CIGNA Co. (CI) Expected to Post Quarterly Sales of $10.29 Billion
Wall Street brokerages expect CIGNA Co. (NYSE:CI) to announce $10.29 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for CIGNA’s earnings, with estimates ranging from $10.19 billion to $10.38 billion. CIGNA reported sales of $9.89 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4%. The business is scheduled to report its next earnings results before the market opens on Thursday, February 1st.
On average, analysts expect that CIGNA will report full-year sales of $10.29 billion for the current financial year, with estimates ranging from $40.83 billion to $41.32 billion. For the next fiscal year, analysts expect that the firm will report sales of $43.97 billion per share, with estimates ranging from $43.21 billion to $44.87 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover CIGNA.
CIGNA (NYSE:CI) last issued its earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.47. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.17 billion. CIGNA had a return on equity of 18.85% and a net margin of 5.74%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 EPS.
In other news, Chairman Isaiah Harris, Jr. sold 212 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $209.35, for a total transaction of $44,382.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mary T. Hoeltzel sold 575 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $197.03, for a total transaction of $113,292.25. Following the transaction, 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. Insiders sold a total of 69,556 shares of company stock worth $14,160,975 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CI. Saratoga Research & Investment Management acquired a new position in shares of CIGNA during the third quarter valued at approximately $112,000. Iguana Healthcare Management LLC increased its stake in shares of CIGNA by 51.4% during the third quarter. Iguana Healthcare Management LLC now owns 26,500 shares of the health services provider’s stock valued at $4,954,000 after acquiring an additional 9,000 shares during the period. Sectoral Asset Management Inc increased its stake in shares of CIGNA by 194.1% during the third quarter. Sectoral Asset Management Inc now owns 45,615 shares of the health services provider’s stock valued at $8,527,000 after acquiring an additional 30,105 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of CIGNA by 54.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,058 shares of the health services provider’s stock valued at $4,124,000 after acquiring an additional 7,775 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of CIGNA by 10.3% during the third quarter. Toronto Dominion Bank now owns 95,683 shares of the health services provider’s stock valued at $17,885,000 after acquiring an additional 8,943 shares during the period. 87.75% of the stock is currently owned by hedge funds and other institutional investors.
CIGNA (NYSE CI) traded down $1.62 during trading on Thursday, reaching $218.74. The company’s stock had a trading volume of 478,652 shares, compared to its average volume of 1,168,036. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. CIGNA has a 52 week low of $133.52 and a 52 week high of $221.13. The stock has a market capitalization of $54,000.00, a PE ratio of 23.96, a PEG ratio of 1.43 and a beta of 0.51.
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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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