Cigna Corporation’s (CI) Buy Rating Reiterated at Piper Jaffray Companies
Piper Jaffray Companies reissued their buy rating on shares of Cigna Corporation (NYSE:CI) in a research note issued to investors on Sunday. Piper Jaffray Companies currently has a $191.00 target price on the health services provider’s stock.
Other equities research analysts have also recently issued reports about the stock. Bank of America Corp upped their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a buy rating in a report on Friday, June 23rd. UBS AG reiterated a buy rating and issued a $193.00 price objective (up from $186.00) on shares of Cigna Corporation in a report on Thursday, June 22nd. Jefferies Group LLC reiterated a buy rating and issued a $183.00 price objective on shares of Cigna Corporation in a report on Thursday, June 8th. ValuEngine upgraded shares of Cigna Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, Royal Bank of Canada reiterated a buy rating and issued a $177.00 price objective on shares of Cigna Corporation in a report on Tuesday, June 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Cigna Corporation currently has an average rating of Buy and a consensus price target of $182.59.
Cigna Corporation (CI) opened at 181.51 on Friday. The firm has a market cap of $45.70 billion, a PE ratio of 20.94 and a beta of 0.43. The company has a 50-day moving average price of $180.07 and a 200-day moving average price of $165.77. Cigna Corporation has a one year low of $115.03 and a one year high of $188.36.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 earnings per share. Equities analysts predict that Cigna Corporation will post $10.02 earnings per share for the current fiscal year.
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In related news, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total value of $45,761.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Zollars sold 1,232 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The disclosure for this sale can be found here. Insiders have sold 70,653 shares of company stock valued at $12,437,684 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CI. BlackRock Inc. lifted its stake in shares of Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock valued at $2,488,489,000 after buying an additional 16,289,943 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Cigna Corporation by 40.8% in the second quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock valued at $684,413,000 after buying an additional 1,184,632 shares during the period. Waddell & Reed Financial Inc. lifted its stake in shares of Cigna Corporation by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock valued at $256,306,000 after buying an additional 974,747 shares during the period. Wellington Management Group LLP lifted its stake in shares of Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock valued at $1,577,075,000 after buying an additional 913,991 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Cigna Corporation by 7,868.4% in the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock valued at $103,772,000 after buying an additional 699,500 shares during the period. Institutional investors and hedge funds own 87.94% 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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