Cigna Corp. (CI) Expected to Earn Q4 2016 Earnings of $1.83 Per Share
Cigna Corp. (NYSE:CI) – Analysts at Leerink Swann cut their Q4 2016 EPS estimates for shares of Cigna Corp. in a research report issued on Monday. Leerink Swann analyst A. Gupte now forecasts that the brokerage will post earnings per share of $1.83 for the quarter, down from their previous forecast of $1.84. Leerink Swann has a “Buy” rating and a $155.00 price target on the stock.
Several other research firms also recently issued reports on CI. Wolfe Research initiated coverage on Cigna Corp. in a research note on Tuesday, June 28th. They set an “outperform” rating and a $172.00 price target for the company. Evercore ISI started coverage on Cigna Corp. in a research note on Thursday, September 22nd. They set a “hold” rating and a $134.00 target price for the company. Jefferies Group restated a “buy” rating and set a $153.00 target price on shares of Cigna Corp. in a research note on Sunday. Zacks Investment Research upgraded Cigna Corp. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Tuesday, July 5th. Finally, William Blair restated a “buy” rating on shares of Cigna Corp. in a research note on Wednesday, August 31st. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $157.65.
Shares of Cigna Corp. (NYSE:CI) traded up 4.26% on Tuesday, reaching $123.69. The company had a trading volume of 760,260 shares. Cigna Corp. has a 12 month low of $116.30 and a 12 month high of $148.99. The company’s 50-day moving average is $128.03 and its 200 day moving average is $130.78. The firm has a market capitalization of $31.74 billion, a PE ratio of 16.04 and a beta of 0.43.
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Cigna Corp. (NYSE:CI) last issued its quarterly earnings data on Friday, July 29th. The company reported $1.98 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.41. The company had revenue of $9.89 billion for the quarter, compared to the consensus estimate of $9.98 billion. Cigna Corp. had a return on equity of 17.60% and a net margin of 5.16%. Cigna Corp.’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.55 earnings per share.
A number of large investors have recently added to or reduced their stakes in the stock. First Financial Corp IN boosted its stake in Cigna Corp. by 11.0% in the third quarter. First Financial Corp IN now owns 1,316 shares of the company’s stock worth $171,000 after buying an additional 130 shares in the last quarter. Pennsylvania Trust Co boosted its stake in Cigna Corp. by 0.4% in the third quarter. Pennsylvania Trust Co now owns 9,556 shares of the company’s stock worth $1,245,000 after buying an additional 39 shares in the last quarter. National Pension Service boosted its stake in Cigna Corp. by 8.3% in the third quarter. National Pension Service now owns 183,955 shares of the company’s stock worth $23,973,000 after buying an additional 14,020 shares in the last quarter. Private Trust Co. NA boosted its stake in Cigna Corp. by 0.7% in the third quarter. Private Trust Co. NA now owns 1,702 shares of the company’s stock worth $221,000 after buying an additional 11 shares in the last quarter. Finally, AT Bancorp acquired a new stake in Cigna Corp. during the third quarter worth $1,222,000. 85.25% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Mary T. Hoeltzel sold 500 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $132.28, for a total transaction of $66,140.00. Following the completion of the sale, the vice president now directly owns 4,017 shares of the company’s stock, valued at approximately $531,368.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
Cigna Corp. Company Profile
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, Other Operations and Corporate.
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