CIGNA Co. (NYSE:CI) – Equities researchers at Piper Jaffray Companies increased their FY2018 earnings per share (EPS) estimates for shares of CIGNA in a research note issued to investors on Thursday, November 1st. Piper Jaffray Companies analyst S. James now anticipates that the health services provider will earn $14.29 per share for the year, up from their prior forecast of $13.74. Piper Jaffray Companies also issued estimates for CIGNA’s Q2 2019 earnings at $4.17 EPS, Q3 2019 earnings at $3.96 EPS, FY2019 earnings at $15.24 EPS, Q1 2020 earnings at $4.66 EPS, Q2 2020 earnings at $4.45 EPS, Q3 2020 earnings at $4.25 EPS and FY2020 earnings at $16.37 EPS.
CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.39. The company had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.19 billion. CIGNA had a return on equity of 22.27% and a net margin of 5.82%. CIGNA’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.83 EPS.
Several other equities analysts have also recently weighed in on CI. BMO Capital Markets set a $230.00 price objective on CIGNA and gave the company a “hold” rating in a report on Friday. Citigroup raised their price objective on CIGNA from $243.00 to $249.00 and gave the company a “buy” rating in a report on Friday. Barclays raised their price objective on CIGNA from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $212.00 price objective for the company in a report on Tuesday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $224.00 price objective on shares of CIGNA in a report on Friday, August 3rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. CIGNA presently has an average rating of “Buy” and an average price target of $232.27.
Shares of NYSE CI opened at $213.13 on Friday. The stock has a market capitalization of $51.17 billion, a PE ratio of 20.38, a P/E/G ratio of 1.24 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.38 and a quick ratio of 0.38. CIGNA has a fifty-two week low of $163.02 and a fifty-two week high of $227.13.
A number of institutional investors have recently bought and sold shares of CI. Flagship Harbor Advisors LLC acquired a new stake in CIGNA during the second quarter worth approximately $102,000. Sun Life Financial INC lifted its position in CIGNA by 254.3% during the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after acquiring an additional 473 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in CIGNA during the third quarter worth approximately $116,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in CIGNA by 3,122.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock worth $120,000 after acquiring an additional 687 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in CIGNA by 98.7% during the second quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock worth $133,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.
In related news, Director William D. Zollars sold 238 shares of CIGNA stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $193.70, for a total transaction of $46,100.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.
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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