Cigna Corp (CI) Expected to Earn FY2019 Earnings of $16.98 Per Share

Cigna Corp (NYSE:CI) – Research analysts at Svb Leerink upped their FY2019 earnings estimates for shares of Cigna in a report issued on Monday, April 15th. Svb Leerink analyst A. Gupte now anticipates that the health services provider will post earnings per share of $16.98 for the year, up from their prior forecast of $16.75.

Several other research firms also recently weighed in on CI. Zacks Investment Research downgraded Cigna from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Stephens began coverage on Cigna in a research report on Monday, January 14th. They set an “overweight” rating and a $251.00 target price on the stock. Goldman Sachs Group reiterated a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Morgan Stanley lowered their target price on Cigna from $304.00 to $299.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 5th. Finally, ValuEngine downgraded Cigna from a “hold” rating to a “sell” rating in a research report on Friday, December 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. Cigna currently has an average rating of “Buy” and an average target price of $231.28.

NYSE CI opened at $151.04 on Wednesday. The firm has a market cap of $62.26 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.81 and a beta of 0.71. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.96. Cigna has a fifty-two week low of $150.51 and a fifty-two week high of $226.60.

Cigna (NYSE:CI) last released its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.53 by ($0.07). The company had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $11.38 billion. Cigna had a net margin of 5.42% and a return on equity of 16.64%. Cigna’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share.

The firm also recently declared a special dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, March 11th were issued a dividend of $0.04 per share. The ex-dividend date was Friday, March 8th. Cigna’s dividend payout ratio is presently 0.28%.

In other Cigna news, Director William D. Zollars sold 272 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total transaction of $45,812.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Partridge sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $184.43, for a total value of $184,430.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,420 shares of company stock worth $1,886,122. Insiders own 0.80% of the company’s stock.

Several hedge funds have recently modified their holdings of CI. Mascoma Wealth Management LLC increased its stake in Cigna by 8.1% during the fourth quarter. Mascoma Wealth Management LLC now owns 709 shares of the health services provider’s stock worth $135,000 after acquiring an additional 53 shares during the last quarter. Howe & Rusling Inc. increased its stake in Cigna by 1.3% during the fourth quarter. Howe & Rusling Inc. now owns 4,585 shares of the health services provider’s stock worth $871,000 after acquiring an additional 61 shares during the last quarter. Accurate Investment Solutions Inc. boosted its position in shares of Cigna by 9.5% during the first quarter. Accurate Investment Solutions Inc. now owns 706 shares of the health services provider’s stock valued at $114,000 after buying an additional 61 shares during the period. CX Institutional boosted its position in shares of Cigna by 1.9% during the first quarter. CX Institutional now owns 3,523 shares of the health services provider’s stock valued at $567,000 after buying an additional 66 shares during the period. Finally, First Command Bank boosted its position in shares of Cigna by 11.8% during the fourth quarter. First Command Bank now owns 636 shares of the health services provider’s stock valued at $121,000 after buying an additional 67 shares during the period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

About Cigna

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

Further Reading: Preferred Stock

Earnings History and Estimates for Cigna (NYSE:CI)

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