Oppenheimer Weighs in on Cigna Co.’s FY2024 Earnings (NYSE:CI)

Cigna Co. (NYSE:CIGet Rating) – Oppenheimer issued their FY2024 EPS estimates for Cigna in a research note issued to investors on Thursday, January 19th. Oppenheimer analyst M. Wiederhorn forecasts that the health services provider will post earnings per share of $28.02 for the year. The consensus estimate for Cigna’s current full-year earnings is $23.14 per share.

Several other research analysts have also commented on CI. Morgan Stanley raised their price objective on shares of Cigna from $347.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Royal Bank of Canada raised their price objective on shares of Cigna from $294.00 to $344.00 and gave the company a “sector perform” rating in a research note on Monday, November 7th. Mizuho raised their price objective 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. Credit Suisse Group raised their price objective on shares of Cigna from $329.00 to $368.00 and gave the company an “outperform” rating in a research note on Monday, November 7th. Finally, 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 note on Monday, November 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $329.45.

Cigna Trading Down 0.7 %

NYSE CI opened at $308.36 on Monday. The firm has a 50 day simple moving average of $321.53 and a 200-day simple moving average of $301.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.73. Cigna has a one year low of $213.16 and a one year high of $340.11. The firm has a market cap of $94.28 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.10 and a beta of 0.69.

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

Cigna Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 21st. Shareholders of record on Tuesday, December 6th were given a dividend of $1.12 per share. The ex-dividend date was Monday, December 5th. This represents a $4.48 annualized dividend and a dividend yield of 1.45%. Cigna’s payout ratio is currently 21.39%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cigna

Institutional investors and hedge funds have recently made changes to their positions in the business. Castle Wealth Management LLC purchased a new position in Cigna in the 2nd quarter valued at about $25,000. Pacifica Partners Inc. increased its stake in shares of Cigna by 95.2% during 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 stake 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 valued at $29,000 after acquiring an additional 66 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of Cigna during the 2nd quarter valued at about $31,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Cigna by 32.3% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 401 shares of the health services provider’s stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Stories

Earnings History and Estimates for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.