Comerica Bank increased its holdings in Aetna Inc. (NYSE:AET) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 108,354 shares of the company’s stock after buying an additional 479 shares during the quarter. Comerica Bank’s holdings in Aetna were worth $18,553,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lloyds Banking Group plc bought a new stake in Aetna in the 3rd quarter worth about $106,000. Bruderman Asset Management LLC bought a new stake in Aetna in the 2nd quarter worth about $106,000. Moisand Fitzgerald Tamayo LLC bought a new stake in Aetna in the 3rd quarter worth about $116,000. Liberty Capital Management Inc. increased its holdings in Aetna by 206.9% in the 2nd quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock worth $144,000 after buying an additional 629 shares in the last quarter. Finally, Westside Investment Management Inc. increased its holdings in Aetna by 53.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock worth $177,000 after buying an additional 400 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.
Aetna Inc. (AET) traded down $2.10 during midday trading on Tuesday, reaching $173.02. The company had a trading volume of 2,193,300 shares, compared to its average volume of 2,446,281. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52. Aetna Inc. has a one year low of $116.04 and a one year high of $184.98. The stock has a market cap of $57,106.63, a PE ratio of 17.15, a PEG ratio of 1.60 and a beta of 0.61.
Aetna (NYSE:AET) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.39. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The company had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $15.12 billion. During the same period in the previous year, the firm earned $2.07 EPS. The firm’s revenue was down 5.0% compared to the same quarter last year. sell-side analysts predict that Aetna Inc. will post 9.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, October 12th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 11th. This represents a $2.00 dividend on an annualized basis and a yield of 1.16%. Aetna’s dividend payout ratio is presently 37.04%.
In related 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 value of $2,472,527.61. Following the transaction, the president now directly owns 64,261 shares of the company’s stock, valued at approximately $10,404,498.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value 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. 1.14% of the stock is currently owned by insiders.
AET has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Aetna from $175.00 to $200.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Argus reiterated a “buy” rating and issued a $185.00 price objective (up from $165.00) on shares of Aetna in a report on Tuesday, September 12th. Zacks Investment Research upgraded Aetna from a “hold” rating to a “strong-buy” rating and set a $184.00 price objective for the company in a report on Wednesday, October 25th. Cantor Fitzgerald downgraded Aetna from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Finally, BidaskClub downgraded Aetna from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $170.34.
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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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