Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOLT TIMOTHY A
  2. Issuer Name and Ticker or Trading Symbol
AETNA INC /PA/ [AET]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. VP & Chief Investment Off.
(Last)
(First)
(Middle)
AETNA INC., 151 FARMINGTON AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
12/11/2006
(Street)

HARTFORD, CT 06156
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/11/2006   M   17,108 A $ 10.5147 0 D  
Common Stock 12/11/2006   M   7,892 A $ 10.8457 0 D  
Common Stock 12/11/2006   S(1)   2,500 D $ 42.86 0 D  
Common Stock 12/11/2006   S(1)   100 D $ 42.88 0 D  
Common Stock 12/11/2006   S(1)   2,400 D $ 42.89 0 D  
Common Stock 12/11/2006   S(1)   2,500 D $ 42.93 0 D  
Common Stock 12/11/2006   S(1)   2,500 D $ 42.94 0 D  
Common Stock 12/11/2006   S(1)   2,500 D $ 42.69 0 D  
Common Stock 12/11/2006   S(1)   2,500 D $ 42.39 0 D  
Common Stock 12/11/2006   S(1)   2,500 D $ 42.97 0 D  
Common Stock 12/11/2006   S(1)   200 D $ 42.98 0 D  
Common Stock 12/11/2006   S(1)   200 D $ 42.99 0 D  
Common Stock 12/11/2006   S(1)   1,900 D $ 43 0 D  
Common Stock 12/11/2006   S(1)   200 D $ 43.01 0 D  
Common Stock 12/11/2006   S(1)   500 D $ 43.03 0 D  
Common Stock 12/11/2006   S(1)   1,500 D $ 43.04 0 D  
Common Stock 12/11/2006   S(1)   800 D $ 43.05 0 D  
Common Stock 12/11/2006   S(1)   2,200 D $ 43.06 91,392 D  
Common Stock               6,397.9281 I By 401(k) Plan (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option $ 10.5147 12/11/2006   M     17,108 02/27/1999 02/27/2008 Common Stock 17,108 $ 10.5147 0 D  
Employee Stock Option $ 10.8457 12/11/2006   M     7,892 01/29/2000 01/29/2009 Common Stock 7,892 $ 10.8457 137,528 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOLT TIMOTHY A
AETNA INC.
151 FARMINGTON AVENUE
HARTFORD, CT 06156
      Sr. VP & Chief Investment Off.  

Signatures

 Timothy A. Holt by Judith H. Jones, Attorney -in-fact   12/12/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Sale was effected purusant to a Rule 10b-5 trading plan adopted by reporting person on October 30, 2006.
(2) Represents the pro rata portion of the stock portion of Aetna Common Stock Fund held by reporting person on November 30, 2006 pursuant to Aetna Inc. 401(k) Plan. The information is based on information provided by the Plan Trustee as of that date.

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