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TheStreet Open House

Why Aetna (AET) Stock Is Lower Today

Stocks in this article: AETCVH

NEW YORK (TheStreet) -- Shares of Aetna  (AET) are down -3.62% to $81.75 today after the company reported that in its second quarter, health care costs, its biggest expense, rose 29% to $10.31 billion, and its tax rate climbed to 41% from 37%, due to a a non-deductible health insurer fee imposed by the health care overhaul, USA Today reports.

Revenue for the second quarter rose to $14.5 billion from $11.5 billion a year ago.

The insurer posted GAAP net income of $548.8 million for the second quarter, or $1.52 earnings per share, up from $536 million, or $1.49 earnings per share in the same quarter of 2013, getting a boost from its acquisition of Coventry Health Care.

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AET Chart AET data by YCharts

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