Bank of Nova Scotia Has $43.47 Million Position in Aetna Inc. (AET)

Bank of Nova Scotia decreased its position in Aetna Inc. (NYSE:AET) by 27.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,769 shares of the company’s stock after selling 126,793 shares during the period. Bank of Nova Scotia owned about 0.10% of Aetna worth $43,465,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Point72 Asset Management L.P. increased its stake in shares of Aetna by 82.0% in the first quarter. Point72 Asset Management L.P. now owns 228,300 shares of the company’s stock valued at $29,120,000 after buying an additional 102,831 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Aetna by 38.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,703 shares of the company’s stock valued at $855,000 after buying an additional 1,849 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Aetna by 7.1% in the first quarter. HighTower Advisors LLC now owns 44,996 shares of the company’s stock valued at $5,734,000 after buying an additional 2,998 shares in the last quarter. Credit Suisse AG increased its stake in shares of Aetna by 3.6% in the first quarter. Credit Suisse AG now owns 988,100 shares of the company’s stock valued at $126,033,000 after buying an additional 34,198 shares in the last quarter. Finally, Clough Capital Partners L P purchased a new stake in shares of Aetna during the first quarter valued at approximately $1,046,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

Aetna Inc. (NYSE:AET) traded down 1.10% during midday trading on Friday, reaching $156.79. The company had a trading volume of 3,112,621 shares. The stock’s 50 day moving average is $153.22 and its 200 day moving average is $137.42. Aetna Inc. has a 12-month low of $104.59 and a 12-month high of $161.69. The firm has a market capitalization of $52.01 billion, a price-to-earnings ratio of 47.82 and a beta of 0.54.

Aetna (NYSE:AET) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $1.08. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The business had revenue of $15.52 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. Equities research analysts expect that Aetna Inc. will post $9.10 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Thursday, July 13th were given a $0.50 dividend. The ex-dividend date was Tuesday, July 11th. This represents a $2.00 annualized dividend and a yield of 1.28%. Aetna’s dividend payout ratio is currently 43.67%.

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Several research analysts recently issued reports on AET shares. Jefferies Group LLC reiterated a “hold” rating and set a $133.00 price target on shares of Aetna in a research report on Thursday, April 13th. Citigroup Inc. started coverage on shares of Aetna in a research report on Wednesday, June 28th. They set a “buy” rating and a $180.00 price target on the stock. Cleveland Research upgraded shares of Aetna from a “neutral” rating to a “buy” rating in a research report on Thursday, May 11th. Cantor Fitzgerald reiterated a “buy” rating and set a $150.00 price target on shares of Aetna in a research report on Friday, May 12th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $155.00 price target on shares of Aetna in a research report on Wednesday, May 17th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $155.46.

In other news, Chairman Mark T. Bertolini sold 103,547 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $140.79, for a total transaction of $14,578,382.13. Following the transaction, the chairman now owns 659,888 shares of the company’s stock, valued at approximately $92,905,631.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $149.23, for a total value of $4,033,388.44. Following the transaction, the executive vice president now directly owns 33,563 shares in the company, valued at approximately $5,008,606.49. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

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.