SSI Investment Management Inc. Reduces Position in Aetna Inc. (AET)

SSI Investment Management Inc. lowered its position in Aetna Inc. (NYSE:AET) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,097 shares of the company’s stock after selling 28 shares during the period. SSI Investment Management Inc.’s holdings in Aetna were worth $320,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank increased its holdings in Aetna by 50.7% in the second quarter. Amalgamated Bank now owns 37,209 shares of the company’s stock worth $5,649,000 after buying an additional 12,516 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in Aetna in the second quarter worth approximately $106,000. Nationwide Fund Advisors increased its holdings in Aetna by 7.1% in the second quarter. Nationwide Fund Advisors now owns 221,774 shares of the company’s stock worth $33,672,000 after buying an additional 14,676 shares during the last quarter. Comerica Securities Inc. acquired a new position in Aetna in the second quarter worth approximately $419,000. Finally, Captrust Financial Advisors acquired a new position in Aetna in the second quarter worth approximately $1,231,000. Hedge funds and other institutional investors own 89.58% of the company’s stock.

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Several brokerages have commented on AET. Royal Bank Of Canada increased their price target on Aetna from $147.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, June 9th. BidaskClub downgraded Aetna from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Deutsche Bank AG increased their price target on Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a report on Monday, August 7th. Morgan Stanley began coverage on Aetna in a report on Tuesday, June 6th. They set an “overweight” rating and a $162.00 price target on the stock. Finally, Argus reiterated a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Aetna in a report on Tuesday, May 30th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Aetna has an average rating of “Buy” and a consensus price target of $159.04.

Shares of Aetna Inc. (AET) traded down 0.06% on Friday, reaching $162.68. The company had a trading volume of 1,977,451 shares. The company’s 50-day moving average price is $157.29 and its 200-day moving average price is $145.07. The firm has a market capitalization of $54.03 billion, a price-to-earnings ratio of 36.11 and a beta of 0.53. Aetna Inc. has a 52-week low of $104.59 and a 52-week high of $164.52.

Aetna (NYSE:AET) last posted its 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 business had revenue of $15.52 billion for the quarter, compared to analyst estimates of $15.34 billion. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 EPS. On average, analysts predict that Aetna Inc. will post $9.55 earnings per share for the current year.

Aetna 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.

Institutional Ownership by Quarter for Aetna (NYSE:AET)

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