CIGNA Co. (NYSE:CI) – Equities researchers at Jefferies Group upped their Q1 2018 earnings estimates for CIGNA in a report released on Friday. Jefferies Group analyst D. Windley now expects that the health services provider will earn $3.50 per share for the quarter, up from their previous forecast of $3.22. Jefferies Group has a “Buy” rating and a $231.00 price objective on the stock. Jefferies Group also issued estimates for CIGNA’s Q2 2018 earnings at $3.51 EPS, Q3 2018 earnings at $3.48 EPS and Q4 2018 earnings at $2.65 EPS.
CIGNA (NYSE:CI) last issued its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.47. CIGNA had a net margin of 5.74% and a return on equity of 18.85%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.17 billion. During the same period last year, the company posted $1.94 EPS. The business’s revenue was up 5.1% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $214.00 price objective for the company in a research report on Monday, October 9th. Citigroup boosted their price objective on shares of CIGNA from $198.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. ValuEngine raised shares of CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BMO Capital Markets started coverage on shares of CIGNA in a research report on Monday, October 16th. They issued a “market perform” rating and a $210.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on shares of CIGNA in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective for the company. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. CIGNA has an average rating of “Buy” and a consensus target price of $205.18.
CIGNA (NYSE CI) traded up $2.50 during mid-day trading on Monday, hitting $213.39. 1,151,200 shares of the company were exchanged, compared to its average volume of 1,110,533. The stock has a market cap of $53,160.00, a PE ratio of 23.37, a PEG ratio of 1.43 and a beta of 0.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. CIGNA has a 52-week low of $133.52 and a 52-week high of $213.73.
In other CIGNA news, CAO Mary T. Hoeltzel sold 575 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $197.03, for a total transaction of $113,292.25. Following the transaction, the chief accounting officer now owns 2,499 shares in the company, valued at approximately $492,377.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Zollars sold 212 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $205.68, for a total transaction of $43,604.16. Following the transaction, the director now owns 13,500 shares in the company, valued at approximately $2,776,680. The disclosure for this sale can be found here. Insiders have sold a total of 63,185 shares of company stock worth $12,789,459 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CI. Vanguard Group Inc. boosted its holdings in CIGNA by 2.5% during the second quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock worth $2,867,514,000 after buying an additional 424,469 shares in the last quarter. FMR LLC raised its position in CIGNA by 6.7% during the second quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after acquiring an additional 432,978 shares during the period. Ameriprise Financial Inc. raised its position in CIGNA by 4.8% during the third quarter. Ameriprise Financial Inc. now owns 3,776,414 shares of the health services provider’s stock worth $705,889,000 after acquiring an additional 171,712 shares during the period. FIL Ltd raised its position in CIGNA by 5.2% during the second quarter. FIL Ltd now owns 2,311,938 shares of the health services provider’s stock worth $386,996,000 after acquiring an additional 113,531 shares during the period. Finally, Investec Asset Management LTD raised its position in CIGNA by 35.4% during the third quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock worth $345,764,000 after acquiring an additional 483,904 shares during the period. 87.75% of the stock is currently owned by institutional investors and hedge funds.
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CIGNA Company Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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