Cigna Corp. Forecasted to Earn Q3 2016 Earnings of $1.87 Per Share (CI)
Cigna Corp. (NYSE:CI) – Stock analysts at Leerink Swann lifted their Q3 2016 earnings per share estimates for shares of Cigna Corp. in a research note issued on Monday. Leerink Swann analyst A. Gupte now forecasts that the brokerage will earn $1.87 per share for the quarter, up from their prior estimate of $1.85. Leerink Swann has a “Buy” rating and a $155.00 price target on the stock.
Cigna Corp. (NYSE:CI) last announced its earnings results on Friday, July 29th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by $0.41. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. The business had revenue of $9.89 billion for the quarter, compared to analysts’ expectations of $9.98 billion. During the same quarter last year, the firm earned $2.55 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis.
CI has been the topic of a number of other reports. Goldman Sachs Group Inc. raised shares of Cigna Corp. from a “buy” rating to a “conviction-buy” rating and decreased their price target for the company from $170.00 to $165.00 in a research note on Friday, July 22nd. Zacks Investment Research lowered shares of Cigna Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $149.00 price target on shares of Cigna Corp. in a research note on Friday, July 8th. Citigroup Inc. decreased their price target on shares of Cigna Corp. from $174.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Finally, Jefferies Group decreased their price target on shares of Cigna Corp. from $160.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $157.65.
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Shares of Cigna Corp. (NYSE:CI) traded down 0.43% on Wednesday, hitting $123.12. The company’s stock had a trading volume of 587,867 shares. The stock has a 50-day moving average price of $127.91 and a 200 day moving average price of $130.73. The firm has a market cap of $31.59 billion, a price-to-earnings ratio of 15.97 and a beta of 0.43. Cigna Corp. has a one year low of $116.30 and a one year high of $148.99.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its stake in Cigna Corp. by 166.7% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $102,000 after buying an additional 500 shares during the period. Invictus RG increased its stake in Cigna Corp. by 1,056.8% in the second quarter. Invictus RG now owns 1,018 shares of the company’s stock valued at $130,000 after buying an additional 930 shares during the period. M&R Capital Management Inc. bought a new stake in Cigna Corp. during the second quarter valued at $153,000. First Financial Corp IN increased 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 valued at $171,000 after buying an additional 130 shares during the period. Finally, Johnson Financial Group Inc. increased its stake in Cigna Corp. by 996.9% in the second quarter. Johnson Financial Group Inc. now owns 1,426 shares of the company’s stock valued at $183,000 after buying an additional 1,296 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.
In related news, VP Mary T. Hoeltzel sold 500 shares of Cigna Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $132.28, for a total value of $66,140.00. Following the completion of the sale, the vice president now owns 4,017 shares in the company, valued at approximately $531,368.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
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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