Cigna (NYSE:CI) Releases Earnings Results, Beats Expectations By $0.60 EPS

Cigna (NYSE:CIGet Rating) posted its quarterly earnings data on Thursday. The health services provider reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.60, Briefing.com reports. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The company had revenue of $45.48 billion for the quarter, compared to analysts’ expectations of $44.34 billion. During the same period in the previous year, the firm posted $5.24 EPS. Cigna’s revenue was up 5.4% compared to the same quarter last year. Cigna updated its FY 2022 guidance to $22.90- EPS.

Cigna Stock Up 0.6 %

NYSE:CI opened at $281.77 on Friday. Cigna has a 1 year low of $191.74 and a 1 year high of $284.46. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The stock has a market cap of $89.40 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.10 and a beta of 0.73. The stock has a 50-day moving average price of $265.57 and a two-hundred day moving average price of $251.60.

Cigna Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.59%. Cigna’s dividend payout ratio (DPR) is presently 26.71%.

Insider Activity

In related news, CEO David Cordani sold 45,261 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $270.42, for a total transaction of $12,239,479.62. Following the sale, the chief executive officer now owns 160,499 shares in the company, valued at $43,402,139.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Everett Neville sold 902 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $273.98, for a total transaction of $247,129.96. Following the sale, the executive vice president now owns 6,764 shares of the company’s stock, valued at $1,853,200.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 45,261 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $270.42, for a total value of $12,239,479.62. Following the sale, the chief executive officer now owns 160,499 shares of the company’s stock, valued at $43,402,139.58. The disclosure for this sale can be found here. Insiders have sold a total of 76,642 shares of company stock worth $20,869,065 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Cigna

A number of large investors have recently bought and sold shares of CI. Fairfield Bush & CO. acquired a new position in Cigna during the 1st quarter valued at about $40,000. Worth Asset Management LLC bought a new stake in shares of Cigna in the 1st quarter worth approximately $92,000. Fort Point Capital Partners LLC bought a new stake in shares of Cigna in the 1st quarter worth approximately $201,000. Axiom Financial Strategies LLC purchased a new position in Cigna in the 1st quarter valued at approximately $212,000. Finally, Wsfs Capital Management LLC purchased a new position in Cigna in the 1st quarter valued at approximately $236,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CI. Barclays lifted their price target on shares of Cigna from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, May 23rd. Oppenheimer restated an “outperform” rating and issued a $310.00 price target on shares of Cigna in a research note on Tuesday, June 7th. Morgan Stanley upgraded shares of Cigna from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $283.00 to $296.00 in a research note on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cigna from $236.00 to $284.00 in a research note on Thursday, June 9th. Finally, Stephens upped their price objective on shares of Cigna from $265.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.72.

About Cigna

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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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Earnings History for Cigna (NYSE:CI)

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