Oppenheimer & Co. Inc. Trims Stake in Aetna Inc (AET)

Share on StockTwits

Oppenheimer & Co. Inc. trimmed its holdings in Aetna Inc (NYSE:AET) by 73.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,740 shares of the company’s stock after selling 4,883 shares during the period. Oppenheimer & Co. Inc.’s holdings in Aetna were worth $353,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wolverine Asset Management LLC increased its stake in shares of Aetna by 31.7% during the second quarter. Wolverine Asset Management LLC now owns 47,351 shares of the company’s stock worth $8,688,000 after acquiring an additional 11,408 shares during the period. Havens Advisors LLC increased its stake in shares of Aetna by 32.1% during the third quarter. Havens Advisors LLC now owns 50,200 shares of the company’s stock worth $10,183,000 after acquiring an additional 12,200 shares during the period. Mainstay Capital Management LLC ADV increased its stake in shares of Aetna by 1,696.3% during the second quarter. Mainstay Capital Management LLC ADV now owns 11,209 shares of the company’s stock worth $162,000 after acquiring an additional 10,585 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Aetna by 712.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,584 shares of the company’s stock worth $2,147,000 after acquiring an additional 9,281 shares during the period. Finally, Abrams Capital Management L.P. increased its stake in shares of Aetna by 14.1% during the second quarter. Abrams Capital Management L.P. now owns 1,575,000 shares of the company’s stock worth $289,013,000 after acquiring an additional 195,000 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Shares of AET opened at $209.36 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. Aetna Inc has a twelve month low of $166.88 and a twelve month high of $210.12. The stock has a market cap of $68.37 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.77 and a beta of 0.71.

Aetna (NYSE:AET) last issued its earnings results on Tuesday, October 30th. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.13. Aetna had a net margin of 5.99% and a return on equity of 20.78%. The company had revenue of $15.48 billion for the quarter, compared to analyst estimates of $15.40 billion. During the same period in the prior year, the business posted $2.45 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Aetna Inc will post 11.36 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 0.96%. Aetna’s payout ratio is currently 20.28%.

A number of research analysts have recently issued reports on AET shares. Cantor Fitzgerald lowered shares of Aetna from an “overweight” rating to a “neutral” rating and set a $202.00 price target on the stock. in a research note on Wednesday, August 22nd. Zacks Investment Research upgraded shares of Aetna from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Piper Jaffray Companies lowered shares of Aetna from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $212.00 to $206.00 in a research note on Tuesday, October 30th. Credit Suisse Group lowered their target price on shares of Aetna from $207.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 31st. Finally, Citigroup upped their target price on shares of Aetna from $202.00 to $206.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 31st. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Aetna has an average rating of “Hold” and an average target price of $204.55.

COPYRIGHT VIOLATION NOTICE: This report was published by Week Herald and is the sole property of of Week Herald. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://weekherald.com/2018/11/10/oppenheimer-co-inc-trims-stake-in-aetna-inc-aet.html.

Aetna Profile

Aetna Inc operates as a health care benefits company in the United States. It operates through three segments: Health Care, Group Insurance, and Large Case Pensions. The Health Care segment offers medical, pharmacy benefit management service, dental, behavioral health, and vision plans on an insured and employer-funded basis.

Recommended Story: How is an ETF different from a mutual fund?

Institutional Ownership by Quarter for Aetna (NYSE:AET)

Receive News & Ratings for Aetna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aetna and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply