Scotia Capital Inc. Has $1.36 Million Holdings in Aetna Inc (AET)
Scotia Capital Inc. lessened its holdings in shares of Aetna Inc (NYSE:AET) by 50.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,927 shares of the company’s stock after selling 9,177 shares during the period. Scotia Capital Inc.’s holdings in Aetna were worth $1,355,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of Aetna by 6.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 39,593 shares of the company’s stock worth $6,011,000 after purchasing an additional 2,307 shares in the last quarter. Laurel Wealth Advisors Inc. bought a new position in shares of Aetna during the second quarter worth $202,000. IHT Wealth Management LLC boosted its position in shares of Aetna by 31.1% during the second quarter. IHT Wealth Management LLC now owns 1,749 shares of the company’s stock worth $269,000 after purchasing an additional 415 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Aetna by 53.5% during the second quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock worth $177,000 after purchasing an additional 400 shares in the last quarter. Finally, TT International boosted its position in shares of Aetna by 2.5% during the second quarter. TT International now owns 62,186 shares of the company’s stock worth $9,441,000 after purchasing an additional 1,533 shares in the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on AET. Zacks Investment Research raised shares of Aetna from a “hold” rating to a “buy” rating and set a $174.00 price target on the stock in a research report on Thursday. Argus reissued a “buy” rating and set a $185.00 price target (up from $165.00) on shares of Aetna in a research report on Tuesday, September 12th. BidaskClub cut shares of Aetna from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Deutsche Bank AG lifted their price target on shares of Aetna from $144.00 to $157.00 and gave the stock a “hold” rating in a research report on Thursday, July 13th. Finally, Morgan Stanley lifted their price target on shares of Aetna from $172.00 to $179.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $160.99.
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Aetna (NYSE:AET) last released its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $1.08. Aetna had a net margin of 7.62% and a return on equity of 32.53%. The firm had revenue of $15.52 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same period last year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Wednesday, October 11th. Aetna’s dividend payout ratio (DPR) is 43.67%.
In other Aetna news, President Karen S. Lynch sold 15,271 shares of the firm’s stock in a transaction on 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 transaction, the president now directly owns 64,261 shares of the company’s stock, valued at $10,404,498.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $162.85, for a total transaction of $1,675,400.80. Following the completion of the transaction, the executive vice president now directly owns 33,563 shares in the company, valued at $5,465,734.55. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
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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