Cigna Corporation (CI) Receives Average Rating of “Buy” from Analysts
Shares of Cigna Corporation (NYSE:CI) have been assigned a consensus recommendation of “Buy” from the twenty-one analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $180.76.
CI has been the subject of several recent research reports. Deutsche Bank AG raised their price objective on shares of Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Morgan Stanley raised their price objective on shares of Cigna Corporation from $184.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. BidaskClub raised shares of Cigna Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday. CIBC raised their price objective on shares of Cigna Corporation from $174.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $174.00 price objective (up previously from $163.00) on shares of Cigna Corporation in a research note on Monday, June 19th.
In other Cigna Corporation news, CEO David Cordani sold 153,168 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the sale, the chief executive officer now owns 421,162 shares of the company’s stock, valued at $71,681,772.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa R. Bacus sold 11,455 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $161.57, for a total transaction of $1,850,784.35. Following the sale, the executive vice president now directly owns 24,753 shares in the company, valued at approximately $3,999,342.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,463 shares of company stock worth $41,678,984. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Capstone Investment Advisors Netherlands B.V. bought a new stake in Cigna Corporation during the second quarter worth $106,000. American Beacon Advisors Inc. bought a new stake in Cigna Corporation during the first quarter worth $102,000. Baystate Wealth Management LLC boosted its stake in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock worth $116,000 after buying an additional 628 shares during the last quarter. Founders Capital Management bought a new stake in Cigna Corporation during the first quarter worth $117,000. Finally, Parallel Advisors LLC boosted its stake in Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after buying an additional 307 shares during the last quarter. 87.61% of the stock is currently owned by institutional investors.
Shares of Cigna Corporation (CI) traded up 1.03% during midday trading on Tuesday, reaching $179.82. 1,000,321 shares of the company were exchanged. The firm has a 50-day moving average of $173.97 and a 200 day moving average of $160.69. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $181.00. The firm has a market capitalization of $45.27 billion, a P/E ratio of 20.75 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last announced its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.48 by $0.43. The company had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. Cigna Corporation’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share. On average, equities research analysts expect that Cigna Corporation will post $10.03 EPS for the current year.
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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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