SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

ROWE JOHN W

(Last)

(First)

(Middle)

151 FARMINGTON AVENUE

(Street)

HARTFORD

06156

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AETNA INC /PA/ [ AET ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman & Chief Exec. Officer

3. Date of Earliest Transaction (Month/Day/Year)
05/23/2005

4. If Amendment, Date of 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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/23/2005		M		37,000	A	$13.1622	0	I	By GRAT
Common Stock	05/23/2005		M		8,000	A	$17.5058	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		300	D	$75.24	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		600	D	$75.25	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		500	D	$75.27	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		700	D	$75.29	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		1,600	D	$75.3	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		400	D	$75.31	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		500	D	$75.32	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		1,400	D	$75.33	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		400	D	$75.34	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		600	D	$75.35	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		800	D	$75.36	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		1,700	D	$75.39	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		800	D	$75.41	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		600	D	$75.42	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		700	D	$75.43	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		400	D	$75.47	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		400	D	$75.49	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		500	D	$75.5	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		500	D	$75.57	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		400	D	$75.59	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		1,100	D	$75.6	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		700	D	$75.61	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		100	D	$75.62	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		600	D	$75.63	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		100	D	$75.64	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		500	D	$75.65	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		2,000	D	$75.69	0	I	By GRATS
Common Stock	05/23/2005		S⁽¹⁾⁽²⁾		1,200	D	$75.7	0	I	By GRATS

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option	$13.1622	05/23/2005		M			37,000	09/15/2001	09/15/2010	Common Stock	37,000	$0	402,458	I	by GRAT
Employee Stock Option	$17.5058	05/23/2005		M			8,000	09/15/2001	09/15/2010	Common Stock	8,000	$0	766,976	I	By GRATS

Explanation of Responses:

1. The sale reported was effected pursuant to a Rule 10b5-1 trading plan adopted by the John W. Rowe 2004 GRAT on March 4, 2005 and a Rule 10b5-1 trading plan adopted by the John W. Rowe 2003 GRAT on March 4, 2005.

2. THIS IS FORM 1 OF 2. The number of individual Table I line entries making up the sale reported exceeds the EDGAR system's limitations and, therefore, this filing is being made in two parts.

Remarks:

	John W. Rowe by Judith H. Jones, Attorney-in-Fact	05/24/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.