Cigna (NYSE:CI – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $22.60- for the period, compared to the consensus estimate of $22.49. The company issued revenue guidance of $177.00B-, compared to the consensus revenue estimate of $178.90 billion.
Shares of CI stock traded up $3.52 during trading hours on Monday, hitting $272.40. 64,998 shares of the company were exchanged, compared to its average volume of 1,621,315. The firm has a market cap of $86.43 billion, a PE ratio of 16.90, a PEG ratio of 1.08 and a beta of 0.78. Cigna has a 1 year low of $191.74 and a 1 year high of $272.97. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average of $255.00 and a 200 day moving average of $236.06.
Cigna (NYSE:CI – Get Rating) last announced its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.88. The business had revenue of $44.01 billion for the quarter, compared to analyst estimates of $43.48 billion. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.73 EPS. Analysts expect that Cigna will post 22.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th will be issued a dividend of $1.12 per share. The ex-dividend date is Tuesday, June 7th. This represents a $4.48 annualized dividend and a dividend yield of 1.64%. Cigna’s payout ratio is currently 27.79%.
CI has been the topic of several recent analyst reports. Oppenheimer increased their price objective on shares of Cigna from $300.00 to $310.00 and gave the stock an outperform rating in a report on Monday, May 9th. Barclays raised their price target on shares of Cigna from $275.00 to $310.00 and gave the company an overweight rating in a report on Monday, May 23rd. Bank of America upgraded shares of Cigna from an underperform rating to a neutral rating and raised their price target for the company from $265.00 to $300.00 in a report on Thursday. Mizuho raised their price target on shares of Cigna from $266.00 to $291.00 in a report on Monday, May 9th. Finally, Royal Bank of Canada raised their price target on shares of Cigna from $235.00 to $272.00 in a report on Monday, May 9th. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $286.84.
In other news, CEO Eric P. Palmer sold 8,126 shares of the business’s stock in a transaction that occurred on Wednesday, April 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,031,500.00. Following the sale, the chief executive officer now directly owns 40,942 shares in the company, valued at $10,235,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 3,717 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $260.89, for a total value of $969,728.13. Following the sale, the chief executive officer now owns 145,126 shares in the company, valued at $37,861,922.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,661 shares of company stock valued at $35,263,939. 0.80% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clearbridge Investments LLC bought a new stake in Cigna in the first quarter valued at $44,063,000. The Manufacturers Life Insurance Company boosted its stake in Cigna by 33.6% in the first quarter. The Manufacturers Life Insurance Company now owns 339,852 shares of the health services provider’s stock worth $81,998,000 after purchasing an additional 85,507 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Cigna by 540.6% in the first quarter. Worldquant Millennium Advisors LLC now owns 92,704 shares of the health services provider’s stock worth $22,213,000 after purchasing an additional 78,232 shares in the last quarter. Bridgewater Associates LP boosted its stake in Cigna by 275.7% in the first quarter. Bridgewater Associates LP now owns 101,181 shares of the health services provider’s stock worth $24,244,000 after purchasing an additional 74,247 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Cigna by 27.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 179,292 shares of the health services provider’s stock worth $42,960,000 after purchasing an additional 38,800 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.
About Cigna (Get Rating)
Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.
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