CIGNA Co. (NYSE:CI) – Stock analysts at Leerink Swann cut their Q3 2017 earnings per share (EPS) estimates for CIGNA in a report released on Monday, Zacks Investment Research reports. Leerink Swann analyst A. Gupte now expects that the health services provider will post earnings of $2.38 per share for the quarter, down from their prior forecast of $2.40. Leerink Swann also issued estimates for CIGNA’s FY2017 earnings at $9.75 EPS, FY2018 earnings at $11.10 EPS, FY2019 earnings at $12.71 EPS and FY2020 earnings at $14.37 EPS.

CIGNA (NYSE:CI) last announced its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.33. The firm had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $10.11 billion. CIGNA had a net margin of 4.71% and a return on equity of 15.77%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share.

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Earnings History and Estimates for CIGNA (NYSE:CI)

A number of other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of CIGNA from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Bank of America Corp assumed coverage on shares of CIGNA in a research report on Monday, March 13th. They set a “buy” rating and a $175.00 price target on the stock. They noted that the move was a valuation call. Deutsche Bank AG assumed coverage on shares of CIGNA in a research note on Wednesday, April 5th. They issued a “buy” rating and a $172.00 price objective for the company. Citigroup Inc increased their price objective on shares of CIGNA from $139.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, January 23rd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $178.00 price objective (up previously from $172.00) on shares of CIGNA in a research note on Sunday, April 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $167.57.

CIGNA (NYSE:CI) opened at 160.12 on Tuesday. The company has a market cap of $40.99 billion, a PE ratio of 21.38 and a beta of 0.53. CIGNA has a 52 week low of $115.03 and a 52 week high of $164.88. The firm’s 50-day moving average is $155.52 and its 200-day moving average is $145.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rothschild Asset Management Inc. raised its stake in shares of CIGNA by 19.6% in the third quarter. Rothschild Asset Management Inc. now owns 6,039 shares of the health services provider’s stock valued at $787,000 after buying an additional 991 shares in the last quarter. World Asset Management Inc raised its stake in shares of CIGNA by 1.8% in the third quarter. World Asset Management Inc now owns 25,835 shares of the health services provider’s stock valued at $3,367,000 after buying an additional 465 shares in the last quarter. Rockefeller Financial Services Inc. raised its stake in shares of CIGNA by 17.0% in the third quarter. Rockefeller Financial Services Inc. now owns 12,758 shares of the health services provider’s stock valued at $1,663,000 after buying an additional 1,853 shares in the last quarter. American Investment Services Inc. bought a new stake in shares of CIGNA during the third quarter valued at approximately $258,000. Finally, Nikko Asset Management Americas Inc. bought a new stake in shares of CIGNA during the third quarter valued at approximately $248,000. 85.65% of the stock is currently owned by institutional investors.

In related news, CEO David Cordani sold 43,637 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $147.78, for a total transaction of $6,448,675.86. Following the transaction, the chief executive officer now directly owns 306,194 shares of the company’s stock, valued at $45,249,349.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas A. Mccarthy sold 4,464 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $146.54, for a total transaction of $654,154.56. Following the transaction, the chief financial officer now directly owns 80,531 shares in the company, valued at $11,801,012.74. The disclosure for this sale can be found here. Insiders have sold 61,223 shares of company stock valued at $9,055,001 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

CIGNA Company Profile

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

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