The stock of Aetna Inc (NYSE:AET) hit a new 52-week high and has $193.20 target or 61.00% above today’s $120.00 share price. The 6 months bullish chart indicates low risk for the $42.78B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $193.20 price target is reached, the company will be worth $26.10 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.33 million shares traded hands or 50.87% up from the average. Aetna Inc (NYSE:AET) has risen 10.75% since April 11, 2016 and is uptrending. It has outperformed by 4.61% the S&P500.
Aetna Inc (NYSE:AET) Ratings Coverage
Out of 11 analysts covering Aetna (NYSE:AET), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. Aetna has been the topic of 18 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was downgraded by Jefferies on Friday, January 8 to “Hold”. The company was initiated on Friday, April 8 by Cleveland. Wedbush maintained the stock with “Neutral” rating in Tuesday, February 2 report. The firm has “Outperform” rating by RBC Capital Markets given on Friday, April 29. On Wednesday, December 16 the stock rating was initiated by Credit Suisse with “Neutral”. RBC Capital Markets upgraded the stock to “Outperform” rating in Tuesday, September 8 report. The firm earned “Outperform” rating on Friday, November 11 by Credit Suisse. On Wednesday, September 16 the stock rating was initiated by JP Morgan with “Overweight”. The rating was upgraded by Bank of America to “Buy” on Thursday, July 30. The stock has “Buy” rating given by Evercore on Friday, September 23.
According to Zacks Investment Research, “Aetna Inc. is one of the nation’s largest health benefits companies and one of the nation’s largest insurance and financial services organizations. Aetna provides these benefits to employer and plan sponsor customers in all 50 states, ranging from large multisite national accounts to middle-market and small-employer groups. Its products include the full range of health insurance, including dental and pharmacy benefits, from HMO and POS to PPO and indemnity, as well as group insurance products such as life, disability and long-term care insurance.”
Insitutional Activity: The institutional sentiment increased to 0.83 in Q2 2016. Its up 0.01, from 0.82 in 2016Q1. The ratio increased, as 50 funds sold all Aetna Inc shares owned while 294 reduced positions. 47 funds bought stakes while 238 increased positions. They now own 313.20 million shares or 5.61% less from 331.82 million shares in 2016Q1.
Apg Asset Nv accumulated 641,470 shares or 0.15% of the stock. Moreover, Focused Wealth Mngmt has 0.08% invested in Aetna Inc (NYSE:AET) for 1,355 shares. Fiduciary Tru last reported 0.07% of its portfolio in the stock. Tower Research Capital Ltd Liability Corporation (Trc) last reported 0.01% of its portfolio in the stock. Amica Pension Fund Board Of Trustees last reported 0.25% of its portfolio in the stock. Citadel Advsr Lc last reported 0.09% of its portfolio in the stock. Moreover, Orbimed Advisors Ltd Llc has 0.15% invested in Aetna Inc (NYSE:AET) for 116,600 shares. Veritable L P last reported 10,022 shares in the company. Amalgamated State Bank, a New York-based fund reported 20,966 shares. Systematic Mngmt L P last reported 219,499 shares in the company. Westpac last reported 0% of its portfolio in the stock. Brown Brothers Harriman & Co last reported 0% of its portfolio in the stock. Putnam Fl Invest Management has 3,044 shares for 0.04% of their US portfolio. Stifel Financial, a Missouri-based fund reported 176,958 shares. Financial Bank Of Hawaii accumulated 0.14% or 10,832 shares.
Insider Transactions: Since August 22, 2016, the stock had 0 insider buys, and 3 selling transactions for $7.28 million net activity. Shares for $1.00M were sold by SOISTMAN FRANCIS S JR on Monday, November 7. 45,328 shares with value of $5.45M were sold by GUERTIN SHAWN M on Monday, August 22. GARTEN JEFFREY E also sold $827,214 worth of Aetna Inc (NYSE:AET) on Wednesday, September 7.
More recent Aetna Inc (NYSE:AET) news were published by: Forbes.com which released: “May 2017 Options Now Available For Aetna (AET)” on November 11, 2016. Also Wsj.com published the news titled: “Aetna Revenue and Profit Rise” on October 27, 2016. Bizjournals.com‘s news article titled: “Aetna’s Bertolini says best parts of Obamacare should be retained” with publication date: November 11, 2016 was also an interesting one.
AET Company Profile
Aetna Inc., incorporated on December 20, 1982, is a diversified healthcare benefits company. The Firm 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 services and products, such as accountable care solutions (ACS). The Firm operates through three divisions: Health Care, Group Insurance and Large Case Pensions. The Company’s clients include employer groups, individuals, college students, part-time and hourly workers, health plans, healthcare providers (providers), Governmental units, Government-sponsored plans, labor groups and expatriates.
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