Jefferies Group LLC Raises Cigna Corporation (CI) Price Target to $231.00
Cigna Corporation (NYSE:CI) had its price objective raised by Jefferies Group LLC from $221.00 to $231.00 in a research report released on Friday morning. The brokerage currently has a buy rating on the health services provider’s stock. Jefferies Group also issued estimates for Cigna Corporation’s Q4 2017 earnings at $1.88 EPS, FY2017 earnings at $10.41 EPS, Q1 2018 earnings at $3.22 EPS, Q2 2018 earnings at $3.23 EPS and Q4 2018 earnings at $2.44 EPS.
A number of other research firms have also recently commented on CI. Morgan Stanley increased their price target on Cigna Corporation from $184.00 to $188.00 and gave the company an overweight rating in a research note on Monday, August 7th. Deutsche Bank AG raised their price objective on Cigna Corporation from $180.00 to $190.00 and gave the stock a buy rating in a research note on Monday, August 7th. BidaskClub upgraded Cigna Corporation from a buy rating to a strong-buy rating in a research note on Friday, August 18th. Credit Suisse Group reiterated a buy rating and set a $196.00 price target on shares of Cigna Corporation in a research report on Friday, August 4th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $191.00 price target on shares of Cigna Corporation in a research report on Sunday, September 17th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Cigna Corporation presently has an average rating of Buy and a consensus target price of $201.50.
Shares of Cigna Corporation (CI) traded up $2.80 on Friday, hitting $204.70. The stock had a trading volume of 469,232 shares, compared to its average volume of 1,526,184. The firm has a market capitalization of $49,778.38, a PE ratio of 19.45, a PEG ratio of 1.49 and a beta of 0.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.47. The company had revenue of $10.38 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. equities analysts predict that Cigna Corporation will post 10.39 earnings per share for the current year.
In other Cigna Corporation news, VP Mary T. Hoeltzel sold 525 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total transaction of $93,234.75. Following the sale, the vice president now owns 1,924 shares in the company, valued at approximately $341,683.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael W. Triplett sold 3,700 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $174.96, for a total value of $647,352.00. Following the sale, the insider now owns 21,060 shares in the company, valued at approximately $3,684,657.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,940 shares of company stock valued at $1,419,384. 1.30% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new position in shares of Cigna Corporation in the 1st quarter worth $102,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in Cigna Corporation in the second quarter valued at about $106,000. Saratoga Research & Investment Management purchased a new position in Cigna Corporation in the third quarter valued at about $112,000. Parallel Advisors LLC raised its position in Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 307 shares during the period. Finally, Acrospire Investment Management LLC raised its position in Cigna Corporation by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock valued at $167,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 88.16% 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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