Stock Update: Aetna Inc (NYSE:AET) – Illinois insurance regulator approves Aetna purchase of Humana

[Reuters] – The Illinois Department of Insurance has approved Aetna Inc’s proposed $34 billion acquisition of Humana Inc provided it is approved by the U.S. Department of Justice, according to an order dated June 23 posted on the department’s website. Aetna announced the deal last summer and it is under review by the Justice Department, which is looking at competition concerns around its combined Medicare Advantage business for older people and the disabled. Read more on this. Aetna Inc. (AET) , with a current value of $40.52B, opened at $116.80. Shares have traded today between $114.48 and $116.99 per share with a trailing 52-week range being $92.42 to $129.74. AET shares are currently priced at 14.65x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.54x earnings multiple for the same period. The company pays shareholders $1.00 per share annually in dividends, yielding 0.85%. According to a consensus of 20 analysts, the earnings estimate of $2.12 per share would be $0.07 better than the year-ago quarter and a $0.01 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $8.03 is a $0.32 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $15.70 Billion. If realized, that would be a 3.77% increase over the year-ago quarter. In terms of ratings, Bernstein Initiated AET at Outperform (Jun 16, 2016). Previously, Jefferies downgraded AET from Buy to Hold. Investors should keep in mind is that the average price target is $139.29, which is 19.26% above where the stock opened this morning. See more in (NYSE:AET) Similar Articles: Stock Update: Aetna Inc (NYSE:AET) – California insurance commissioner urges DOJ to block Aetna-Humana deal Stock Update (NYSE:AET): California regulator approves Aetna-Humana deal with conditions Stock Update (NYSE:AET): Aetna-Humana tie-up is anti-competitive in Missouri – state regulator