Laffer Investments cut its holdings in Aetna Inc (NYSE:AET) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,210 shares of the company’s stock after selling 1,135 shares during the period. Laffer Investments’ holdings in Aetna were worth $2,578,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Bruderman Asset Management LLC acquired a new position in Aetna during the 2nd quarter worth $106,000. Lloyds Banking Group plc acquired a new position in Aetna during the 3rd quarter worth $106,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Aetna during the 3rd quarter worth $116,000. Westside Investment Management Inc. lifted its position in Aetna by 53.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock worth $177,000 after acquiring an additional 400 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new position in Aetna during the 2nd quarter worth $182,000. Hedge funds and other institutional investors own 88.01% of the company’s stock.
Shares of Aetna Inc (NYSE:AET) opened at $179.11 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $59,138.27, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. Aetna Inc has a 52 week low of $116.04 and a 52 week high of $192.37.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Thursday, January 11th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 10th. This represents a $2.00 annualized dividend and a yield of 1.12%. Aetna’s dividend payout ratio is 37.04%.
A number of research analysts have weighed in on the stock. Argus lowered shares of Aetna from a “buy” rating to a “hold” rating and set a $185.00 target price for the company. in a research report on Wednesday, December 6th. Zacks Investment Research lowered shares of Aetna from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Credit Suisse Group reaffirmed a “neutral” rating and set a $195.00 price objective (up previously from $174.00) on shares of Aetna in a research report on Wednesday, December 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $175.00 price objective on shares of Aetna in a research report on Monday, October 23rd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $208.00 price objective (up previously from $200.00) on shares of Aetna in a research report on Monday, December 4th. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Aetna currently has an average rating of “Buy” and a consensus target price of $175.19.
In other Aetna news, EVP Margaret M. Mccarthy sold 10,288 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $162.85, for a total transaction 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 Securities & Exchange Commission, which is available through this link. Also, President Karen S. Lynch sold 15,271 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $161.91, for a total transaction of $2,472,527.61. Following 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 currently owned by corporate insiders.
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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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