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Cigna

NYSE:CI
Snowflake Description

Fair value with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CI
NYSE
$50B
Market Cap
  1. Home
  2. US
  3. Healthcare
Company description

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The last earnings update was 44 days ago. More info.


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CI Share Price and Events
7 Day Returns
-0.4%
NYSE:CI
-1.9%
US Healthcare
-1.4%
US Market
1 Year Returns
0.6%
NYSE:CI
10.7%
US Healthcare
-3.7%
US Market
CI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cigna (CI) -0.4% -3.5% 5.3% 0.6% 42.6% 140.9%
US Healthcare -1.9% -3.4% -3.6% 10.7% 34.2% 89%
US Market -1.4% -3.9% -11.6% -3.7% 28.1% 36%
1 Year Return vs Industry and Market
  • CI underperformed the Healthcare industry which returned 10.7% over the past year.
  • CI outperformed the Market in United States of America which returned -3.7% over the past year.
Price Volatility
CI
Industry
5yr Volatility vs Market

CI Value

 Is Cigna undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cigna to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cigna.

NYSE:CI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.71
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.711 (1 + (1- 21%) (50.09%))
0.992
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.992 * 7.05%)
9.95%

Discounted Cash Flow Calculation for NYSE:CI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cigna is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:CI DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 4,374.33 4,299.33 4,555.00 6,906.00 7,347.63
Source Analyst x3 Analyst x3 Analyst x1 Analyst x2 Est @ 6.39%
Present Value
Discounted (@ 9.95%)
3,978.65 3,556.72 3,427.37 4,726.31 4,573.70
Present value of next 5 years cash flows $20,262.74
NYSE:CI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $7,347.63 × (1 + 2.95%) ÷ (9.95% – 2.95%)
$108,137.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $108,137.92 ÷ (1 + 9.95%)5
$67,312.87
NYSE:CI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $20,262.74 + $67,312.87
$87,575.61
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $87,575.61 / 243.53
$359.6
NYSE:CI Discount to Share Price
Calculation Result
Value per share (USD) From above. $359.60
Current discount Discount to share price of $205.37
= -1 x ($205.37 - $359.60) / $359.60
42.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Cigna is available for.
Intrinsic value
43%
Share price is $205.37 vs Future cash flow value of $359.6
Current Discount Checks
For Cigna to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cigna's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cigna's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cigna's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cigna's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $11.36
NYSE:CI Share Price ** NYSE (2018-12-14) in USD $205.37
United States of America Healthcare Industry PE Ratio Median Figure of 53 Publicly-Listed Healthcare Companies 20.34x
United States of America Market PE Ratio Median Figure of 3,017 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cigna.

NYSE:CI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CI Share Price ÷ EPS (both in USD)

= 205.37 ÷ 11.36

18.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cigna is good value based on earnings compared to the US Healthcare industry average.
  • Cigna is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Cigna's expected growth come at a high price?
Raw Data
NYSE:CI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
9.5%per year
United States of America Healthcare Industry PEG Ratio Median Figure of 42 Publicly-Listed Healthcare Companies 1.58x
United States of America Market PEG Ratio Median Figure of 2,104 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

NYSE:CI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.09x ÷ 9.5%

1.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cigna is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Cigna's assets?
Raw Data
NYSE:CI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $63.91
NYSE:CI Share Price * NYSE (2018-12-14) in USD $205.37
United States of America Healthcare Industry PB Ratio Median Figure of 89 Publicly-Listed Healthcare Companies 2.46x
United States of America Market PB Ratio Median Figure of 5,075 Publicly-Listed Companies 1.71x
NYSE:CI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CI Share Price ÷ Book Value per Share (both in USD)

= 205.37 ÷ 63.91

3.21x

* Primary Listing of Cigna.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cigna is overvalued based on assets compared to the US Healthcare industry average.
X
Value checks
We assess Cigna's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
  5. Cigna has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CI Future Performance

