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

Cigna Co. (NYSE:CIGet Rating) – Equities research analysts at Jefferies Financial Group upped their Q2 2022 EPS estimates for shares of Cigna in a research report issued on Sunday, June 5th. Jefferies Financial Group analyst D. Windley now anticipates that the health services provider will post earnings of $5.53 per share for the quarter, up from their prior estimate of $5.40.

A number of other research firms have also recently issued reports on CI. Wells Fargo & Company lifted their price target on shares of Cigna from $278.00 to $306.00 in a research note on Monday, May 9th. Morgan Stanley lifted their price target on shares of Cigna from $235.00 to $283.00 and gave the company an “equal weight” rating in a research note on Friday, May 27th. Cowen raised shares of 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 research note on Monday, May 9th. Royal Bank of Canada lifted their target price on shares of Cigna from $235.00 to $272.00 in a research note on Monday, May 9th. Finally, Raymond James lifted their target price on shares of Cigna from $275.00 to $300.00 in a research note on Tuesday, May 10th. Six 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $286.84.

Cigna stock opened at $262.28 on Wednesday. The company’s fifty day moving average price is $257.90 and its 200 day moving average price is $238.23. Cigna has a 1 year low of $191.74 and a 1 year high of $273.58. The stock has a market capitalization of $83.21 billion, a P/E ratio of 16.27, a P/E/G 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.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Wednesday, June 8th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, June 7th. Cigna’s payout ratio is 27.79%.

In related news, CEO David Cordani sold 45,380 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $268.10, for a total transaction of $12,166,378.00. Following the sale, the chief executive officer now directly owns 152,750 shares in the company, valued at approximately $40,952,275. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason D. Sadler sold 5,000 shares of Cigna stock in a transaction that occurred on Wednesday, April 6th. The stock was sold at an average price of $250.00, for a total value of $1,250,000.00. Following the sale, the insider now owns 31,749 shares in the company, valued at $7,937,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,372 shares of company stock valued at $35,194,868. Company insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CI. State Street Corp boosted its position in Cigna by 1.1% during the 4th quarter. State Street Corp now owns 14,982,346 shares of the health services provider’s stock worth $3,440,396,000 after acquiring an additional 162,686 shares during the period. Sanders Capital LLC raised its position in shares of Cigna by 0.3% during the first quarter. Sanders Capital LLC now owns 7,479,977 shares of the health services provider’s stock worth $1,963,220,000 after purchasing an additional 21,880 shares during the period. Geode Capital Management LLC raised its position in Cigna by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 5,428,675 shares of the health services provider’s stock valued at $1,242,969,000 after buying an additional 41,696 shares during the period. Norges Bank acquired a new position in Cigna during the fourth quarter valued at $747,950,000. Finally, Invesco Ltd. raised its position in Cigna by 25.1% during the first quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider’s stock valued at $764,682,000 after buying an additional 639,645 shares during the period. Institutional investors 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.

See Also

Earnings History and Estimates for Cigna (NYSE:CI)

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