Report
Vishnu Lekraj
EUR 101.80 For Business Accounts Only

Aetna faces some uncertainty given healthcare legislation and its failed Humana acquisition.

Based on a better near-term profit outlook for Aetna and management’s decision to grow its operations more cautiously, we believe the firm will deliver economic profits slightly above our current assumptions over our explicit forecast period. Accordingly, we plan to moderately increase our fair value estimate for the managed-care organization; however, we are keeping our narrow moat rating intact. 
Despite the uncertainty that has engulfed the entire health insurance market over the last year, A...
Underlying
Aetna Inc.

Aetna is a health care benefits company. The company conducts its operations in three business segments: Health Care, which provides medical, pharmacy benefit management services, dental, behavioral health and vision plans provided on both an insured basis and an employer-funded basis and businesses products and services that complement its medical products; Group Insurance, which primarily includes group life insurance and group disability products and long-term care products; and Large Case Pensions, which manages a variety of retirement products (including pension and annuity products) primarily for tax-qualified pension plans.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Vishnu Lekraj

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