Cigna Corporation (CI) Releases Earnings Results, Beats Expectations By $0.47 EPS
Cigna Corporation (NYSE:CI) issued its quarterly earnings results on Thursday. The health services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.47, Bloomberg Earnings reports. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 earnings per share. Cigna Corporation updated its FY17 guidance to $10.20-$10.40 EPS.
CI has been the topic of a number of research reports. Deutsche Bank AG boosted their price target on Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, August 7th. Credit Suisse Group restated a “buy” rating and issued a $196.00 price target on shares of Cigna Corporation in a report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and issued a $190.00 price target (down from $199.00) on shares of Cigna Corporation in a report on Friday, August 4th. BidaskClub lowered Cigna Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $175.00 target price on shares of Cigna Corporation in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $197.06.
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In other Cigna Corporation news, Director William D. Zollars sold 1,232 shares of Cigna Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The transaction 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 Cigna Corporation stock in a transaction that occurred 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 transaction, 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 three months, insiders have sold 45,696 shares of company stock worth $8,070,481. Insiders own 1.30% of the company’s stock.
Cigna Corporation 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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