CIGNA Co. (NYSE:CI) – Investment analysts at Piper Jaffray Companies cut their Q2 2018 earnings per share estimates for shares of CIGNA in a research note issued on Wednesday, June 20th. Piper Jaffray Companies analyst S. James now anticipates that the health services provider will post earnings of $3.17 per share for the quarter, down from their prior estimate of $3.50. Piper Jaffray Companies also issued estimates for CIGNA’s FY2018 earnings at $13.18 EPS, Q2 2019 earnings at $3.73 EPS, Q3 2019 earnings at $3.78 EPS and FY2019 earnings at $14.57 EPS.
CI has been the topic of several other research reports. Credit Suisse Group boosted their target price on shares of CIGNA from $215.00 to $218.00 and gave the stock an “outperform” rating in a research report on Friday, May 4th. Goldman Sachs Group raised shares of CIGNA from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $193.00 to $212.00 in a research report on Wednesday, June 6th. Zacks Investment Research downgraded shares of CIGNA from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Sanford C. Bernstein began coverage on shares of CIGNA in a research report on Tuesday, March 13th. They set a “market perform” rating and a $194.00 target price on the stock. Finally, Barclays began coverage on shares of CIGNA in a research report on Thursday, March 8th. They set an “overweight” rating and a $235.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CIGNA presently has an average rating of “Buy” and an average target price of $214.13.
Shares of CIGNA stock opened at $175.00 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.37. CIGNA has a 52-week low of $163.02 and a 52-week high of $227.13. The company has a market capitalization of $42.75 billion, a PE ratio of 16.73, a PEG ratio of 1.10 and a beta of 0.58.
CIGNA (NYSE:CI) last issued its quarterly earnings data on Thursday, May 3rd. The health services provider reported $4.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.72. CIGNA had a net margin of 5.99% and a return on equity of 20.90%. The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter in the previous year, the firm earned $2.77 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in CI. Financial Gravity Companies Inc. purchased a new stake in shares of CIGNA in the 4th quarter valued at $112,000. Synovus Financial Corp purchased a new stake in shares of CIGNA in the 1st quarter valued at $115,000. Signaturefd LLC acquired a new position in shares of CIGNA in the 1st quarter valued at $115,000. Elmwood Wealth Management Inc. acquired a new position in shares of CIGNA in the 1st quarter valued at $117,000. Finally, Aevitas Wealth Management Inc. acquired a new position in shares of CIGNA in the 4th quarter valued at $162,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director William D. Zollars sold 265 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $176.93, for a total value of $46,886.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Hoeltzel Mary T. Agoglia sold 1,000 shares of the company’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $176.19, for a total transaction of $176,190.00. Following the completion of the sale, the vice president now directly owns 4,635 shares in the company, valued at $816,640.65. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
CIGNA Company Profile
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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