Cigna Corporation (CI) PT Raised to $223.00 at Morgan Stanley
Cigna Corporation (NYSE:CI) had its target price increased by stock analysts at Morgan Stanley from $195.00 to $223.00 in a research note issued to investors on Friday. The firm currently has an “overweight” rating on the health services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 10.45% from the stock’s previous close.
A number of other brokerages have also issued reports on CI. Jefferies Group LLC boosted their price target on Cigna Corporation from $221.00 to $231.00 and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price target (up previously from $185.00) on shares of Cigna Corporation in a report on Friday. Credit Suisse Group assumed coverage on Cigna Corporation in a report on Thursday. They issued an “outperform” rating and a $219.00 price target for the company. Zacks Investment Research upgraded Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a report on Monday, October 9th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $191.00 target price on shares of Cigna Corporation in a report on Sunday, September 17th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $201.50.
Shares of Cigna Corporation (NYSE CI) traded up $3.51 during midday trading on Friday, hitting $201.90. The company had a trading volume of 1,238,151 shares, compared to its average volume of 1,508,257. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $49,778.45, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.47. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. Cigna Corporation’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. equities research analysts predict that Cigna Corporation will post 10.39 EPS for the current year.
In other news, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total transaction of $45,761.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason D. Sadler sold 37,756 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $176.16, for a total value of $6,651,096.96. Following the sale, the insider now owns 47,844 shares of the company’s stock, valued at approximately $8,428,199.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,696 shares of company stock valued at $8,070,481. Company insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Saratoga Research & Investment Management acquired a new position in shares of Cigna Corporation in the 3rd quarter valued at $112,000. Riverhead Capital Management LLC increased its position in shares of Cigna Corporation by 159.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after acquiring an additional 3,386 shares during the period. Pacer Advisors Inc. increased its position in shares of Cigna Corporation by 3.0% in the 2nd quarter. Pacer Advisors Inc. now owns 5,581 shares of the health services provider’s stock valued at $934,000 after acquiring an additional 165 shares during the period. Norinchukin Bank The increased its position in shares of Cigna Corporation by 6.4% in the 2nd quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock valued at $2,974,000 after acquiring an additional 1,062 shares during the period. Finally, Seven Eight Capital LP increased its position in shares of Cigna Corporation by 504.4% in the 2nd quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock valued at $4,553,000 after acquiring an additional 22,700 shares during the period. Hedge funds and other institutional investors own 88.23% of the company’s stock.
Cigna Corporation Company Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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