Cigna (NYSE:CI) Issues Earnings Results

Cigna (NYSE:CI) released its earnings results on Thursday. The health services provider reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $5.15 by $0.66, MarketWatch Earnings reports. Cigna had a return on equity of 15.89% and a net margin of 3.41%. The firm had revenue of $39.27 billion during the quarter, compared to the consensus estimate of $37.93 billion. During the same period in the prior year, the firm posted $4.30 earnings per share. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Cigna updated its FY 2020
Pre-Market guidance to 18.00-18.60 EPS and its FY20 guidance to $18.00-18.60 EPS.

NYSE CI opened at $172.69 on Friday. Cigna has a 1-year low of $118.50 and a 1-year high of $224.64. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $63.72 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.85 and a beta of 0.70. The firm’s fifty day simple moving average is $184.19 and its 200-day simple moving average is $189.90.

In other Cigna news, CEO David Cordani sold 150,531 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $208.40, for a total transaction of $31,370,660.40. Following the transaction, the chief executive officer now directly owns 145,873 shares of the company’s stock, valued at $30,399,933.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Partridge sold 2,700 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $180.04, for a total transaction of $486,108.00. Following the transaction, the director now directly owns 27,216 shares in the company, valued at $4,899,968.64. The disclosure for this sale can be found here. Insiders sold 231,802 shares of company stock worth $48,470,825 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

CI has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Cigna from $249.00 to $266.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. UBS Group cut their price objective on Cigna from $252.00 to $246.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Raymond James increased their price objective on Cigna from $210.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Monday, May 4th. Barclays reduced their target price on Cigna from $232.00 to $229.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Finally, Goldman Sachs Group increased their target price on Cigna from $244.00 to $264.00 and gave the company a “buy” rating in a report on Friday, June 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $244.00.

Cigna Company Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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Earnings History for Cigna (NYSE:CI)

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