New Century Investment Management Inc. decreased its stake in Aetna Inc (NYSE:AET) by 37.5% during the fourth quarter, Holdings Channel reports. The firm owned 7,308 shares of the company’s stock after selling 4,388 shares during the period. Aetna makes up 1.3% of New Century Investment Management Inc.’s portfolio, making the stock its 25th largest position. New Century Investment Management Inc.’s holdings in Aetna were worth $906,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Aetna by 1.2% in the third quarter. Wells Fargo & Company MN now owns 1,894,948 shares of the company’s stock valued at $218,771,000 after buying an additional 21,988 shares during the period. Arizona State Retirement System increased its stake in Aetna by 0.5% in the third quarter. Arizona State Retirement System now owns 95,234 shares of the company’s stock valued at $10,995,000 after buying an additional 500 shares during the period. APG Asset Management N.V. increased its stake in Aetna by 116.3% in the third quarter. APG Asset Management N.V. now owns 1,387,280 shares of the company’s stock valued at $160,161,000 after buying an additional 745,810 shares during the period. BlackRock Fund Advisors increased its stake in Aetna by 1.7% in the third quarter. BlackRock Fund Advisors now owns 4,954,105 shares of the company’s stock valued at $571,951,000 after buying an additional 80,962 shares during the period. Finally, Nordea Investment Management AB increased its stake in Aetna by 0.3% in the third quarter. Nordea Investment Management AB now owns 1,747,418 shares of the company’s stock valued at $201,739,000 after buying an additional 6,022 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.
Aetna Inc (NYSE:AET) traded up 0.50% during mid-day trading on Friday, hitting $127.55. The company had a trading volume of 2,485,324 shares. Aetna Inc has a 52-week low of $104.59 and a 52-week high of $136.50. The company has a market capitalization of $44.86 billion, a P/E ratio of 19.90 and a beta of 0.61. The company has a 50-day moving average price of $128.96 and a 200 day moving average price of $121.87.
Aetna (NYSE:AET) last released its quarterly earnings results on Tuesday, January 31st. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.19. The business earned $15.73 billion during the quarter, compared to analysts’ expectations of $15.84 billion. Aetna had a return on equity of 16.39% and a net margin of 3.58%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. On average, analysts forecast that Aetna Inc will post $8.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 13th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 11th. This is a boost from Aetna’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.57%. Aetna’s dividend payout ratio is currently 15.67%.
AET has been the subject of several research analyst reports. Zacks Investment Research upgraded Aetna from a “sell” rating to a “hold” rating in a research report on Monday, January 9th. Vetr upgraded Aetna from a “hold” rating to a “buy” rating and set a $131.19 target price for the company in a research report on Thursday, December 15th. Cantor Fitzgerald reiterated a “buy” rating and set a $140.00 target price on shares of Aetna in a research report on Monday, February 6th. Leerink Swann downgraded Aetna from an “outperform” rating to a “market perform” rating and set a $135.00 target price for the company. in a research report on Tuesday, January 24th. Finally, Piper Jaffray Companies initiated coverage on Aetna in a research report on Wednesday, January 4th. They set a “neutral” rating and a $136.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Aetna presently has an average rating of “Buy” and an average price target of $134.65.
In other news, VP Francis S. Soistman, Jr. sold 6,607 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $131.98, for a total transaction of $871,991.86. Following the completion of the transaction, the vice president now directly owns 23,454 shares in the company, valued at approximately $3,095,458.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shawn M. Guertin sold 29,602 shares of the stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $129.35, for a total value of $3,829,018.70. Following the transaction, the insider now owns 44,880 shares of the company’s stock, valued at $5,805,228. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
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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