 shares of the company’s stock worth $2,165,000 after purchasing an additional 3,579 shares in the last quarter. Tiedemann Wealth Management LLC purchased a new stake in shares of Aetna during the 1st quarter worth about $433,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Aetna by 4.2% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,166 shares of the company’s stock worth $276,000 after purchasing an additional 88 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of Aetna by 9.9% during the 1st quarter. Independent Advisor Alliance now owns 3,726 shares of the company’s stock worth $474,000 after purchasing an additional 336 shares in the last quarter. 89.52% of the stock is owned by institutional investors.
In other Aetna news, President Karen S. Lynch sold 15,271 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was 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 $10,404,498.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $162.85, for a total value 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.
Aetna Inc. (AET) traded up 0.40% during mid-day trading on Friday, reaching $161.94. The company’s stock had a trading volume of 191,843 shares. The stock has a market cap of $53.78 billion, a PE ratio of 35.95 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 $158.09 and a 200-day moving average of $147.65.
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 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 return on equity of 20.52% and a net margin of 2.52%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 earnings per share. Equities analysts forecast that Aetna Inc. will post $9.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, October 12th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $2.00 annualized dividend and a yield of 1.24%. Aetna’s dividend payout ratio is 43.67%.
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A number of research analysts recently weighed in on the company. Argus reissued a “buy” rating and issued a $185.00 price objective (up from $165.00) on shares of Aetna in a research note on Tuesday, September 12th. Citigroup Inc. assumed coverage on Aetna in a research note on Wednesday, June 28th. They issued a “buy” rating and a $180.00 price objective on the stock. BidaskClub downgraded Aetna from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada raised their price objective on Aetna from $147.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, June 9th. Finally, Morgan Stanley raised their price objective on Aetna from $172.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $160.77.
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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