Cubist Systematic Strategies LLC lowered its position in Aetna Inc. (NYSE:AET) by 91.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,580 shares of the company’s stock after selling 16,930 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Aetna were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC acquired a new position in shares of Aetna in the second quarter valued at approximately $106,000. Liberty Capital Management Inc. increased 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 valued at $144,000 after buying an additional 629 shares during the period. Deschutes Portfolio Strategy LLC acquired a new position in shares of Aetna in the second quarter valued at approximately $200,000. Institute for Wealth Management LLC. acquired a new position in shares of Aetna in the second quarter valued at approximately $201,000. Finally, Guardian Life Insurance Co. of America increased its stake in shares of Aetna by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock valued at $173,000 after buying an additional 9 shares during the period. 89.45% of the stock is owned by institutional investors.
In related news, 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 directly owns 33,563 shares of the company’s stock, valued at $5,465,734.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Karen S. Lynch sold 15,271 shares of the business’s stock in a transaction 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 completion of the sale, the president now directly owns 64,261 shares in the company, valued at $10,404,498.51. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
Aetna (NYSE:AET) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.39. The company had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $15.12 billion. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.07 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, October 12th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 11th. This represents a $2.00 annualized dividend and a yield of 1.18%. Aetna’s payout ratio is 37.04%.
Several research firms have recently issued reports on AET. Deutsche Bank AG upped their price objective on Aetna from $144.00 to $157.00 and gave the company a “hold” rating in a research note on Thursday, July 13th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $165.00 price objective (up previously from $160.00) on shares of Aetna in a research note on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $163.00 price objective (up previously from $157.00) on shares of Aetna in a research note on Friday, August 4th. Zacks Investment Research downgraded Aetna from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price (up previously from $150.00) on shares of Aetna in a research report on Wednesday, August 9th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $164.72.
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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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