Cigna (NYSE:CI – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $22.90- for the period, compared to the consensus earnings per share estimate of $22.99. The company issued revenue guidance of -.
Analyst Ratings Changes
CI has been the topic of several research analyst reports. Credit Suisse Group boosted their target price on Cigna from $315.00 to $329.00 and gave the stock an outperform rating in a research note on Monday, August 8th. Oppenheimer boosted their target price on Cigna from $310.00 to $320.00 and gave the stock an outperform rating in a research note on Monday, August 8th. Mizuho boosted their target price on Cigna from $291.00 to $330.00 and gave the stock a buy rating in a research note on Friday, August 5th. SVB Leerink boosted their price target on Cigna from $276.00 to $305.00 and gave the company a market perform rating in a research note on Wednesday, August 10th. Finally, UBS Group boosted their price target on Cigna from $310.00 to $330.00 and gave the company a buy rating in a research note on Monday, August 8th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $305.58.
Cigna Price Performance
Shares of Cigna stock opened at $285.73 on Tuesday. The business has a 50 day simple moving average of $286.38 and a two-hundred day simple moving average of $269.54. Cigna has a 12 month low of $191.74 and a 12 month high of $296.29. The stock has a market capitalization of $87.18 billion, a P/E ratio of 17.04, a PEG ratio of 1.13 and a beta of 0.68. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.72.
Cigna (NYSE:CI – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.44 by $0.78. The business had revenue of $45.48 billion during the quarter, compared to analyst estimates of $44.34 billion. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.24 earnings per share. As a group, analysts predict that Cigna will post 22.97 EPS for the current fiscal year.
Cigna Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th were given a $1.12 dividend. The ex-dividend date was Tuesday, September 6th. This represents a $4.48 annualized dividend and a yield of 1.57%. Cigna’s payout ratio is 26.71%.
Insider Buying and Selling
In related news, EVP Paul A. Sanford sold 374 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $285.00, for a total value of $106,590.00. Following the completion of the transaction, the executive vice president now directly owns 9,121 shares in the company, valued at $2,599,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Paul A. Sanford sold 374 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $285.00, for a total transaction of $106,590.00. Following the completion of the transaction, the executive vice president now directly owns 9,121 shares in the company, valued at $2,599,485. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Everett Neville sold 902 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $273.98, for a total value of $247,129.96. Following the transaction, the executive vice president now owns 6,764 shares of the company’s stock, valued at $1,853,200.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,580 shares of company stock worth $4,792,771. Company insiders own 0.80% of the company’s stock.
Institutional Trading of Cigna
Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Cigna by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,808,135 shares of the health services provider’s stock worth $433,248,000 after purchasing an additional 28,643 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cigna by 33.6% during the first quarter. The Manufacturers Life Insurance Company now owns 339,852 shares of the health services provider’s stock worth $81,998,000 after purchasing an additional 85,507 shares during the last quarter. Bellevue Group AG grew its holdings in shares of Cigna by 5.7% during the first quarter. Bellevue Group AG now owns 259,146 shares of the health services provider’s stock worth $62,094,000 after purchasing an additional 13,972 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Cigna during the first quarter worth about $44,063,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Cigna by 27.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 179,292 shares of the health services provider’s stock worth $42,960,000 after buying an additional 38,800 shares during the last quarter. 89.54% of the stock is currently owned by institutional investors and hedge funds.
Cigna Company Profile
Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.
See Also
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