Aetna Inc. (AET) Posts Earnings Results, Beats Estimates By $0.39 EPS
Aetna Inc. (NYSE:AET) posted its quarterly earnings data on Tuesday. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.06 by $0.39, Bloomberg Earnings reports. The business had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $15.12 billion. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The firm’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. Aetna updated its FY17 guidance to ~$9.75 EPS.
Aetna (AET) traded up 0.72% on Wednesday, hitting $171.26. 271,397 shares of the stock traded hands. Aetna has a 52 week low of $104.59 and a 52 week high of $184.98. The firm has a market capitalization of $56.88 billion, a PE ratio of 38.02 and a beta of 0.53. The stock has a 50 day moving average of $159.75 and a 200 day moving average of $152.04.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, October 12th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 11th. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. Aetna’s dividend payout ratio is presently 43.67%.
In other Aetna news, President Karen S. Lynch sold 15,271 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $161.91, for a total transaction of $2,472,527.61. Following the completion of the sale, the president now directly owns 64,261 shares of the company’s stock, valued at approximately $10,404,498.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Margaret M. Mccarthy sold 10,288 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
AET has been the topic of several research reports. Argus reaffirmed a “buy” rating and issued a $185.00 price objective (up from $165.00) on shares of Aetna in a research report on Tuesday, September 12th. BMO Capital Markets boosted their price objective on shares of Aetna from $175.00 to $200.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. BidaskClub cut shares of Aetna from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Morgan Stanley boosted their price objective on shares of Aetna from $172.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research raised shares of Aetna from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, July 4th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $163.67.
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Aetna Company Profile
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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