Health insurance company Cigna Corporation (CI) posted a better-than-expected fourth quarter profit on Thursday and raised its 2013 earnings outlook.
The Bloomfield, Connecticut-based company reported a fourth-quarter net income of $406 million, or $1.41 per share, up from $273 million, or 98 cents per share, a year earlier.
Adjusted net income from operations was $452 million, or $1.57 per share, compared to $293 million, or $1.05 per share, earned a year earlier. Analysts, according to Thomson Reuters, were expecting the company to report earnings of $1.48 per share.
Total revenue rose to $7.62 billion from last year’s $5.43 billion. The analyst forecast was $6.72 billion.
The company increase its full year 2013 outlook; it now expects adjusted income from operations to be in the range of $5.85 to $6.30 per share. Analysts expect earnings to be $6.34 per share in 2013.
Cigna shares were up 92 cents, or +1.54%, during morning trading on Thursday. The stock is up +39% over the past year.
The Bottom Line
Shares of Cigna (CI) have a dividend yield of 0.07% based on last night’s closing price of $59.67 and the company’s annualized dividend payout of 4 cents per share.
Cigna Corporation (CI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here