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.