Cigna (NYSE:CI) Issues FY 2022 Earnings Guidance

Cigna (NYSE:CIGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $22.90- for the period, compared to the consensus EPS estimate of $22.72. The company issued revenue guidance of $178.00B-, compared to the consensus revenue estimate of $178.59 billion.

Cigna Stock Performance

Cigna stock traded up $1.67 during midday trading on Friday, reaching $281.77. 2,039,836 shares of the company’s stock were exchanged, compared to its average volume of 1,937,033. Cigna has a 52 week low of $191.74 and a 52 week high of $284.46. The firm has a market cap of $89.40 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.10 and a beta of 0.73. The stock’s 50-day simple moving average is $265.57 and its 200 day simple moving average is $251.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.72.

Cigna (NYSE:CIGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.60. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The company had revenue of $45.48 billion during the quarter, compared to analysts’ expectations of $44.34 billion. During the same quarter in the previous year, the company posted $5.24 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Cigna will post 22.9 earnings per share for the current fiscal year.

Cigna Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be given a dividend of $1.12 per share. The ex-dividend date is Tuesday, September 6th. This represents a $4.48 annualized dividend and a yield of 1.59%. Cigna’s dividend payout ratio is currently 26.71%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CI. Wells Fargo & Company increased their price objective on Cigna from $278.00 to $306.00 in a report on Monday, May 9th. Credit Suisse Group set a $315.00 target price on shares of Cigna in a report on Tuesday, July 19th. Stephens upped their target price on shares of Cigna from $265.00 to $290.00 and gave the stock an overweight rating in a report on Wednesday, April 20th. Barclays upped their target price on shares of Cigna from $275.00 to $310.00 and gave the stock an overweight rating in a report on Monday, May 23rd. Finally, Oppenheimer reiterated an outperform rating and issued a $310.00 price objective on shares of Cigna in a research note on Tuesday, June 7th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $292.72.

Insider Buying and Selling at Cigna

In other news, insider Jason D. Sadler sold 3,458 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total value of $933,660.00. Following the transaction, the insider now owns 31,749 shares in the company, valued at $8,572,230. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Nicole S. Jones sold 5,901 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $270.00, for a total value of $1,593,270.00. Following the completion of the sale, the executive vice president now directly owns 36,908 shares of the company’s stock, valued at $9,965,160. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason D. Sadler sold 3,458 shares of the company’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $270.00, for a total transaction of $933,660.00. Following the transaction, the insider now owns 31,749 shares of the company’s stock, valued at approximately $8,572,230. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,642 shares of company stock worth $20,869,065. 0.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cigna

Several institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC increased its stake in Cigna by 18.8% in the 1st quarter. EP Wealth Advisors LLC now owns 2,966 shares of the health services provider’s stock worth $711,000 after buying an additional 470 shares during the period. The Manufacturers Life Insurance Company increased its position in Cigna by 33.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 339,852 shares of the health services provider’s stock valued at $81,998,000 after purchasing an additional 85,507 shares during the period. Gamco Investors INC. ET AL increased its position in Cigna by 0.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 18,044 shares of the health services provider’s stock valued at $4,324,000 after purchasing an additional 64 shares during the period. Worldquant Millennium Advisors LLC boosted its holdings in shares of Cigna by 540.6% in the 1st quarter. Worldquant Millennium Advisors LLC now owns 92,704 shares of the health services provider’s stock valued at $22,213,000 after buying an additional 78,232 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Cigna in the 1st quarter valued at about $735,000. Institutional investors own 88.57% of the company’s stock.

Cigna Company Profile

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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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Earnings History and Estimates for Cigna (NYSE:CI)

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