 How is Cigna expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cigna expected to grow at an attractive rate?
  • Cigna's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Cigna's earnings growth is positive but not above the United States of America market average.
  • Cigna's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 9.5%
NYSE:CI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 7%
United States of America Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 13.6%
United States of America Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 5,587 4,233
2021-12-31 5,330 4,062
2020-12-31 52,533 5,273 3,942 5
2019-12-31 48,623 4,765 3,598 8
2018-12-31 45,674 4,557 3,127 11
NYSE:CI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 44,542 4,219 2,759
2018-06-30 43,574 4,830 2,547
2018-03-31 42,522 4,532 2,554
2017-12-31 41,616 4,086 2,237
2017-09-30 41,332 4,358 2,353
2017-06-30 40,723 5,035 2,249
2017-03-31 40,258 4,684 1,946
2016-12-31 39,668 4,026 1,867
2016-09-30 39,252 4,315 1,911
2016-06-30 38,761 3,017 2,002
2016-03-31 38,293 3,117 2,080
2015-12-31 37,876 2,933 2,094

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cigna's earnings are expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
  • Cigna's revenue is expected to grow by 7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Cigna Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 19.94 19.94 19.94 1.00
2021-12-31 18.38 18.38 18.38 1.00
2020-12-31 16.81 17.01 16.67 3.00
2019-12-31 14.68 15.95 12.02 8.00
2018-12-31 12.58 13.49 11.80 9.00
NYSE:CI Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 11.36
2018-06-30 10.41
2018-03-31 10.32
2017-12-31 8.92
2017-09-30 9.28
2017-06-30 8.81
2017-03-31 7.61
2016-12-31 7.31
2016-09-30 7.48
2016-06-30 7.83
2016-03-31 8.14
2015-12-31 8.17

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Cigna is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Cigna's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cigna has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CI Past Performance

  How has Cigna performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cigna's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cigna's year on year earnings growth rate has been positive over the past 5 years.
  • Cigna's 1-year earnings growth exceeds its 5-year average (17.3% vs 7.3%)
  • Cigna's earnings growth has not exceeded the US Healthcare industry average in the past year (17.3% vs 26.6%).
Earnings and Revenue History
Cigna's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cigna Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 44,542.00 2,759.00 -1.00
2018-06-30 43,574.00 2,547.00
2018-03-31 42,522.00 2,554.00
2017-12-31 41,616.00 2,237.00
2017-09-30 41,332.00 2,353.00 54.00
2017-06-30 40,723.00 2,249.00
2017-03-31 40,258.00 1,946.00
2016-12-31 39,668.00 1,867.00
2016-09-30 39,252.00 1,911.00
2016-06-30 38,761.00 2,002.00
2016-03-31 38,293.00 2,080.00
2015-12-31 37,876.00 2,094.00
2015-09-30 37,276.00 2,135.00
2015-06-30 36,644.00 2,122.00
2015-03-31 35,885.00 2,107.00
2014-12-31 34,914.00 2,102.00
2014-09-30 34,098.00 1,996.00
2014-06-30 33,407.00 2,015.00
2014-03-31 32,654.00 1,947.00
2013-12-31 32,380.00 1,476.00
2013-09-30 31,888.00 1,521.00
2013-06-30 31,145.00 1,434.00
2013-03-31 30,587.00 1,309.00
2012-12-31 29,119.00 1,623.00
2012-09-30 26,836.00 1,490.00
2012-06-30 25,123.00 1,207.00
2012-03-31 23,208.00 1,218.00
2011-12-31 21,865.00 1,260.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cigna has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cigna used its assets less efficiently than the US Healthcare industry average last year based on Return on Assets.
  • Cigna's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cigna's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cigna has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CI Health

 How is Cigna's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cigna's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cigna is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cigna's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cigna's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cigna Company Filings, last reported 2 months ago.

