Aetna Reports Solid Quarter Despite Loss, Humana Breakup Fee Weighs on Results
Aetna reported a loss during its first quarter, but this loss was largely driven by costs associated with the termination of the Humana acquisition, and we don’t expect any significant changes to our fair value estimate or narrow moat rating based on the results. Adjusting for these costs, Aetna was able to expand its profitability with adjusted operating margins increasing 34 basis points to 9.37%. Positively, the firm was able to drive its centralized costs expense ratio, excluding acquisition...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.
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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.
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