Aetna Inc. (NYSE:AET) Price Target Raised to $163.00
Aetna Inc. (NYSE:AET) had its price objective hoisted by equities research analysts at Deutsche Bank AG from $157.00 to $163.00 in a note issued to investors on Monday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s price target would suggest a potential upside of 3.83% from the stock’s current price.
AET has been the topic of a number of other reports. Jefferies Group LLC reissued a “hold” rating and set a $133.00 price target on shares of Aetna in a research report on Thursday, April 13th. Credit Suisse Group reissued a “buy” rating and set a $155.00 price target on shares of Aetna in a research report on Wednesday, May 17th. Cowen and Company set a $170.00 price target on shares of Aetna and gave the stock a “buy” rating in a research report on Saturday, May 27th. Zacks Investment Research raised shares of Aetna from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, July 4th. Finally, Citigroup Inc. assumed coverage on shares of Aetna in a research report on Wednesday, June 28th. They set a “buy” rating and a $180.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $155.78.
Shares of Aetna (AET) traded up 0.13% during mid-day trading on Monday, reaching $156.99. The company had a trading volume of 1,283,443 shares. Aetna has a 52-week low of $104.59 and a 52-week high of $157.79. The company has a market capitalization of $52.07 billion, a PE ratio of 47.88 and a beta of 0.54. The company’s 50-day moving average price is $153.22 and its 200-day moving average price is $137.42.
Aetna (NYSE:AET) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $1.08. The company had revenue of $15.52 billion for the quarter, compared to analysts’ expectations of $15.34 billion. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. On average, analysts forecast that Aetna will post $9.38 earnings per share for the current fiscal year.
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In other Aetna news, Chairman Mark T. Bertolini sold 103,547 shares of Aetna stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $140.79, for a total value of $14,578,382.13. Following the sale, the chairman now directly owns 659,888 shares in the company, valued at approximately $92,905,631.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margaret M. Mccarthy sold 27,028 shares of Aetna stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the completion of the sale, the executive vice president now owns 33,563 shares in the company, valued at $5,008,606.49. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. raised its position in Aetna by 8.4% in the first quarter. Raymond James Trust N.A. now owns 6,641 shares of the company’s stock valued at $847,000 after buying an additional 514 shares in the last quarter. Creative Planning raised its position in Aetna by 13.3% in the first quarter. Creative Planning now owns 16,574 shares of the company’s stock valued at $2,114,000 after buying an additional 1,946 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Aetna by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 109,635 shares of the company’s stock valued at $13,983,000 after buying an additional 1,450 shares in the last quarter. Koshinski Asset Management Inc. raised its position in Aetna by 448.0% in the first quarter. Koshinski Asset Management Inc. now owns 14,939 shares of the company’s stock valued at $1,905,000 after buying an additional 12,213 shares in the last quarter. Finally, National Pension Service raised its position in Aetna by 2.2% in the first quarter. National Pension Service now owns 263,118 shares of the company’s stock valued at $33,392,000 after buying an additional 5,705 shares in the last quarter. Institutional investors own 91.73% 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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