Cigna (NYSE:CI – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $22.90- for the period, compared to the consensus estimate of $22.72. The company issued revenue guidance of $178.00B-, compared to the consensus revenue estimate of $178.59 billion.
Cigna Trading Up 0.6 %
Shares of NYSE CI traded up $1.67 during midday trading on Friday, hitting $281.77. The stock had a trading volume of 2,039,836 shares, compared to its average volume of 1,937,033. The company has a market capitalization of $89.40 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.10 and a beta of 0.73. Cigna has a 1-year low of $191.74 and a 1-year high of $284.46. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $265.57 and a 200 day moving average price of $251.60.
Cigna (NYSE:CI – Get Rating) last announced its earnings results on Thursday, August 4th. The health services provider reported $6.22 EPS for the quarter, beating the consensus estimate of $5.62 by $0.60. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The business had revenue of $45.48 billion for the quarter, compared to the consensus estimate of $44.34 billion. During the same period last year, the business posted $5.24 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Cigna will post 22.9 earnings per share for the current year.
Cigna Dividend Announcement
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on CI shares. Bank of America raised Cigna from an underperform rating to a neutral rating and upped their price target for the company from $265.00 to $300.00 in a research report on Thursday, May 26th. Stephens increased their target price on Cigna from $265.00 to $290.00 and gave the stock an overweight rating in a report on Wednesday, April 20th. JPMorgan Chase & Co. raised Cigna from a neutral rating to an overweight rating and increased their target price for the stock from $248.00 to $304.00 in a report on Monday, May 16th. Mizuho increased their target price on Cigna from $291.00 to $330.00 and gave the stock a buy rating in a report on Friday. Finally, Cowen raised Cigna from a market perform rating to an outperform rating and increased their target price for the stock from $242.00 to $329.00 in a report on Monday, May 9th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cigna presently has an average rating of Moderate Buy and a consensus target price of $292.72.
Insider Buying and Selling at Cigna
In other news, EVP Nicole S. Jones sold 5,901 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $270.00, for a total transaction of $1,593,270.00. Following the sale, the executive vice president now owns 36,908 shares in the company, valued at approximately $9,965,160. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jason D. Sadler sold 3,458 shares of Cigna stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total transaction of $933,660.00. Following the sale, the insider now owns 31,749 shares of the company’s stock, valued at approximately $8,572,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicole S. Jones sold 5,901 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $270.00, for a total transaction of $1,593,270.00. Following the sale, the executive vice president now directly owns 36,908 shares in the company, valued at approximately $9,965,160. The disclosure for this sale can be found here. Insiders sold a total of 76,642 shares of company stock valued at $20,869,065 in the last three months. Company insiders own 0.80% of the company’s stock.
Institutional Trading of Cigna
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new position in Cigna during the first quarter valued at $40,000. Worth Asset Management LLC bought a new stake in shares of Cigna in the 1st quarter valued at about $92,000. Fort Point Capital Partners LLC bought a new stake in shares of Cigna in the 1st quarter valued at about $201,000. Axiom Financial Strategies LLC acquired a new stake in Cigna in the 1st quarter worth approximately $212,000. Finally, Wsfs Capital Management LLC acquired a new stake in Cigna in the 1st quarter worth approximately $236,000. 88.57% of the stock is owned by hedge funds and other institutional investors.
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.
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