Renaissance Group LLC Sells 1,011 Shares of Aetna Inc. (AET)
Renaissance Group LLC lessened its position in shares of Aetna Inc. (NYSE:AET) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,579 shares of the company’s stock after selling 1,011 shares during the quarter. Aetna comprises 1.3% of Renaissance Group LLC’s portfolio, making the stock its 5th biggest holding. Renaissance Group LLC owned approximately 0.08% of Aetna worth $38,891,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new position in shares of Aetna in the 2nd quarter worth approximately $106,000. Lloyds Banking Group plc purchased a new position in shares of Aetna in the 3rd quarter worth approximately $106,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Aetna in the 3rd quarter worth approximately $116,000. Liberty Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 629 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 88.41% of the company’s stock.
Aetna Inc. (NYSE AET) traded up $1.74 on Tuesday, hitting $174.94. The stock had a trading volume of 2,837,700 shares, compared to its average volume of 2,435,942. The company has a market cap of $57,050.00, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61. 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 52-week low of $116.04 and a 52-week high of $184.98.
Aetna (NYSE:AET) last released its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.39. The firm had revenue of $14.99 billion during the quarter, compared to analyst estimates of $15.12 billion. Aetna had a return on equity of 21.84% and a net margin of 2.93%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. research analysts forecast that Aetna Inc. will post 9.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, October 12th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, October 11th. Aetna’s payout ratio is 36.97%.
AET has been the subject of a number of recent research reports. Argus reiterated a “buy” rating and issued a $185.00 target price (up previously 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 “buy” rating and set a $174.00 target price for the company in a report on Thursday, October 12th. Citigroup Inc. lifted their target price on Aetna from $183.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Jefferies Group LLC lifted their target price on Aetna from $163.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, October 13th. Finally, Deutsche Bank AG lifted their target price on Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, August 7th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Aetna currently has a consensus rating of “Buy” and an average price target of $172.36.
In other news, EVP Margaret M. Mccarthy sold 10,288 shares of the business’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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction, the president now directly owns 64,261 shares of the company’s stock, valued at $10,404,498.51. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
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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