Cigna (NYSE:CI) Updates FY 2022 Earnings Guidance

Cigna (NYSE:CIGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $22.60- for the period, compared to the consensus EPS estimate of $22.49. The company issued revenue guidance of $177.00B-, compared to the consensus revenue estimate of $178.90 billion.

NYSE CI opened at $259.49 on Monday. The stock has a 50 day moving average price of $252.20 and a 200-day moving average price of $234.29. Cigna has a one year low of $191.74 and a one year high of $271.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $82.33 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.02 and a beta of 0.78.

Cigna (NYSE:CIGet Rating) last released its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 EPS for the quarter, beating the consensus estimate of $5.13 by $0.88. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The business had revenue of $44.01 billion during the quarter, compared to analyst estimates of $43.48 billion. During the same quarter last year, the business earned $4.73 earnings per share. Cigna’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Cigna will post 22.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Wednesday, June 8th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $4.48 annualized dividend and a yield of 1.73%. Cigna’s payout ratio is currently 27.79%.

A number of brokerages have recently commented on CI. Cowen upgraded Cigna from a market perform rating to an outperform rating and lifted their target price for the stock from $242.00 to $329.00 in a report on Monday, May 9th. Truist Financial lifted their price objective on shares of Cigna from $290.00 to $310.00 in a research note on Monday, May 9th. SVB Leerink increased their target price on shares of Cigna from $224.00 to $245.00 and gave the company a market perform rating in a research note on Tuesday, February 22nd. JPMorgan Chase & Co. raised shares of Cigna from a neutral rating to an overweight rating and lifted their price target for the stock from $248.00 to $304.00 in a research note on Monday, May 16th. Finally, Barclays increased their price objective on shares of Cigna from $275.00 to $310.00 and gave the stock an overweight rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $280.20.

In other Cigna news, CEO David Cordani sold 10,069 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $228.70, for a total value of $2,302,780.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicole S. Jones sold 5,901 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $270.00, for a total transaction of $1,593,270.00. Following the completion of the sale, the executive vice president now owns 36,908 shares in the company, valued at $9,965,160. The disclosure for this sale can be found here. Insiders sold 142,998 shares of company stock valued at $37,628,011 in the last three months. 0.80% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of CI. Fairfield Bush & CO. acquired a new stake in Cigna in the 1st quarter worth approximately $40,000. Zullo Investment Group Inc. acquired a new stake in shares of Cigna during the fourth quarter worth $68,000. Worth Asset Management LLC purchased a new stake in shares of Cigna during the first quarter valued at $92,000. EverSource Wealth Advisors LLC acquired a new position in shares of Cigna in the 4th quarter valued at $106,000. Finally, Fort Point Capital Partners LLC purchased a new position in Cigna in the 1st quarter worth $201,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Cigna (NYSE:CI)

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