Cigna Corporation (NYSE:CI) – Stock analysts at Leerink Swann raised their Q3 2017 earnings per share estimates for Cigna Corporation in a research note issued on Thursday. Leerink Swann analyst A. Gupte now anticipates that the health services provider will post earnings per share of $2.42 for the quarter, up from their previous estimate of $2.38. Leerink Swann also issued estimates for Cigna Corporation’s Q4 2017 earnings at $2.17 EPS.
Several other brokerages also recently commented on CI. Bank of America Corporation increased their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, June 23rd. Wells Fargo & Company reissued a “market perform” rating and issued a $174.00 price objective (up previously from $163.00) on shares of Cigna Corporation in a research note on Monday, June 19th. Royal Bank Of Canada increased their price objective on shares of Cigna Corporation from $177.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $183.00 price objective on shares of Cigna Corporation in a research note on Thursday, June 8th. Finally, Oppenheimer Holdings, Inc. increased their price objective on shares of Cigna Corporation from $174.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $174.44.
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Cigna Corporation (CI) opened at 167.05 on Monday. The stock has a 50 day moving average of $163.21 and a 200-day moving average of $150.70. The company has a market cap of $42.77 billion, a PE ratio of 22.30 and a beta of 0.44. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $170.56.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The firm had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $10.11 billion. During the same quarter last year, the company earned $2.46 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.
In other Cigna Corporation news, CEO David Cordani sold 153,168 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the sale, the chief executive officer now directly owns 421,162 shares in the company, valued at $71,681,772.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mary T. Hoeltzel sold 500 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $166.70, for a total transaction of $83,350.00. Following the completion of the sale, the vice president now owns 2,449 shares of the company’s stock, valued at $408,248.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,414 shares of company stock valued at $33,503,032. 1.30% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new stake in Cigna Corporation during the first quarter worth approximately $102,000. Baystate Wealth Management LLC boosted its stake in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock worth $116,000 after buying an additional 628 shares during the last quarter. Founders Capital Management bought a new stake in Cigna Corporation during the first quarter worth approximately $117,000. Mckinley Capital Management LLC Delaware bought a new stake in Cigna Corporation during the first quarter worth approximately $122,000. Finally, Guardian Life Insurance Co. of America boosted its stake in Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after buying an additional 7 shares during the last quarter. Institutional investors and hedge funds own 86.89% of the company’s stock.
About Cigna Corporation
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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