February 07, 2013 at 09:43 AM EST
Cigna Q4 Profit Rises 49% on 40% Revenue Growth (CI)

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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