Cigna Says It Expects Lower Earnings

Cigna Corp. announced that its second-quarter profits are likely to be lower than the $1.25 per share that many investment analysts had been expecting.

The insurance company made its announcement in response to an inquiry from the New York Stock Exchange about Tuesday’s drop in its stock price.

Cigna stock fell $1.125 Tuesday to close at $55.125. The stock fell another 87.5 cents Wednesday.

Earnings of $1.25 per share would be 34% below the second quarter of 1991, when the company earned $1.88 per share.

The company plans to release full second-quarter results on Aug. 3.