NYSE:CI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 15,585.00 25,050.00 24,134.00
2018-06-30 14,782.00 5,304.00 3,854.00
2018-03-31 14,244.00 5,301.00 3,016.00
2017-12-31 13,784.00 5,439.00 3,171.00
2017-09-30 14,197.00 5,348.00 3,831.00
2017-06-30 14,605.00 4,763.00 3,749.00
2017-03-31 14,285.00 4,763.00 4,458.00
2016-12-31 13,785.00 5,032.00 3,876.00
2016-09-30 14,050.00 5,051.00 4,221.00
2016-06-30 13,435.00 5,089.00 2,923.00
2016-03-31 12,757.00 5,190.00 2,866.00
2015-12-31 12,113.00 5,169.00 2,349.00
2015-09-30 11,854.00 5,205.00 2,475.00
2015-06-30 11,379.00 5,196.00 2,066.00
2015-03-31 11,041.00 6,061.00 2,792.00
2014-12-31 10,879.00 5,126.00 1,583.00
2014-09-30 11,268.00 5,147.00 1,774.00
2014-06-30 11,051.00 5,148.00 2,199.00
2014-03-31 10,665.00 5,236.00 2,670.00
2013-12-31 10,677.00 5,249.00 3,426.00
2013-09-30 9,969.00 5,244.00 3,819.00
2013-06-30 9,876.00 5,187.00 3,506.00
2013-03-31 9,773.00 5,409.00 3,429.00
2012-12-31 9,883.00 5,200.00 3,132.00
2012-09-30 9,530.00 5,224.00 2,425.00
2012-06-30 9,022.00 5,222.00 3,299.00
2012-03-31 8,561.00 5,229.00 2,328.00
2011-12-31 7,994.00 5,105.00 4,915.00
  • Cigna's level of debt (160.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (52.6% vs 160.7% today).
  • Debt is not well covered by operating cash flow (16.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 17.5x coverage).
X
Financial health checks
We assess Cigna's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cigna has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CI Dividends

 What is Cigna's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.02%
Current annual income from Cigna dividends. Estimated to be 0.02% next year.
If you bought $2,000 of Cigna shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Cigna's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.51%).
  • Cigna's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
United States of America Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 1.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1983 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.04 1.00
2019-12-31 0.04 4.00
2018-12-31 0.04 3.00
NYSE:CI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-01 0.040 0.019
2018-08-02 0.040 0.020
2018-02-28 0.040 0.023
2018-02-01 0.040 0.020
2017-11-02 0.040 0.019
2017-08-04 0.040 0.022
2017-02-22 0.040 0.025
2017-02-02 0.040 0.027
2016-11-03 0.040 0.029
2016-07-29 0.040 0.031
2016-02-24 0.040 0.030
2016-02-04 0.040 0.030
2015-11-06 0.040 0.029
2015-07-30 0.040 0.029
2015-02-25 0.040 0.029
2015-02-05 0.040 0.034
2014-10-30 0.040 0.038
2014-07-31 0.040 0.043
2014-02-26 0.040 0.047
2014-02-07 0.040 0.052
2013-10-31 0.040 0.047
2013-08-01 0.040 0.051
2013-02-28 0.040 0.059
2013-02-07 0.040 0.067
2012-11-01 0.040 0.074
2012-08-02 0.040 0.086
2012-02-23 0.040 0.089
2012-02-02 0.040 0.091
2011-10-28 0.040 0.092
2011-08-04 0.040 0.091
2011-02-24 0.040 0.085
2011-02-03 0.040 0.094
2010-10-29 0.040 0.105
2010-08-05 0.040 0.116
2010-02-24 0.040 0.119
2010-02-04 0.040 0.120
2009-11-05 0.040 0.117
2009-07-30 0.040 0.137
2009-02-25 0.040 0.197
2009-02-05 0.040 0.199
2008-12-16 0.040 0.244

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cigna is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • Cigna is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Cigna's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Cigna's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of Cigna's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Cigna's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cigna afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cigna has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CI Management

 What is the CEO of Cigna's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Cordani
COMPENSATION $17,595,792
AGE 53
TENURE AS CEO 9 years
CEO Bio

