Jefferies Group Weighs in on CIGNA Co.’s Q1 2018 Earnings (CI)
CIGNA Co. (NYSE:CI) – Stock analysts at Jefferies Group lifted their Q1 2018 EPS estimates for CIGNA in a report released on Friday. Jefferies Group analyst D. Windley now forecasts that the health services provider will post earnings per share of $3.50 for the quarter, up from their previous estimate of $3.22. Jefferies Group has a “Buy” rating and a $231.00 price objective on the stock. Jefferies Group also issued estimates for CIGNA’s Q2 2018 earnings at $3.51 EPS, Q3 2018 earnings at $3.48 EPS and Q4 2018 earnings at $2.65 EPS.
CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.47. CIGNA had a return on equity of 18.85% and a net margin of 5.74%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.17 billion. During the same period last year, the business posted $1.94 EPS. The business’s revenue was up 5.1% compared to the same quarter last year.
Shares of CIGNA (CI) opened at $213.39 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. CIGNA has a 1-year low of $133.52 and a 1-year high of $213.73. The firm has a market capitalization of $52,611.24, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.
Several large investors have recently bought and sold shares of the stock. Saratoga Research & Investment Management purchased a new position in CIGNA in the 3rd quarter valued at approximately $112,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in CIGNA in the 2nd quarter valued at approximately $106,000. Horan Capital Advisors LLC. purchased a new position in CIGNA in the 3rd quarter valued at approximately $123,000. Grove Bank & Trust grew its stake in CIGNA by 171.9% in the 3rd quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after buying an additional 617 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in CIGNA in the 3rd quarter valued at approximately $185,000. 87.75% of the stock is currently owned by institutional investors.
In other CIGNA news, Chairman Isaiah Harris, Jr. sold 212 shares of CIGNA stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $209.35, for a total transaction of $44,382.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mary T. Hoeltzel sold 575 shares of CIGNA stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $197.03, for a total transaction of $113,292.25. Following the completion of the sale, the chief accounting officer now directly owns 2,499 shares in the company, valued at approximately $492,377.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,185 shares of company stock worth $12,789,459. Insiders own 1.30% of the company’s stock.
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CIGNA 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, and Other Operations and Corporate.
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