Cigna shares drop more than other health insurers

INDIANAPOLIS - Shares of Cigna Corp. fell further than those of other managed care companies Friday, as investors worried about investment exposure to a shaky stock market. The Philadelphia-based insurer saw its stock price fall 12 percent to $21.82 in afternoon trading. Other companies in a sector that includes WellPoint Inc., Humana Inc. and Aetna Inc. saw their shares fall anywhere from 5 percent to 9 percent. Most stocks fell during a turbulent day on Wall Street. The Dow Jones industrial average was down nearly 500 points Friday afternoon. Investment concerns may have driven Cigna shares down more than those of its peers, Morningstar analyst Matthew Coffina said. Cigna has a larger life and disability... [read full story]