Mr. David Michael Cordani has been the Chief Executive Officer and President of Cigna Corporation since December 25, 2009 and June 2008 respectively. Mr. Cordani served as the Chief Operating Officer of CIGNA Corp. from June 2008 to December 2009. He served as Senior Vice President of CIGNA Health Corporation., since June 2004. He served as Senior Vice President and Chief Financial Officer, CIGNA Health Corporation., from October 2002 to June 2004. He served as President of CIGNA Health Corporation. from July 2005 to 2008. He served as President of Health Segments, CIGNA Health Corporation from June 2004 to June 2008. He served as Senior Vice President, Transformation and Program Management of CIGNA HealthCare from April 2002 to October 2002; Vice President, Corporate Accounting and Planning of CIGNA Corporation from August 2000 to April 2002; Geographic Market Leader of Southeast Region at CIGNA HealthCare from December 1999 toAugust 2000. He held a number of leadership positions at CIGNA, including president of CIGNA HealthCare's Southeast Region, CIGNA Corporation's Controller and Chief Financial Officer for CIGNA HealthCare's Field Operations. Before joined CIGNA in 1991, he was with Coopers & Lybrand. He has been an Independent Director of General Mills, Inc. since November 2014. He serves as a Director of the National Association of Manufacturers. He has been a Director of CIGNA Corp. since October 28, 2009. He held several senior staff positions at Coopers & Lybrand, an accounting firm. Mr. Cordani holds a BS Degree from Texas A&M and an MBA Degree in Marketing from the University of Hartford. He is a Chartered Financial Consultant and a Certified Public Accountant. He held a variety of finance and operating positions for Cigna Corporation. He is Senior Executive Leader. He is Expertise at Governance, Accounting and Financial and Government/Public Policy. He is associated with Health and wellness.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year.
  • David's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Cigna management team in years:

7.5
Average Tenure
53
Average Age
  • The average tenure for the Cigna management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Cordani

TITLE
President
COMPENSATION
$18M
AGE
53
TENURE
9 yrs

Eric Palmer

TITLE
Executive VP & CFO
COMPENSATION
$4M
AGE
41
TENURE
1.5 yrs

Nicole Jones

TITLE
Executive VP & General Counsel
COMPENSATION
$3M
AGE
47
TENURE
7.5 yrs

Matt Manders

TITLE
President of Strategy & Solutions
COMPENSATION
$5M
AGE
56

Jason Sadler

TITLE
President of International Markets
COMPENSATION
$3M
AGE
49
TENURE
4.5 yrs

Mary Terese Hoeltzel

TITLE
VP & Chief Accounting Officer
TENURE
9.4 yrs

Mark Boxer

TITLE
Executive VP & Global Chief Information Officer
AGE
58
TENURE
7.7 yrs

William McDowell

TITLE
Vice President of Investor Relations

Lisa Bacus

TITLE
Executive VP
AGE
53
TENURE
5.6 yrs

John Feltz

TITLE
Vice President of Sales
Board of Directors Tenure

Average tenure and age of the Cigna board of directors in years:

11.7
Average Tenure
66
Average Age
  • The average tenure for the Cigna board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ike Harris

TITLE
Chairman of the Board
COMPENSATION
$501K
AGE
66
TENURE
9 yrs

David Cordani

TITLE
President
COMPENSATION
$18M
AGE
53
TENURE
9.2 yrs

Ed Hanway

TITLE
Chairman Emeritus
COMPENSATION
$19M
AGE
66

Bill Zollars

TITLE
Director
COMPENSATION
$301K
AGE
70
TENURE
13.8 yrs

Donna Zarcone

TITLE
Director
COMPENSATION
$301K
AGE
60
TENURE
13.8 yrs

Roman Martinez

TITLE
Director
COMPENSATION
$301K
AGE
70
TENURE
13.4 yrs

John Partridge

TITLE
Director
COMPENSATION
$305K
AGE
69
TENURE
9.9 yrs

Jim Rogers

TITLE
Director
COMPENSATION
$296K
AGE
71
TENURE
11.8 yrs

Eric Wiseman

TITLE
Director
COMPENSATION
$296K
AGE
62
TENURE
11.7 yrs

Eric Foss

TITLE
Director
COMPENSATION
$295K
AGE
60
TENURE
7.4 yrs
Who owns this company?
Recent Insider Trading
  • Cigna insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
07. Nov 18 Sell Michael Triplett Individual 05. Nov 18 05. Nov 18 -2,825 $214.25 $-605,253
06. Nov 18 Sell Jason Sadler Individual 02. Nov 18 02. Nov 18 -11,359 $212.99 $-2,419,344
X
Management checks
We assess Cigna's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cigna has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CI News

External News
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Simply Wall St News

Is There An Opportunity With Cigna Corporation's (NYSE:CI) 41.71% Undervaluation?

by taking the foreast future cash flows of the company and discounting them back to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

What Should You Know About Cigna Corporation's (NYSE:CI) Return On Capital?

