Aetna Receives “Overweight” Rating from JPMorgan Chase & Co. (AET)
Aetna (NYSE:AET)‘s stock had its “overweight” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday. They currently have a $81.00 price target on the stock, up from their previous price target of $78.00. JPMorgan Chase & Co.’s price target indicates a potential upside of 4.03% from the stock’s previous close.
In other Aetna news, Director Franklin Barbara Hackman sold 2,665 shares of Aetna stock on the open market in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $77.26, for a total transaction of $205,897.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on AET. Analysts at Cantor Fitzgerald raised their price target on shares of Aetna from $75.00 to $85.00 in a research note on Monday. They now have a “hold” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Aetna from $76.00 to $87.00 in a research note on Friday. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Aetna in a research note on Tuesday, May 13th. They now have a $83.00 price target on the stock. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $80.18.
Aetna (NYSE:AET) traded up 0.39% on Tuesday, hitting $78.16. 643,259 shares of the company’s stock traded hands. Aetna has a 52 week low of $57.72 and a 52 week high of $78.23. The stock has a 50-day moving average of $73.29 and a 200-day moving average of $70.69. The company has a market cap of $27.934 billion and a price-to-earnings ratio of 13.71.
Aetna (NYSE:AET) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.98 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.55 by $0.43. The company had revenue of $13.97 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the company posted $1.50 earnings per share. Aetna’s revenue was up 46.9% compared to the same quarter last year. On average, analysts predict that Aetna will post $6.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 25th. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Tuesday, July 8th.
Aetna Inc (NYSE:AET), is a diversified healthcare benefits company.
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