Cigna Corporation (CI) Updates FY17 Earnings Guidance

Cigna Corporation (NYSE:CI) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.20-$10.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $10.02.

Cigna Corporation (NYSE CI) traded up $4.06 during midday trading on Friday, hitting $201.90. 1,238,151 shares of the stock were exchanged, compared to its average volume of 1,508,257. The company has a market cap of $48.91 billion, a price-to-earnings ratio of 19.11 and a beta of 0.49.

Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.47. Cigna Corporation had a net margin of 5.74% and a return on equity of 18.85%. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.17 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. sell-side analysts expect that Cigna Corporation will post 10.4 earnings per share for the current fiscal year.

CI has been the subject of a number of analyst reports. Piper Jaffray Companies reiterated a buy rating and issued a $191.00 price target on shares of Cigna Corporation in a research report on Sunday, September 17th. ValuEngine downgraded shares of Cigna Corporation from a buy rating to a hold rating in a research report on Thursday, July 20th. Credit Suisse Group reiterated an outperform rating and issued a $193.00 price target (up from $190.00) on shares of Cigna Corporation in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Cigna Corporation from a hold rating to a buy rating and set a $214.00 price target for the company in a research report on Monday, October 9th. Finally, Deutsche Bank AG lifted their price objective on shares of Cigna Corporation from $175.00 to $180.00 and gave the company a buy rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $199.44.

In related news, Chairman Isaiah Harris, Jr. sold 247 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total value of $45,761.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason D. Sadler sold 37,756 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $176.16, for a total transaction of $6,651,096.96. Following the completion of the sale, the insider now directly owns 47,844 shares in the company, valued at approximately $8,428,199.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,696 shares of company stock worth $8,070,481. Insiders own 1.30% of the company’s stock.

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About Cigna Corporation

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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