Los Angeles Capital Management & Equity Research Inc. Reduces Position in Aetna Inc. (AET)

Los Angeles Capital Management & Equity Research Inc. lessened its holdings in Aetna Inc. (NYSE:AET) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,254 shares of the company’s stock after selling 38,423 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.08% of Aetna worth $41,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bruderman Asset Management LLC bought a new position in Aetna in the 2nd quarter valued at approximately $106,000. Lloyds Banking Group plc bought a new position in Aetna in the 3rd quarter valued at approximately $106,000. Moisand Fitzgerald Tamayo LLC bought a new position in Aetna in the 3rd quarter valued at approximately $116,000. Liberty Capital Management Inc. raised its holdings in Aetna by 206.9% in the 2nd quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after buying an additional 629 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in Aetna by 53.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock valued at $177,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Aetna Inc. (NYSE:AET) traded down $2.10 during midday trading on Tuesday, reaching $173.02. 2,193,300 shares of the company traded hands, compared to its average volume of 2,446,281. Aetna Inc. has a twelve month low of $116.04 and a twelve month high of $184.98. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52. The firm has a market cap of $57,106.63, a P/E ratio of 17.15, a P/E/G ratio of 1.60 and a beta of 0.61.

Aetna (NYSE:AET) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.39. Aetna had a net margin of 2.93% and a return on equity of 21.84%. The business had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $15.12 billion. During the same quarter last year, the firm posted $2.07 EPS. Aetna’s revenue was down 5.0% compared to the same quarter last year. sell-side analysts anticipate that Aetna Inc. will post 9.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, October 12th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, October 11th. Aetna’s payout ratio is currently 37.04%.

A number of brokerages recently issued reports on AET. Cantor Fitzgerald lowered shares of Aetna from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. BMO Capital Markets raised their price target on shares of Aetna from $175.00 to $200.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Raymond James Financial, Inc. upgraded 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. Piper Jaffray Companies restated a “hold” rating and set a $187.00 price target on shares of Aetna in a report on Friday, November 3rd. Finally, Jefferies Group LLC raised their price target on shares of Aetna from $165.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 1st. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $170.34.

In related news, President Karen S. Lynch sold 15,271 shares of Aetna stock in a transaction on Monday, September 18th. The shares were sold at an average price of $161.91, for a total value of $2,472,527.61. Following the completion of the sale, the president now owns 64,261 shares of the company’s stock, valued at approximately $10,404,498.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Margaret M. Mccarthy sold 10,288 shares of Aetna stock in a transaction 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 approximately $5,465,734.55. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

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About Aetna

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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Institutional Ownership by Quarter for Aetna (NYSE:AET)

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