Cigna (NYSE:CI – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $22.90- for the period, compared to the consensus estimate of $22.99. The company issued revenue guidance of -.
Cigna Trading Down 2.1 %
Shares of Cigna stock traded down $5.86 during midday trading on Friday, reaching $277.04. The company had a trading volume of 20,254 shares, compared to its average volume of 1,964,028. The firm has a market cap of $84.53 billion, a PE ratio of 16.87, a P/E/G ratio of 1.11 and a beta of 0.71. Cigna has a fifty-two week low of $191.74 and a fifty-two week high of $296.29. The stock has a fifty day moving average price of $283.36 and a 200 day moving average price of $265.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.72.
Cigna (NYSE:CI – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.60. The business had revenue of $45.48 billion for the quarter, compared to analysts’ expectations of $44.34 billion. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.24 EPS. On average, equities analysts anticipate that Cigna will post 22.94 earnings per share for the current year.
Cigna Dividend Announcement
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Cigna from $296.00 to $318.00 and gave the company an overweight rating in a report on Wednesday, August 17th. Loop Capital initiated coverage on shares of Cigna in a research report on Thursday, June 16th. They issued a hold rating and a $270.00 price target on the stock. Sanford C. Bernstein lifted their target price on shares of Cigna from $258.00 to $301.00 and gave the stock a mkt perform rating in a research report on Friday, May 27th. Mizuho boosted their target price on shares of Cigna from $291.00 to $330.00 and gave the stock a buy rating in a research report on Friday, August 5th. Finally, The Goldman Sachs Group upped their target price on shares of Cigna from $273.00 to $311.00 and gave the company a neutral rating in a research report on Tuesday, August 9th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cigna has an average rating of Moderate Buy and an average target price of $305.58.
Insider Buying and Selling
In related news, insider Jason D. Sadler sold 3,458 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total transaction of $933,660.00. Following the completion of the sale, the insider now owns 31,749 shares of the company’s stock, valued at $8,572,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 owns 8,498 shares in the company, valued at approximately $2,437,991.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jason D. Sadler sold 3,458 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $270.00, for a total value of $933,660.00. Following the completion of the sale, the insider now owns 31,749 shares of the company’s stock, valued at approximately $8,572,230. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,158 shares of company stock worth $11,581,956. Insiders own 0.80% of the company’s stock.
Institutional Investors Weigh In On Cigna
Several hedge funds have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in Cigna during the 1st quarter worth $40,000. Worth Asset Management LLC purchased a new stake in Cigna during the 1st quarter worth approximately $92,000. Fort Point Capital Partners LLC acquired a new position in Cigna in the first quarter valued at approximately $201,000. Axiom Financial Strategies LLC acquired a new position in Cigna during the first quarter worth $212,000. Finally, Wsfs Capital Management LLC purchased a new stake in shares of Cigna during the first quarter worth $236,000. 89.54% of the stock is owned by institutional investors.
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.
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