On Thursday, during pre-market trading, CIGNA Corporation posted its complete fiscal year and fourth quarter results. Company announced earnings per share of $1.69 beating the analysts estimate of $1.67 by 0.02 cents. The company earned revenue of $8.93 billion, which was almost $38 million above than the analysts' expected $8.89 billion.
Fees and premiums from CIGNA's Global Health Care unit increased by 9.3% to $6.25 million, whereas from Global Supplemental Benefits unit, they went up by 10% from January 1st to February 4th, 2015. CIGNA Corp. (NYSE:Ci) repurchased 1.1 million additional shares for approximately $115 million.
CIGNA Corp. reported last year's adjusted income of $8.00 to $8.40 per share from operations, against analysts' expectation of $8.17 per share.
Chief Executive Officer of CIGNA Corp, David M Cordani said, "We continue to force company's capabilities throughout our different businesses, effectively use the capital, and bring personalized and innovative solutions to create long-term value in current and new markets."
Almost 15 analysts have recommended a buy rating on CIGNA stock with 1.97 average rating. Zacks research analysts has given a counter rating of three, which means that the firm's advise on CIGNA Corp stock is Neutral. It is recommended that new investment should be made in the company only if it is undervalued.
Quite a few analysts have recently shared their views on CIGNA Corp stock. Jefferies Group analysts increased their target price to $113 from $99 per share, on CIGNA Corp and also rated it as hold on Tuesday, 20th January.
Also, Goldman Sachs' analysts updated their rating on the company's shares to a buy from neutral. And Barclay's analysts increased their target price on CIGNA stock from $103 to $109 per share and have given the company an equal weight rating.
Analysts at Deutsche Bank stood by its' previous rating as buy and have set a new target price of $125 more than previous price of $108.
Out of 13 analysts covering CIGNA corporation shares, five have rated it as hold, while eight have given the stock a buy rating. Overall, the company has an average rating of buy and mean target price of $109.60.
CIGNA Corp. (NYSE:Ci) stock is up by 0.62%, traded at $111.52 in real-time, with 30-days average volume of 1.35 million shares. The Bloomfield, Connecticut-based company has a 52-week low of $73.41, and a 52-week high of $113.39, with a market capitalization of $28.83 billion and price to earnings ratio of 15.30.