Key Developments: Cigna Corp (CI.N)

CI.N on New York Stock Exchange

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30 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Cigna Corp Completes Acquisition Of Alegis Care
Tuesday, 3 Sep 2013 08:00am EDT 

Cigna Corp announced that it has completed its acquisition of Alegis Care, a portfolio company of Triton Pacific Capital Partners. Alegis Care is a multi-specialty, medical health services organization dedicated to creating a comfortable medical home experience for homebound Medicare and Medicaid patients. Alegis Care specializes in serving the chronically ill and elderly with physician services, comprehensive care coordination and a high level of patient care in the safety and comfort of a patient's own home or place of residence. The terms of the deal were not disclosed.  Full Article

Cigna Corp Raises FY 2013 Earnings Guidance
Thursday, 1 Aug 2013 06:00am EDT 

Cigna Corp announced that it has increased its outlook for fiscal 2013 consolidated adjusted income from operations to be in the range of $1.8 billion to $1.9 billion, or $6.25 to $6.65 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $1.9 billion and EPS of $6.50 for fiscal 2013.  Full Article

Cigna Corp Announces Resignation Of CFO-Form 8-K
Wednesday, 17 Jul 2013 05:01pm EDT 

Cigna Corp reported in its Form 8-K that On May 13, 2013, Cigna Corporation (Company) filed a Form 8-K to disclose the resignation of Ralph J. Nicoletti, Executive Vice President and Chief Financial Officer (CFO) of the Company. On July 11, 2013, the Company and Mr. Nicoletti executed an Agreement and Release in connection with his resignation. Under the agreement, Mr. Nicoletti’s resignation as Executive Vice President and Chief Financial Officer (CFO) was effective as of July 12, 2013.  Full Article

Cigna Corp Enters Partnering Agreement With Catamaran Corp
Wednesday, 12 Jun 2013 07:06am EDT 

Cigna Corp announced that it will build on its pharmacy benefits business by entering into a ten-year strategic PBM partnering agreement with Catamaran Corp which combines the customer focus and clinical excellence of Cigna's pharmacy team with the capabilities of Catamaran, and the combined purchasing scale of the two companies. Under the terms of the agreement, Cigna will continue to lead formulary management, clinical and product development and sales and marketing, while also managing all day-to-day customer- and client-facing functions. Cigna will also continue to provide differentiated clinical services to over eight million customers and integration of medical care and disability management with clinical and pharmacy programs. In retaining its direct engagement with physicians and health care professionals, Cigna will build on its commitment to provide better health outcomes for customers.  Full Article

Cigna Corp Issues Long Term EPS Guidance Below analysts' Estimates-Conference Call
Wednesday, 15 May 2013 02:20pm EDT 

Cigna Corp announced that it expect across the board, 10% to 13% annual earnings per share growth over the next three to five years. The Company reported EPS of $5.99 in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $6.45 for fiscal 2013; EPS of $6.96 for fiscal 2014; EPS of $7.74 for fiscal 2015.  Full Article

Cigna Corp Names Thomas A. McCarthy As Chief Financial Officer
Monday, 13 May 2013 04:05pm EDT 

Cigna Corp announced that Thomas A. McCarthy, Vice President of Finance, will succeed Ralph J. Nicoletti, who has elected to leave the Company for personal reasons, as Executive Vice President and Chief Financial Officer. On July 12, 2013, McCarthy will assume the role of Chief Financial Officer and have executive leadership responsibility for all of Cigna`s financial operations and functions, as well as for Cigna`s investment management and strategic planning units. McCarthy and Nicoletti will work together to ensure a seamless transition.  Full Article

Cigna Corp Raises FY 2013 Earnings Guidance
Thursday, 2 May 2013 06:00am EDT 

Cigna Corp raised fiscal 2013 guidance and expects consolidated adjusted income from operations to be in the range of $1.735 billion to $1.865 billion or $6.00 to $6.45 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $1.81 billion and EPS of $6.35 for fiscal 2013.  Full Article

Cigna Corp Declares Dividend Of $0.04 Per Common Share
Thursday, 28 Feb 2013 04:01pm EST 

Cigna Corp announced that board of directors of declared an annual dividend of $0.04 per common share. The dividend is payable on April 10, 2013, to shareholders of record as of March 12, 2013.  Full Article

A.M. Best Affirms Ratings Of Cigna Corp And Its Subsidiaries
Thursday, 14 Feb 2013 12:10pm EST 

A.M. Best Co. announced that it has affirmed the issuer credit rating (ICR) of 'bbb' and debt ratings of Cigna Corp (Cigna) (Philadelphia, PA). Concurrently, A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and ICRs of 'a' of the key life/health subsidiaries of Cigna, as well as its medical health maintenance organizations (HMO) and dental HMO subsidiaries. Additionally, A.M. Best has assigned an FSR of A- (Excellent) and ICRs of 'a-' to the HealthSpring subsidiaries that were acquired by Cigna in January 2012.  Full Article

Cigna Corp Raises FY 2013 Earnings Guidance
Thursday, 7 Feb 2013 06:00am EST 

Cigna Corp raised fiscal 2013 guidance and expects consolidated adjusted income from operations to be in the range of $1.70 billion to $1.83 billion or $5.85 to $6.30 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $1.81 billion for fiscal 2013.  Full Article

Fitch Upgrades Cigna's IDR to 'A-'; Outlook Stable

(The following statement was released by the rating agency) CHICAGO, July 09 (Fitch) Fitch Ratings has upgraded Cigna Corp's (Cigna) long-term IDR to 'A-' from 'BBB+' and unsecured senior debt ratings to 'BBB+' from 'BBB'. In addition, Fitch has upgraded the Insurer Financial Strength (IFS) ratings of various Cigna subsidiaries to 'A+' from 'A'. The Rating Outlook is Stable. A complete list of rating actions is listed below. KEY RATING DRIVERS: The rating upgrade reflects Cigna's strong ope

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