TIAA CREF Investment Management LLC reduced its stake in Aetna Inc (NYSE:AET) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,423,148 shares of the company’s stock after selling 205,981 shares during the period. TIAA CREF Investment Management LLC owned 0.44% of Aetna worth $256,722,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Focused Wealth Management Inc increased its stake in shares of Aetna by 84.5% during the fourth quarter. Focused Wealth Management Inc now owns 655 shares of the company’s stock valued at $118,000 after purchasing an additional 300 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Aetna during the fourth quarter valued at approximately $125,000. James Hambro & Partners bought a new position in shares of Aetna during the fourth quarter valued at approximately $158,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Aetna during the fourth quarter valued at approximately $180,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Aetna during the fourth quarter valued at approximately $182,000. 87.34% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on AET shares. ValuEngine raised shares of Aetna from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Cowen reaffirmed a “buy” rating and set a $212.00 target price on shares of Aetna in a research note on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $212.00 target price on shares of Aetna in a research note on Tuesday, January 30th. Deutsche Bank raised shares of Aetna from a “hold” rating to a “buy” rating and raised their target price for the company from $195.00 to $212.00 in a research note on Monday, January 22nd. Finally, Morgan Stanley downgraded shares of Aetna from an “overweight” rating to an “equal weight” rating and set a $179.00 target price for the company. in a research note on Wednesday, December 20th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $189.50.
Aetna (NYSE:AET) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.07. The company had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $14.79 billion. Aetna had a net margin of 3.15% and a return on equity of 21.50%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. research analysts forecast that Aetna Inc will post 11.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Thursday, April 12th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, April 11th. Aetna’s dividend payout ratio (DPR) is currently 34.78%.
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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