Stocks quoted in this article:
The S&P Insurance Index (IUX - 689.11) is moving down in today's action, posting a 1.5 percent, or 10.5-point, loss thus far. The index has dramatically outperformed the S&P 500 Index (.SPX - 1449.36) during the past month, posting returns of 11.599 versus a negative 2.386-percent return for the SPX. However, today's earnings report from Cigna (CI - 97-5/8) is weighing on the index, despite some seemingly positive comments from the company's chief financial officer. The security is currently lower by more than three percent. CI earned $279 million, or $1.71 per share, a 40-percent increase from the $251 million, or $1.22 per share, in the year-ago period. This was solidly ahead of First Call
earnings estimates of $1.56 per share. Of the IUX components, only one is higher on the day. Along with from CI, the stocks contributing to today's move are Safeco (SAFC - 22-1/2), down 2.45 percent; Allstate (ALL - 26-15/16), down 2.05 percent; Loews (LTR - 62), down 1.78 percent; and American International Group (AIG - 86-7/16), down 1.78 percent.