CIGNA Co. (NYSE:CI) – Investment analysts at Oppenheimer increased their Q4 2018 EPS estimates for shares of CIGNA in a research note issued on Friday. Oppenheimer analyst M. Wiederhorn now expects that the health services provider will post earnings of $2.60 per share for the quarter, up from their prior forecast of $2.38. Oppenheimer currently has a “Outperform” rating and a $237.00 target price on the stock. Oppenheimer also issued estimates for CIGNA’s Q4 2019 earnings at $2.82 EPS.
Several other analysts have also commented on CI. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research report on Monday, October 9th. Jefferies Group raised their price target on shares of CIGNA from $201.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, October 13th. BMO Capital Markets started coverage on shares of CIGNA in a research report on Monday, October 16th. They set a “market perform” rating and a $210.00 price target on the stock. Credit Suisse Group started coverage on shares of CIGNA in a research report on Thursday, November 2nd. They set an “outperform” rating and a $219.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $220.00 price target (up previously from $185.00) on shares of CIGNA in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $210.12.
CIGNA (NYSE:CI) last issued its earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.07. CIGNA had a net margin of 5.38% and a return on equity of 18.84%. The firm had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter last year, the company posted $1.87 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year.
In other news, EVP Alan Muney sold 15,345 shares of CIGNA stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $200.80, for a total value of $3,081,276.00. Following the sale, the executive vice president now owns 28,457 shares in the company, valued at $5,714,165.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mary T. Hoeltzel sold 575 shares of CIGNA stock in a transaction dated Thursday, November 9th. The shares were 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 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 quarter, insiders sold 75,655 shares of company stock worth $15,503,365. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Saratoga Research & Investment Management acquired a new stake in shares of CIGNA in the third quarter valued at about $112,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of CIGNA in the fourth quarter valued at about $122,000. Cerebellum GP LLC acquired a new stake in shares of CIGNA in the fourth quarter valued at about $127,000. Horan Capital Advisors LLC. acquired a new stake in shares of CIGNA in the third quarter valued at about $123,000. Finally, Grove Bank & Trust grew its position in shares of CIGNA by 171.9% in the third quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after purchasing an additional 617 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.
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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