Argus Lowers Aetna (AET) to Hold
Aetna (NYSE:AET) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, The Fly reports.
Several other brokerages also recently issued reports on AET. Wells Fargo & Company reissued an “outperform” rating and set a $208.00 price target (up from $200.00) on shares of Aetna in a report on Monday. BMO Capital Markets lifted their price target on shares of Aetna from $175.00 to $200.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Cantor Fitzgerald downgraded shares of Aetna from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Raymond James Financial raised shares of Aetna from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Friday, November 3rd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $187.00 price target on shares of Aetna in a report on Friday, November 3rd. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $174.14.
Aetna (NYSE:AET) opened at $178.69 on Wednesday. Aetna has a 1-year low of $116.04 and a 1-year high of $192.37. The stock has a market cap of $58,274.07, a PE ratio of 17.50, a P/E/G ratio of 1.63 and a beta of 0.61. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52.
In related news, EVP Margaret M. Mccarthy sold 10,288 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at $5,465,734.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Karen S. Lynch sold 15,271 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $10,404,498.51. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Aetna by 3,374.9% during the first quarter. BlackRock Inc. now owns 30,712,219 shares of the company’s stock valued at $3,917,344,000 after purchasing an additional 29,828,390 shares during the period. FMR LLC grew its holdings in Aetna by 73.8% during the second quarter. FMR LLC now owns 13,736,800 shares of the company’s stock valued at $2,085,659,000 after purchasing an additional 5,833,567 shares during the period. Glenview Capital Management LLC acquired a new position in Aetna during the fourth quarter valued at approximately $644,116,000. Janus Henderson Group PLC boosted its holdings in shares of Aetna by 9,446.2% in the second quarter. Janus Henderson Group PLC now owns 4,328,900 shares of the company’s stock valued at $657,255,000 after buying an additional 4,283,553 shares during the period. Finally, Capital World Investors boosted its holdings in shares of Aetna by 114.0% in the fourth quarter. Capital World Investors now owns 7,867,000 shares of the company’s stock valued at $850,580,000 after buying an additional 4,191,558 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.
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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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