Cigna Co. Forecasted to Post Q1 2024 Earnings of $6.75 Per Share (NYSE:CI)

Cigna Co. (NYSE:CIGet Rating) – Equities research analysts at Oppenheimer issued their Q1 2024 earnings per share (EPS) estimates for shares of Cigna in a research report issued on Thursday, January 19th. Oppenheimer analyst M. Wiederhorn forecasts that the health services provider will post earnings of $6.75 per share for the quarter. The consensus estimate for Cigna’s current full-year earnings is $23.13 per share. Oppenheimer also issued estimates for Cigna’s Q2 2024 earnings at $7.06 EPS, Q3 2024 earnings at $7.23 EPS, Q4 2024 earnings at $6.98 EPS and FY2025 earnings at $31.46 EPS.

A number of other equities research analysts also recently issued reports on CI. Raymond James downgraded shares of Cigna from a “strong-buy” rating to an “outperform” rating and set a $370.00 price target for the company. in a research report on Monday, November 21st. Royal Bank of Canada boosted their price objective on shares of Cigna from $294.00 to $344.00 and gave the company a “sector perform” rating in a research report on Monday, November 7th. SVB Leerink upped their target price on shares of Cigna from $305.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 8th. Cowen upped their price target on shares of Cigna from $329.00 to $385.00 in a research note on Monday, November 7th. Finally, Mizuho increased their target price on shares of Cigna from $330.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 10th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cigna presently has an average rating of “Moderate Buy” and a consensus price target of $329.45.

Cigna Stock Performance

NYSE:CI opened at $308.36 on Friday. The firm has a market capitalization of $94.28 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.13 and a beta of 0.69. The business’s fifty day moving average price is $321.53 and its 200 day moving average price is $300.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.73 and a quick ratio of 0.73. Cigna has a 12 month low of $213.16 and a 12 month high of $340.11.

Cigna (NYSE:CIGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The health services provider reported $6.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.34. Cigna had a return on equity of 15.94% and a net margin of 3.67%. The business had revenue of $45.36 billion during the quarter, compared to analyst estimates of $44.87 billion.

Cigna Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Tuesday, December 6th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, December 5th. Cigna’s dividend payout ratio (DPR) is currently 21.39%.

Insider Activity at Cigna

In other news, EVP Cynthia Ryan sold 3,009 shares of the company’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $327.95, for a total transaction of $986,801.55. Following the sale, the executive vice president now directly owns 4,319 shares in the company, valued at $1,416,416.05. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Cigna news, EVP Cynthia Ryan sold 3,009 shares of the firm’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $327.95, for a total value of $986,801.55. Following the transaction, the executive vice president now directly owns 4,319 shares of the company’s stock, valued at $1,416,416.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason D. Sadler sold 16,667 shares of Cigna stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $333.88, for a total value of $5,564,777.96. Following the completion of the transaction, the insider now owns 35,750 shares of the company’s stock, valued at approximately $11,936,210. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cigna

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Castle Wealth Management LLC acquired a new position in Cigna in the 2nd quarter valued at about $25,000. Pittenger & Anderson Inc. acquired a new position in Cigna in the 2nd quarter valued at $26,000. Pacifica Partners Inc. raised its holdings in Cigna by 95.2% in the 4th quarter. Pacifica Partners Inc. now owns 82 shares of the health services provider’s stock valued at $27,000 after acquiring an additional 40 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Cigna by 178.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 103 shares of the health services provider’s stock worth $29,000 after buying an additional 66 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new stake in shares of Cigna during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 87.61% of the company’s stock.

About Cigna

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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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