Cigna's non-healthcare insurance businesses prevent it from developing an economic moat.
Cigna reported a solid third quarter despite the uncertainty that has permeated the entire health insurance market over the past year, and we are reiterating our $123 fair value estimate and no-moat rating for the managed-care firm. Despite the solid quarter, we continue to view the stock as overvalued, with current market expectations too high for the stock.In the quarter, Cigna’s ability to control its medical expenses has been impressive, as the firm’s medical loss ratio fell 140 basis poin...
Cigna is a holding company. The company is a global health services organization. Through its subsidiaries, the company provides a set of medical, dental, disability, life and accident insurance and related products and services. The majority of which are provides through employers and other groups such as governmental and non-governmental organizations, unions and associations. The company also provides commercial health and dental insurance, Medicare and Medicaid products and health, life and accident insurance coverages to individuals in the U.S. and selected international markets. The company's segments include: Global Health Care; Global Supplemental Benefits; Group Disability and Life; and Other Operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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