Credit Suisse Group reissued their outperform rating on shares of Aetna Inc. (NYSE:AET) in a research note published on Thursday morning. They currently have a $165.00 price objective on the stock, up from their previous price objective of $160.00.
AET has been the subject of several other reports. CIBC restated an outperform rating on shares of Aetna in a report on Monday, April 3rd. Royal Bank Of Canada restated a buy rating and set a $145.00 price target on shares of Aetna in a report on Monday, April 24th. Bank of America Corporation reaffirmed a buy rating and set a $168.00 price objective (up previously from $160.00) on shares of Aetna in a research report on Wednesday, May 17th. Oppenheimer Holdings, Inc. reaffirmed an outperform rating on shares of Aetna in a research report on Friday, March 31st. Finally, Morgan Stanley initiated coverage on shares of Aetna in a research report on Tuesday, June 6th. They set an overweight rating and a $162.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $152.84.
Aetna (NYSE:AET) opened at 155.00 on Thursday. The firm has a market cap of $51.41 billion, a price-to-earnings ratio of 47.27 and a beta of 0.54. Aetna has a 52-week low of $104.59 and a 52-week high of $155.93. The stock has a 50 day moving average of $147.24 and a 200-day moving average of $132.57.
Aetna (NYSE:AET) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.36 by $0.35. The business had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $15.39 billion. Aetna had a net margin of 1.84% and a return on equity of 17.75%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company posted $2.30 earnings per share. On average, analysts expect that Aetna will post $8.99 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Thursday, July 13th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, July 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. Aetna’s dividend payout ratio is 62.31%.
In other news, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $140.79, for a total value of $14,578,382.13. Following the completion of the sale, the chairman now directly owns 659,888 shares of the company’s stock, valued at approximately $92,905,631.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $149.23, for a total value of $4,033,388.44. Following the completion of the sale, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at $5,008,606.49. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Eqis Capital Management Inc. boosted its stake in shares of Aetna by 12.2% in the second quarter. Eqis Capital Management Inc. now owns 11,609 shares of the company’s stock worth $1,763,000 after buying an additional 1,260 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Aetna by 525.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 58,499 shares of the company’s stock worth $8,882,000 after buying an additional 49,141 shares during the period. Liberty Capital Management Inc. boosted its stake in shares of Aetna by 206.9% in the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock worth $144,000 after buying an additional 629 shares during the period. National Pension Service boosted its stake in shares of Aetna by 10.5% in the second quarter. National Pension Service now owns 290,616 shares of the company’s stock worth $44,110,000 after buying an additional 27,498 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Aetna by 35.5% in the second quarter. State of Alaska Department of Revenue now owns 11,264 shares of the company’s stock worth $1,709,000 after buying an additional 2,950 shares during the period. 91.79% of the stock is owned by institutional investors.
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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