Credit Suisse Group Reaffirms “Neutral” Rating for Aetna (AET)
Credit Suisse Group reissued their neutral rating on shares of Aetna (NYSE:AET) in a research report report published on Wednesday. They currently have a $195.00 price target on the stock, up from their prior price target of $174.00.
Several other equities analysts also recently weighed in on the company. BMO Capital Markets lifted their target price on Aetna from $175.00 to $200.00 and gave the company a market perform rating in a research report on Friday, October 27th. Argus reaffirmed a buy rating and issued a $185.00 target price (up from $165.00) on shares of Aetna in a research report on Tuesday, September 12th. Cantor Fitzgerald downgraded Aetna from an overweight rating to a neutral rating in a research report on Thursday, October 26th. Zacks Investment Research raised Aetna from a hold rating to a strong-buy rating and set a $184.00 price objective for the company in a research report on Wednesday, October 25th. Finally, Raymond James Financial raised Aetna from a market perform rating to an outperform rating and set a $200.00 price objective for the company in a research report on Friday, November 3rd. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Aetna presently has an average rating of Buy and a consensus price target of $175.19.
Aetna (NYSE:AET) opened at $182.73 on Wednesday. The firm has a market capitalization of $58,329.39, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.53 and a quick ratio of 0.53. Aetna has a 52-week low of $116.04 and a 52-week high of $192.37.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Thursday, January 11th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, January 10th. Aetna’s payout ratio is 37.04%.
In related news, EVP Margaret M. Mccarthy sold 10,288 shares of the business’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 completion of the sale, the executive vice president now owns 33,563 shares in the company, valued at $5,465,734.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Karen S. Lynch sold 15,271 shares of the business’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 of the company’s stock, valued at approximately $10,404,498.51. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in Aetna by 4.2% in the third quarter. Wells Fargo & Company MN now owns 1,365,596 shares of the company’s stock valued at $217,144,000 after buying an additional 54,928 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in Aetna by 26.3% in the second quarter. State of Tennessee Treasury Department now owns 557,814 shares of the company’s stock valued at $84,692,000 after buying an additional 116,280 shares during the last quarter. Fayez Sarofim & Co. lifted its stake in Aetna by 82.8% in the third quarter. Fayez Sarofim & Co. now owns 7,427 shares of the company’s stock valued at $1,181,000 after buying an additional 3,365 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in Aetna in the second quarter valued at approximately $10,567,000. Finally, Pictet & Cie Europe SA purchased a new stake in Aetna in the second quarter valued at approximately $2,269,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.
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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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