Wall Street analysts expect CIGNA Co. (NYSE:CI) to post $2.52 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for CIGNA’s earnings, with the highest EPS estimate coming in at $2.57 and the lowest estimate coming in at $2.44. CIGNA reported earnings of $1.94 per share during the same quarter last year, which would suggest a positive year over year growth rate of 29.9%. The business is scheduled to issue its next earnings results on Thursday, February 7th.
On average, analysts expect that CIGNA will report full year earnings of $14.23 per share for the current financial year, with EPS estimates ranging from $13.83 to $14.41. For the next financial year, analysts forecast that the firm will report earnings of $15.96 per share, with EPS estimates ranging from $15.20 to $21.59. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow CIGNA.
CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.39. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The business had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the previous year, the firm earned $2.83 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year.
A number of equities research analysts recently commented on the company. BMO Capital Markets lifted their price objective on CIGNA from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, November 2nd. Citigroup lifted their price objective on CIGNA from $243.00 to $249.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $212.00 price objective for the company in a research note on Tuesday, August 7th. Barclays lifted their price objective on CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $224.00 price objective on shares of CIGNA in a research note on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $233.14.
Shares of CIGNA stock traded down $2.84 during trading on Friday, reaching $217.65. 1,794,761 shares of the company were exchanged, compared to its average volume of 2,445,114. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.61. CIGNA has a twelve month low of $163.02 and a twelve month high of $227.13. The stock has a market cap of $53.70 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.24 and a beta of 0.58.
In other news, insider Jason D. Sadler sold 21,189 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $212.99, for a total transaction of $4,513,045.11. Following the completion of the transaction, the insider now directly owns 41,966 shares of the company’s stock, valued at $8,938,338.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael W. Triplett sold 2,825 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $214.25, for a total value of $605,256.25. Following the transaction, the insider now directly owns 23,871 shares of the company’s stock, valued at $5,114,361.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,252 shares of company stock valued at $5,164,402. Insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA acquired a new position in shares of CIGNA during the third quarter worth about $116,000. Flagship Harbor Advisors LLC acquired a new position in shares of CIGNA during the second quarter worth about $102,000. Sun Life Financial INC boosted its position in shares of 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 buying an additional 473 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of 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 buying an additional 687 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of 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 buying an additional 390 shares during the period. 89.11% of the stock is owned by institutional investors.
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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