Cigna (NYSE:CI – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $22.90- for the period, compared to the consensus EPS estimate of $22.99. The company issued revenue guidance of -.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CI shares. Wells Fargo & Company boosted their price objective on Cigna from $306.00 to $319.00 and gave the company an overweight rating in a research note on Monday, August 8th. Mizuho upped 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. The Goldman Sachs Group lifted their price target on Cigna from $273.00 to $311.00 and gave the company a neutral rating in a research report on Tuesday, August 9th. Oppenheimer boosted their target price on Cigna from $310.00 to $320.00 and gave the stock an outperform rating in a research report on Monday, August 8th. Finally, SVB Leerink lifted their price target on shares of Cigna from $276.00 to $305.00 and gave the stock a market perform rating in a research note on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cigna currently has a consensus rating of Moderate Buy and an average target price of $305.58.
Cigna Stock Performance
Shares of CI stock opened at $287.22 on Tuesday. The business has a 50 day simple moving average of $284.72 and a 200 day simple moving average of $267.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $87.64 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Cigna has a 12-month low of $191.74 and a 12-month high of $296.29.
Cigna (NYSE:CI – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The health services provider reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $5.44 by $0.78. Cigna had a net margin of 3.05% and a return on equity of 15.91%. The company had revenue of $45.48 billion during the quarter, compared to the consensus estimate of $44.34 billion. During the same period last year, the firm earned $5.24 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna will post 22.94 EPS for the current year.
Cigna Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th were paid a $1.12 dividend. The ex-dividend date was Tuesday, September 6th. This represents a $4.48 dividend on an annualized basis and a yield of 1.56%. Cigna’s payout ratio is 26.71%.
Insider Buying and Selling at Cigna
In other Cigna news, EVP Everett Neville sold 5,094 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $275.00, for a total value of $1,400,850.00. Following the transaction, the executive vice president now directly owns 7,200 shares of the company’s stock, valued at approximately $1,980,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Everett Neville sold 5,094 shares of Cigna stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $275.00, for a total value of $1,400,850.00. Following the completion of the sale, the executive vice president now owns 7,200 shares in the company, valued at approximately $1,980,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of Cigna stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $286.89, for a total transaction of $2,020,853.16. Following the completion of the sale, the senior vice president now directly owns 8,498 shares in the company, valued at approximately $2,437,991.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,700 shares of company stock valued at $10,648,296. 0.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Cigna
A number of institutional investors have recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new stake in Cigna during the first quarter valued at approximately $40,000. Worth Asset Management LLC bought a new stake in shares of Cigna in the first quarter worth about $92,000. Fort Point Capital Partners LLC purchased a new position in shares of Cigna in the first quarter valued at $201,000. Axiom Financial Strategies LLC bought a new stake in shares of Cigna in the 1st quarter valued at approximately $212,000. Finally, Wsfs Capital Management LLC bought a new stake in shares of Cigna in the 1st quarter worth about $236,000. Institutional investors own 89.54% of the company’s stock.
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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