Jefferies Financial Group Weighs in on Cigna Co.’s Q2 2022 Earnings (NYSE:CI)

Cigna Co. (NYSE:CIGet Rating) – Stock analysts at Jefferies Financial Group raised their Q2 2022 earnings estimates for shares of Cigna in a research note issued to investors on Sunday, June 5th. Jefferies Financial Group analyst D. Windley now expects that the health services provider will earn $5.53 per share for the quarter, up from their prior forecast of $5.40.

Cigna (NYSE:CIGet Rating) last issued its earnings results on Friday, May 6th. The health services provider reported $6.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.88. The business had revenue of $44.01 billion during the quarter, compared to analysts’ expectations of $43.48 billion. Cigna had a return on equity of 15.31% and a net margin of 3.04%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.73 EPS.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Cigna from $278.00 to $306.00 in a research report on Monday, May 9th. SVB Leerink boosted their price target on 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. upgraded Cigna from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $248.00 to $304.00 in a research report on Monday, May 16th. Mizuho boosted their target price on Cigna from $266.00 to $291.00 in a research report on Monday, May 9th. Finally, Bank of America upgraded Cigna from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $265.00 to $300.00 in a research report on Thursday, May 26th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cigna has a consensus rating of “Buy” and an average target price of $286.84.

Shares of CI opened at $262.28 on Wednesday. The stock’s fifty day moving average is $257.90 and its 200-day moving average is $238.23. Cigna has a one year low of $191.74 and a one year high of $273.58. The firm has a market capitalization of $83.21 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.02 and a beta of 0.77. 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 business also recently declared 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 dividend on an annualized basis and a yield of 1.71%. Cigna’s dividend payout ratio (DPR) is currently 27.79%.

In other Cigna news, CEO David Cordani sold 45,261 shares of Cigna stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $270.42, for a total transaction of $12,239,479.62. Following the completion of the transaction, the chief executive officer now owns 160,499 shares in the company, valued at approximately $43,402,139.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicole S. Jones sold 5,901 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $270.00, for a total value of $1,593,270.00. Following the completion of the transaction, the executive vice president now owns 36,908 shares in the company, valued at approximately $9,965,160. The disclosure for this sale can be found here. Insiders have sold a total of 132,372 shares of company stock valued at $35,194,868 in the last quarter. Company insiders own 0.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Country Trust Bank raised its holdings in shares of Cigna by 116.7% in the 1st quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock worth $25,000 after purchasing an additional 56 shares during the period. Missouri Trust & Investment Co bought a new stake in shares of Cigna in the 4th quarter worth approximately $28,000. Wagner Wealth Management LLC raised its holdings in shares of Cigna by 144.4% in the 4th quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock worth $30,000 after purchasing an additional 78 shares during the period. Exane Derivatives raised its holdings in shares of Cigna by 6,200.0% in the 1st quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock worth $30,000 after purchasing an additional 124 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Cigna in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Cigna Company Profile (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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