California State Teachers Retirement System trimmed its position in Aetna Inc. (NYSE:AET) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 615,001 shares of the company’s stock after selling 75,603 shares during the quarter. California State Teachers Retirement System owned approximately 0.19% of Aetna worth $93,376,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Guardian Life Insurance Co. of America raised its stake in Aetna by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock worth $173,000 after acquiring an additional 9 shares in the last quarter. Concert Wealth Management Inc. raised its stake in Aetna by 0.4% during the 1st quarter. Concert Wealth Management Inc. now owns 3,262 shares of the company’s stock worth $405,000 after acquiring an additional 14 shares in the last quarter. JNBA Financial Advisors raised its stake in Aetna by 0.7% during the 1st quarter. JNBA Financial Advisors now owns 3,726 shares of the company’s stock worth $475,000 after acquiring an additional 27 shares in the last quarter. Financial Architects Inc raised its stake in Aetna by 1.8% during the 2nd quarter. Financial Architects Inc now owns 1,746 shares of the company’s stock worth $265,000 after acquiring an additional 31 shares in the last quarter. Finally, Wedbush Securities Inc. raised its stake in Aetna by 1.4% during the 2nd quarter. Wedbush Securities Inc. now owns 3,779 shares of the company’s stock worth $574,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.
AET has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Aetna from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, July 4th. Citigroup Inc. initiated coverage on shares of Aetna in a research note on Wednesday, June 28th. They set a “buy” rating and a $180.00 price target on the stock. BidaskClub lowered shares of Aetna from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Argus reiterated a “buy” rating and set a $185.00 price target (up from $165.00) on shares of Aetna in a research note on Tuesday, September 12th. Finally, Deutsche Bank AG lifted their price target on shares of Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $160.77.
Shares of Aetna Inc. (NYSE:AET) traded down 1.40% during mid-day trading on Tuesday, hitting $156.01. 605,932 shares of the company traded hands. Aetna Inc. has a 52-week low of $104.59 and a 52-week high of $164.52. The firm has a market cap of $51.81 billion, a price-to-earnings ratio of 34.63 and a beta of 0.53. The firm has a 50-day moving average price of $158.35 and a 200 day moving average price of $148.36.
Aetna (NYSE:AET) last announced its earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.34 by $1.08. The firm had revenue of $15.52 billion during the quarter, compared to analyst estimates of $15.34 billion. Aetna had a net margin of 2.52% and a return on equity of 20.52%. Aetna’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. Equities research analysts anticipate that Aetna Inc. will post $9.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, October 12th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. Aetna’s dividend payout ratio is presently 43.67%.
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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