Cigna Corp (NYSE:CI) – Research analysts at Cantor Fitzgerald cut their FY2020 earnings per share estimates for Cigna in a research report issued to clients and investors on Monday, November 4th. Cantor Fitzgerald analyst S. Halper now anticipates that the health services provider will post earnings per share of $18.35 for the year, down from their previous forecast of $18.70.
Cigna (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $4.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.37 by $0.17. Cigna had a net margin of 3.30% and a return on equity of 12.79%. The company had revenue of $35.83 billion for the quarter, compared to the consensus estimate of $34.20 billion. During the same quarter in the previous year, the company earned $3.84 EPS. Cigna’s quarterly revenue was up 213.1% compared to the same quarter last year.
Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Cigna from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BMO Capital Markets upgraded shares of Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research note on Monday, September 30th. Raymond James boosted their price target on shares of Cigna from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Mizuho boosted their price target on shares of Cigna from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank set a $210.00 price target on shares of Cigna and gave the company a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $213.84.
Cigna stock opened at $183.13 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.76. Cigna has a 12-month low of $141.95 and a 12-month high of $226.60. The firm’s fifty day moving average is $162.47 and its 200 day moving average is $160.43. The company has a market capitalization of $67.03 billion, a PE ratio of 12.88, a PEG ratio of 0.91 and a beta of 0.72.
Several hedge funds and other institutional investors have recently bought and sold shares of CI. Empirical Finance LLC grew its stake in shares of Cigna by 0.9% in the 2nd quarter. Empirical Finance LLC now owns 9,077 shares of the health services provider’s stock worth $1,430,000 after acquiring an additional 77 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Cigna by 2.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 28,187 shares of the health services provider’s stock worth $4,441,000 after acquiring an additional 673 shares in the last quarter. Supplemental Annuity Collective Trust of NJ grew its stake in shares of Cigna by 20.0% in the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 6,000 shares of the health services provider’s stock worth $945,000 after acquiring an additional 1,000 shares in the last quarter. Zions Bancorporation N.A. bought a new stake in shares of Cigna in the 2nd quarter worth $137,000. Finally, Oliver Luxxe Assets LLC grew its stake in shares of Cigna by 2.3% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 18,218 shares of the health services provider’s stock worth $2,953,000 after acquiring an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.
In other Cigna news, CEO David Cordani purchased 32,509 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $155.17 per share, for a total transaction of $5,044,421.53. Insiders own 0.80% of the company’s stock.
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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