Intact Investment Management Inc. purchased a new stake in Aetna Inc. (NYSE:AET) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,400 shares of the company’s stock, valued at approximately $223,000.
Several other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. bought a new stake in shares of Aetna in the 3rd quarter valued at about $6,499,000. Honeywell International Inc. increased its stake in shares of Aetna by 26.3% in the 3rd quarter. Honeywell International Inc. now owns 192,612 shares of the company’s stock valued at $30,627,000 after acquiring an additional 40,100 shares during the last quarter. First Business Financial Services Inc. increased its stake in shares of Aetna by 13.6% in the 3rd quarter. First Business Financial Services Inc. now owns 3,550 shares of the company’s stock valued at $564,000 after acquiring an additional 425 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Aetna by 1.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 472,096 shares of the company’s stock valued at $75,068,000 after acquiring an additional 7,648 shares during the last quarter. Finally, First Quadrant L P CA increased its stake in shares of Aetna by 125.2% in the 3rd quarter. First Quadrant L P CA now owns 107,300 shares of the company’s stock valued at $17,062,000 after acquiring an additional 59,647 shares during the last quarter. 89.45% of the stock is owned by institutional investors.
Aetna (NYSE:AET) last released its quarterly earnings data on Tuesday, October 31st. The company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.39. The firm had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $15.12 billion. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, October 12th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 11th. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. Aetna’s dividend payout ratio is 37.04%.
AET has been the subject of a number of recent analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $165.00 price target (up from $160.00) on shares of Aetna in a research note on Thursday, July 13th. Deutsche Bank AG upped their price target on Aetna from $144.00 to $157.00 and gave the company a “hold” rating in a research note on Thursday, July 13th. BidaskClub cut Aetna from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada increased their target price on Aetna from $162.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $163.00 target price (up from $157.00) on shares of Aetna in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $165.62.
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In other news, 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 transaction of $2,472,527.61. Following the completion of 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 SEC, which is available at this hyperlink. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $162.85, for a total value of $1,675,400.80. Following the sale, the executive vice president now owns 33,563 shares of the company’s stock, valued at approximately $5,465,734.55. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
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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