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Cigna Increasing Membership and Managing Medical Cost With Earnings Report

 (Image source: cigna corp)

The health service company CIGNA Corporation (NYSE:CI) reported stellar third quarter earnings. The insurer earned profits of $553 million excluding certain items, or $1.89 per share, which beat estimates by 26 cents.  In addition, revenue increased $80 million in the quarter. According to Cigna the strong earnings performance was fueled by increase membership in their insurance pulls and better medical cost management. Year-to-date the stock has been on a tear, up nearly 40 percent. The stock is trading above 4 percent in the opening largely on the earnings release.  In terms of third quarter earnings, Cigna’s performance is far better than the rest of the other healthcare providers.