Riggs Asset Managment Lowers stake in Aetna Inc (AET)

Aetna Inc (AET) : Riggs Asset Managment reduced its stake in Aetna Inc by 7.63% during the most recent quarter end. The investment management company now holds a total of 52,275 shares of Aetna Inc which is valued at $5.6 Million after selling 4,320 shares in Aetna Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Aetna Inc makes up approximately 4.09% of Riggs Asset Managment’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec boosted its stake in AET in the latest quarter, The investment management firm added 43,300 additional shares and now holds a total of 191,527 shares of Aetna Inc which is valued at $20.7 Million. Aetna Inc makes up approx 0.06% of Caisse De Depot Et Placement Du Quebec’s portfolio.Cornerstone Capital Management Holdings. reduced its stake in AET by selling 43,677 shares or 27.8% in the most recent quarter. The Hedge Fund company now holds 113,450 shares of AET which is valued at $12.2 Million. Aetna Inc makes up approx 0.10% of Cornerstone Capital Management Holdings.’s portfolio.Stephens Inc Ar reduced its stake in AET by selling 227 shares or 9.09% in the most recent quarter. The Hedge Fund company now holds 2,270 shares of AET which is valued at $256,101. Aetna Inc makes up approx 0.01% of Stephens Inc Ar’s portfolio.

Aetna Inc opened for trading at $112.31 and hit $113.85 on the upside on Wednesday, eventually ending the session at $113.69, with a gain of 1.85% or 2.06 points. The heightened volatility saw the trading volume jump to 29,27,697 shares. Company has a market cap of $39,860 M.

On the company’s financial health, Aetna Inc reported $2.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $2.23. The company had revenue of $15693.80 million for the quarter, compared to analysts expectations of $15534.40 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.39 EPS.

Investors should note that on May 20, 2016, Aetna Inc announced a cash dividend of $0.2500. The company’s management has announced Jul 12, 2016 as the ex-dividend date and fixed the record date on Jul 14, 2016. The payable date has been fixed on Jul 29, 2016.

Many Wall Street Analysts have commented on Aetna Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 144 from a previous price target of $140 .

Aetna Inc. is a diversified health care benefits company. The Company offers a range of traditional voluntary and consumer-directed health insurance products and related services. The Company’s operations are conducted in three business segments: Health Care Group Insurance and Large Case Pensions. The Company’s Health Care segment includes medical pharmacy benefit management services dental behavioral health and vision plans. The Company’s Group Insurance segment’s products consist primarily of Life Insurance Products Disability Insurance Products and Long-Term Care Insurance Products. The Company’s Large Case Pensions segment manages a variety of retirement products (including pension and annuity products) primarily for tax-qualified pension plans. The Company’s customers include employer groups individuals college students part-time and hourly workers health plans health care providers Governmental units Government-sponsored plans labor groups and expatriates.

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