CIGNA's 4Q Not Strong, Citigroup Waiting To Hear On Pension Liability

Citigroup has published a research report on CIGNA Corporation CI after finding the company's 4Q not as strong as analysts would have preferred. In the report, Citigroup writes "The company reported operating earnings of $1.15 per share (versus the $1.00 consensus), but results included a total of $52 million after-tax ($0.19 per share) of favorable one-time items, while the company benefited from a much lower than normal tax rate in several segments. Unless CIGNA discloses a lot of one-time fourth quarter SG&A spending, it appears the company's run rate earnings missed consensus in the quarter." Citigroup maintains its Hold rating and $42 price target. CIGNA Corporation closed yesterday at $42.26.