CIGNA Co. (NYSE:CI) – Equities researchers at SunTrust Banks raised their FY2018 earnings per share (EPS) estimates for CIGNA in a note issued to investors on Tuesday, November 6th. SunTrust Banks analyst D. Macdonald now anticipates that the health services provider will earn $14.36 per share for the year, up from their previous estimate of $13.82. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for CIGNA’s Q4 2018 earnings at $2.52 EPS, Q1 2019 earnings at $4.37 EPS, Q2 2019 earnings at $4.22 EPS, Q3 2019 earnings at $4.10 EPS, Q4 2019 earnings at $2.91 EPS and FY2019 earnings at $15.60 EPS.
CIGNA (NYSE:CI) last released its earnings results on Thursday, November 1st. The health services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.45 by $0.39. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The business had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the firm posted $2.83 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut CIGNA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine raised CIGNA from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Leerink Swann raised their target price on CIGNA from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. Cantor Fitzgerald began coverage on CIGNA in a research note on Wednesday, September 26th. They set an “overweight” rating and a $245.00 target price for the company. Finally, Cowen began coverage on CIGNA in a report on Monday, September 17th. They issued an “outperform” rating and a $240.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $233.14.
NYSE CI opened at $217.65 on Thursday. CIGNA has a one year low of $163.02 and a one year high of $227.13. The company has a market cap of $52.17 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.21 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.61.
In other news, Director William D. Zollars sold 238 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $193.70, for a total value of $46,100.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason D. Sadler sold 21,189 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $212.99, for a total value of $4,513,045.11. Following the completion of the transaction, the insider now owns 41,966 shares in the company, valued at approximately $8,938,338.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,252 shares of company stock worth $5,164,402. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of CI. Veritas Asset Management LLP lifted its holdings in shares of CIGNA by 81.1% in the second quarter. Veritas Asset Management LLP now owns 4,422,200 shares of the health services provider’s stock valued at $751,553,000 after purchasing an additional 1,979,877 shares in the last quarter. Ruffer LLP bought a new position in shares of CIGNA in the third quarter valued at approximately $302,517,000. FMR LLC lifted its holdings in shares of CIGNA by 18.6% in the third quarter. FMR LLC now owns 8,970,440 shares of the health services provider’s stock valued at $1,868,093,000 after purchasing an additional 1,409,335 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of CIGNA by 533.9% in the third quarter. DNB Asset Management AS now owns 578,488 shares of the health services provider’s stock valued at $120,470,000 after purchasing an additional 487,229 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of CIGNA by 150.1% in the second quarter. Renaissance Technologies LLC now owns 788,000 shares of the health services provider’s stock valued at $133,921,000 after purchasing an additional 472,900 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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