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … To understand Cigna’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Is Cigna Corporation (NYSE:CI) A Financially Strong Company?

Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider Cigna Corporation (NYSE:CI). … With a market valuation of US$50.3b, CI is a safe haven in times of market uncertainty due to its strong balance sheet. … These firms won’t be left high and dry if liquidity dries up, and they will be relatively unaffected by rises in interest rates.

Simply Wall St -

Does Cigna Corporation (NYSE:CI) Create Value For Shareholders?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Cigna has a return on equity of 17% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is There An Opportunity With Cigna Corporation's (NYSE:CI) 37.96% Undervaluation?

I am going to run you through how I calculated the intrinsic value of Cigna Corporation (NYSE:CI). … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Did Cigna Corporation's (NYSE:CI) Recent Earnings Growth Beat The Trend?

After reading Cigna Corporation's (NYSE:CI) latest earnings update (30 June 2018), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … Did CI's recent earnings growth beat the long-term trend and the industry. … CI's trailing twelve-month earnings (from 30 June 2018) of US$2.55b has

Simply Wall St -

Cigna Corporation (NYSE:CI): What Are Investors Earning On Their Capital?

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Therefore, looking at how efficiently Cigna is able to use capital to create earnings will help us understand your potential return.

Simply Wall St -

Is Cigna Corporation's (NYSE:CI) Liquidity Good Enough?

Cigna Corporation (NYSE:CI), a large-cap worth US$41.42b, comes to mind for investors seeking a strong and reliable stock investment. … Most investors favour these big stocks due to their strong balance sheet and high market liquidity, meaning there are an adundance of stock in the public market available for trading. … These firms won’t be left high and dry if liquidity dries up, and they will be relatively unaffected by rises in interest rates.

Simply Wall St -

What is Behind Cigna Corporation's (NYSE:CI) Superior ROE?

and want to better understand how you can grow your money by investing in Cigna Corporation (NYSE:CI). … With an ROE of 17.94%, Cigna Corporation (NYSE:CI) outpaced its own industry which delivered a less exciting 13.77% over the past year. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden

Simply Wall St -

These Factors Make Cigna Corporation (NYSE:CI) A Great Investment

Attractive stocks have exceptional fundamentals. … In the case of Cigna Corporation (NYSE:CI), there's … financially-sound

Simply Wall St -

CI Company Info

Map
Description

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers. This segment also provides Medicare Advantage and Medicare Part D plans to seniors, and Medicaid plans. The Global Supplemental Benefits segment offers supplemental health, life, and accident insurance products. The Group Disability and Life segment provides group long-term and short-term disability, group life, accident, and specialty insurance products and related services. The Other Operations segment offers corporate-owned life insurance products that are permanent insurance contracts sold to corporations to provide coverage; and run-off settlement annuity contracts. The company distributes its products and services through insurance brokers and insurance consultants; and directly to employers, unions and other groups, or individuals, as well as through direct response television and the Internet. Cigna Corporation was founded in 1792 and is headquartered in Bloomfield, Connecticut.

Details
Name: Cigna Corporation
CI
Exchange: NYSE
Founded: 1792
$50,014,632,003
243,534,265
Website: http://www.cigna.com
Address: Cigna Corporation
900 Cottage Grove Road,
Bloomfield,
Connecticut, 06002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CI Common Stock New York Stock Exchange US USD 01. Apr 1982
DB CGN Common Stock Deutsche Boerse AG DE EUR 01. Apr 1982
LSE 0HQY Common Stock London Stock Exchange GB USD 01. Apr 1982
BMV CI * Common Stock Bolsa Mexicana de Valores MX MXN 01. Apr 1982
Number of employees
Current staff
Staff numbers
46,000
Cigna employees.
Industry
Managed Health Care
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/15 23:33
End of day share price update: 2018/12/14 00:00
Last estimates confirmation: 2018/12/13
Last earnings filing: 2018/11/01
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.