Wall Street brokerages expect Cigna Co. (NYSE:CI – Get Rating) to post $44.34 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Cigna’s earnings. The highest sales estimate is $45.01 billion and the lowest is $43.78 billion. Cigna posted sales of $43.11 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The business is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.
On average, analysts expect that Cigna will report full-year sales of $178.42 billion for the current year, with estimates ranging from $177.14 billion to $181.58 billion. For the next financial year, analysts expect that the company will post sales of $187.31 billion, with estimates ranging from $184.25 billion to $189.60 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cigna.
Cigna (NYSE:CI – Get Rating) last released its earnings results on Friday, May 6th. The health services provider reported $6.01 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.88. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The company had revenue of $44.01 billion for the quarter, compared to analysts’ expectations of $43.48 billion. During the same quarter in the previous year, the company earned $4.73 EPS. Cigna’s revenue for the quarter was up 7.4% on a year-over-year basis.
Shares of CI stock opened at $264.96 on Wednesday. The stock has a market cap of $84.06 billion, a P/E ratio of 16.44, a PEG ratio of 1.02 and a beta of 0.78. Cigna has a 52 week low of $191.74 and a 52 week high of $271.71. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $253.36 and its two-hundred day simple moving average is $234.85.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th will be paid a dividend of $1.12 per share. The ex-dividend date is Tuesday, June 7th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.69%. Cigna’s dividend payout ratio (DPR) is presently 27.79%.
In other news, CEO David Cordani sold 45,261 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $270.42, for a total transaction of $12,239,479.62. Following the completion of the sale, the chief executive officer now owns 160,499 shares of the company’s stock, valued at $43,402,139.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Everett Neville sold 268 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $228.70, for a total value of $61,291.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,998 shares of company stock worth $37,628,011. 0.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CI. Country Trust Bank grew its stake in Cigna by 116.7% during the 1st quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. Missouri Trust & Investment Co bought a new position in Cigna in the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. bought a new stake in shares of Cigna during the first quarter valued at approximately $30,000. Exane Derivatives increased its position in shares of Cigna by 6,200.0% during the first quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 124 shares during the period. Finally, Wagner Wealth Management LLC increased its position in shares of Cigna by 144.4% during the fourth quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.
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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