CIGNA Co. (NYSE:CI) announced a quarterly dividend on Wednesday, February 28th, RTT News reports. Shareholders of record on Monday, March 12th will be given a dividend of 0.04 per share by the health services provider on Tuesday, April 10th. This represents a $0.16 dividend on an annualized basis and a yield of 0.08%.
CIGNA has a dividend payout ratio of 0.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CIGNA to earn $14.46 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 0.3%.
Shares of CIGNA (NYSE CI) opened at $195.89 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.37 and a quick ratio of 0.39. The stock has a market capitalization of $48,024.91, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.45. CIGNA has a 12-month low of $143.85 and a 12-month high of $227.13.
In related news, Director Jane E. Md Henney sold 400 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $212.96, for a total transaction of $85,184.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Isaiah Harris, Jr. sold 212 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $209.35, for a total value of $44,382.20. The disclosure for this sale can be found here. Insiders have sold a total of 40,931 shares of company stock worth $8,568,543 in the last three months. Corporate insiders own 1.30% of the company’s stock.
A number of equities research analysts have issued reports on CI shares. Citigroup increased their price target on CIGNA from $198.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Jefferies Group increased their price target on CIGNA from $221.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price target on the stock in a research report on Friday, December 22nd. Finally, Goldman Sachs Group started coverage on CIGNA in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $210.12.
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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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