Cigna (CI) Downgraded to Buy at Goldman Sachs Group
Goldman Sachs Group lowered shares of Cigna (NYSE:CI) from a conviction-buy rating to a buy rating in a report published on Friday, The Fly reports.
A number of other research analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Cigna from a strong sell rating to a sell rating in a research note on Thursday, April 25th. Morgan Stanley dropped their target price on shares of Cigna from $304.00 to $299.00 and set an overweight rating on the stock in a research note on Tuesday, February 5th. Wells Fargo & Co dropped their target price on shares of Cigna from $221.00 to $200.00 and set a market perform rating on the stock in a research note on Thursday, January 3rd. Credit Suisse Group reiterated a buy rating and issued a $250.00 target price on shares of Cigna in a research note on Monday, January 7th. Finally, Zacks Investment Research cut shares of Cigna from a strong-buy rating to a hold rating in a research note on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $225.62.
Cigna stock opened at $158.80 on Friday. Cigna has a fifty-two week low of $141.95 and a fifty-two week high of $226.60. The stock has a market cap of $58.08 billion, a P/E ratio of 11.17, a PEG ratio of 0.74 and a beta of 0.69. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.42 and a current ratio of 0.42.
The firm also recently declared a special dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, March 11th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s dividend payout ratio (DPR) is currently 0.28%.
In other Cigna news, insider Brian C. Evanko purchased 2,000 shares of the stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $163.40 per share, with a total value of $326,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Zollars sold 272 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total transaction of $45,812.96. The disclosure for this sale can be found here. In the last three months, insiders sold 10,420 shares of company stock worth $1,886,122. Insiders own 0.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in Cigna by 42,687.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after acquiring an additional 31,678,514 shares during the period. BlackRock Inc. increased its holdings in Cigna by 59.4% during the 4th quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock worth $5,107,369,000 after acquiring an additional 10,021,719 shares during the period. Norges Bank bought a new stake in Cigna during the 4th quarter worth approximately $737,238,000. Macquarie Group Ltd. increased its holdings in Cigna by 1,413.5% during the 4th quarter. Macquarie Group Ltd. now owns 3,711,240 shares of the health services provider’s stock worth $704,890,000 after acquiring an additional 3,466,030 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Cigna by 179.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,456,861 shares of the health services provider’s stock worth $846,447,000 after acquiring an additional 2,860,291 shares during the period. 88.34% of the stock is currently owned by institutional investors.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
Recommended Story: How to execute a trade ex-dividend strategy?
Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.