Aetna Inc (AET) Shares Sold by Schafer Cullen Capital Management Inc.
Schafer Cullen Capital Management Inc. decreased its stake in Aetna Inc (NYSE:AET) by 19.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,468 shares of the company’s stock after selling 14,768 shares during the quarter. Schafer Cullen Capital Management Inc.’s holdings in Aetna were worth $9,181,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bruderman Asset Management LLC acquired a new stake in shares of Aetna in the second quarter valued at about $106,000. Liberty Capital Management Inc. grew its position in shares of Aetna by 206.9% in the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after purchasing an additional 629 shares during the period. Westside Investment Management Inc. grew its position in shares of Aetna by 53.5% in the second quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock valued at $177,000 after purchasing an additional 400 shares during the period. Deschutes Portfolio Strategy LLC acquired a new stake in shares of Aetna in the second quarter valued at about $200,000. Finally, Institute for Wealth Management LLC. acquired a new stake in shares of Aetna in the second quarter valued at about $201,000. Institutional investors and hedge funds own 89.52% of the company’s stock.
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 consensus estimate of $2.34 by $1.08. Aetna had a return on equity of 32.53% and a net margin of 7.62%. The firm had revenue of $15.52 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year.
The business 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $2.00 annualized dividend and a yield of 1.29%. Aetna’s dividend payout ratio is currently 43.67%.
In other news, EVP Margaret M. Mccarthy sold 10,288 shares of the stock in a transaction 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 sale, the executive vice president now owns 33,563 shares in the company, valued at $5,465,734.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Karen S. Lynch sold 15,271 shares of the stock in a transaction 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 approximately $10,404,498.51. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
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Several brokerages have recently issued reports on AET. Zacks Investment Research lowered shares of Aetna from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price (up previously from $150.00) on shares of Aetna in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 target price (up previously from $157.00) on shares of Aetna in a research report on Friday, August 4th. Deutsche Bank AG boosted their price target on shares of Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Aetna from $162.00 to $171.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $160.99.
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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