Cigna (NYSE:CI) Announces Quarterly Earnings Results

Cigna (NYSE:CI) announced its earnings results on Thursday. The health services provider reported $4.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.56, Morningstar.com reports. The company had revenue of $34.38 billion during the quarter, compared to analyst estimates of $33.27 billion. Cigna had a net margin of 4.11% and a return on equity of 14.23%. Cigna’s revenue was up 198.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.89 earnings per share. Cigna updated its FY 2019 guidance to $16.60-16.90 EPS and its FY19 guidance to $16.60-16.90 EPS.

NYSE CI opened at $167.56 on Friday. The company has a 50 day simple moving average of $166.03. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. Cigna has a one year low of $141.95 and a one year high of $226.60. The stock has a market capitalization of $65.36 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.89 and a beta of 0.71.

CI has been the subject of several research analyst reports. Citigroup lowered their target price on shares of Cigna from $228.00 to $203.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. ValuEngine lowered shares of Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research note on Tuesday, June 11th. UBS Group initiated coverage on shares of Cigna in a research note on Tuesday, April 23rd. They set a “buy” rating and a $185.00 target price for the company. Finally, Goldman Sachs Group lowered shares of Cigna from a “conviction-buy” rating to a “buy” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $217.40.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in Cigna by 21.6% in the first quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock worth $1,966,710,000 after acquiring an additional 2,171,463 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cigna by 61.3% in the fourth quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock worth $936,405,000 after acquiring an additional 1,876,556 shares during the last quarter. Boston Partners lifted its stake in Cigna by 34.7% in the first quarter. Boston Partners now owns 4,895,908 shares of the health services provider’s stock worth $787,360,000 after acquiring an additional 1,261,911 shares during the last quarter. Veritas Asset Management LLP lifted its stake in Cigna by 3.3% in the first quarter. Veritas Asset Management LLP now owns 4,605,129 shares of the health services provider’s stock worth $740,597,000 after acquiring an additional 146,675 shares during the last quarter. Finally, Sanders Capital LLC lifted its stake in Cigna by 9.2% in the second quarter. Sanders Capital LLC now owns 4,589,017 shares of the health services provider’s stock worth $797,936,000 after acquiring an additional 385,620 shares during the last quarter. 88.11% of the stock is owned by institutional investors and hedge funds.

Cigna Company Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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Earnings History for Cigna (NYSE:CI)

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