Cigna Corporation (CI) Announces Quarterly Earnings Results
Cigna Corporation (NYSE:CI) released its quarterly earnings results on Thursday. The health services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.47, Bloomberg Earnings reports. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.17 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. Cigna Corporation’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 earnings per share. Cigna Corporation updated its FY17 guidance to $10.20-$10.40 EPS.
A number of equities research analysts have recently commented on CI shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $191.00 price objective on shares of Cigna Corporation in a research report on Sunday, September 17th. ValuEngine downgraded Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $193.00 price objective (up previously from $190.00) on shares of Cigna Corporation in a research report on Friday, July 14th. Zacks Investment Research raised Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 price objective for the company in a research report on Monday, October 9th. Finally, Deutsche Bank AG lifted their price objective on Cigna Corporation from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $193.44.
In other Cigna Corporation news, Chairman Isaiah Harris, Jr. sold 247 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total transaction of $45,761.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Zollars sold 1,232 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The disclosure for this sale can be found here. Insiders have sold 45,696 shares of company stock valued at $8,070,481 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
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About Cigna Corporation
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, and Other Operations and Corporate.
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