Cramer Rosenthal Mcglynn LLC Sells 58,835 Shares of Aetna Inc. (AET)
Cramer Rosenthal Mcglynn LLC decreased its holdings in Aetna Inc. (NYSE:AET) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 328,640 shares of the company’s stock after selling 58,835 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 0.10% of Aetna worth $49,897,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Bruderman Asset Management LLC acquired a new stake in Aetna in the second quarter valued at $106,000. Liberty Capital Management Inc. raised its position in Aetna by 206.9% during the 2nd quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock worth $144,000 after purchasing an additional 629 shares during the last quarter. Deschutes Portfolio Strategy LLC acquired a new position in Aetna during the 2nd quarter worth about $200,000. Institute for Wealth Management LLC. acquired a new position in Aetna during the 2nd quarter worth about $201,000. Finally, Guardian Life Insurance Co. of America lifted its holdings 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 buying an additional 9 shares during the period. 89.52% of the stock is currently owned by institutional investors.
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Shares of Aetna Inc. (AET) traded up 0.17% during trading on Wednesday, hitting $163.29. The stock had a trading volume of 277,966 shares. Aetna Inc. has a 52 week low of $104.59 and a 52 week high of $164.52. The stock has a market capitalization of $54.23 billion, a price-to-earnings ratio of 36.25 and a beta of 0.53. The firm has a 50 day moving average price of $157.72 and a 200-day moving average price of $147.43.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.34 by $1.08. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The company had revenue of $15.52 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. Aetna’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that Aetna Inc. will post $9.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, October 12th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 11th. This represents a $2.00 annualized dividend and a yield of 1.23%. Aetna’s payout ratio is 43.67%.
AET has been the topic of a number of analyst reports. Zacks Investment Research lowered Aetna from a “buy” rating to a “hold” rating in a research report on Tuesday. Argus restated a “buy” rating and set a $185.00 price objective (up from $165.00) on shares of Aetna in a research report on Tuesday, September 12th. Morgan Stanley raised their price objective on Aetna from $172.00 to $179.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective (up from $150.00) on shares of Aetna in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG lifted their price objective on Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Aetna has a consensus rating of “Buy” and a consensus target price of $160.77.
In other news, President Karen S. Lynch sold 15,271 shares of the 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 completion of the transaction, the president now owns 64,261 shares of the company’s stock, valued at approximately $10,404,498.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the 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 of the company’s stock, valued at approximately $5,465,734.55. The disclosure for this sale can be found here. Insiders own 1.14% 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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