Cigna Corp (NYSE:CI) – Research analysts at Svb Leerink increased their FY2019 earnings per share estimates for shares of Cigna in a report issued on Monday, April 15th. Svb Leerink analyst A. Gupte now forecasts that the health services provider will earn $16.98 per share for the year, up from their prior forecast of $16.75.
Several other brokerages have also issued reports on CI. Zacks Investment Research lowered 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 for the company. Goldman Sachs Group restated a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Morgan Stanley dropped their target price on Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a research report on Tuesday, February 5th. Finally, ValuEngine lowered Cigna from a “hold” rating to a “sell” rating in a research report on Friday, December 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Cigna currently has an average rating of “Buy” and a consensus price target of $231.28.
Cigna (NYSE:CI) last announced its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The business had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $11.38 billion. During the same quarter last year, the firm earned $1.94 EPS. The firm’s quarterly revenue was up 29.3% on a year-over-year basis.
The company also recently declared a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s payout ratio is 0.28%.
In other Cigna news, Director William D. Zollars sold 272 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko bought 2,000 shares of the stock in a transaction on Monday, March 11th. The shares were bought at an average price of $163.40 per share, with a total value of $326,800.00. The disclosure for this purchase can be found here. Insiders sold 10,420 shares of company stock valued at $1,886,122 in the last quarter. 0.80% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CI. 1 North Wealth Services LLC acquired a new position in shares of Cigna during the fourth quarter worth $25,000. Clarfeld Financial Advisors LLC acquired a new position in shares of Cigna during the fourth quarter worth $25,000. Private Ocean LLC acquired a new position in shares of Cigna during the fourth quarter worth $26,000. Delta Asset Management LLC TN acquired a new position in shares of Cigna in the 4th quarter valued at $28,000. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Cigna in the 4th quarter valued at $30,000. Institutional investors own 88.31% of the company’s stock.
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.
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