Royal Bank Of Canada Reaffirms Outperform Rating for Cigna Corporation (CI)
Royal Bank Of Canada restated their outperform rating on shares of Cigna Corporation (NYSE:CI) in a research note published on Friday morning, MarketBeat Ratings reports. The firm currently has a $220.00 target price on the health services provider’s stock, up from their prior target price of $185.00.
A number of other equities analysts have also recently issued reports on the company. Piper Jaffray Companies reiterated a buy rating and issued a $191.00 price objective on shares of Cigna Corporation in a report on Sunday, September 17th. ValuEngine cut Cigna Corporation from a buy rating to a hold rating in a report on Thursday, July 20th. 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. Credit Suisse Group restated an outperform rating and set a $193.00 target price (up from $190.00) on shares of Cigna Corporation in a report on Friday, July 14th. Finally, Deutsche Bank AG increased their target price on Cigna Corporation from $175.00 to $180.00 and gave the company a buy rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $201.50.
Cigna Corporation (CI) traded up $2.24 on Friday, hitting $204.14. The stock had a trading volume of 568,199 shares, compared to its average volume of 1,526,184. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. The stock 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.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.47. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.17 billion. During the same period in the prior year, the business earned $1.94 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. equities analysts anticipate that Cigna Corporation will post 10.39 earnings per share for the current fiscal year.
In other Cigna Corporation news, Director William D. Zollars sold 1,232 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total transaction of $230,667.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. Insiders have sold a total of 7,940 shares of company stock valued at $1,419,384 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Saratoga Research & Investment Management bought a new position in shares of Cigna Corporation in the 3rd quarter worth approximately $112,000. Riverhead Capital Management LLC raised 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 worth $923,000 after acquiring an additional 3,386 shares in the last quarter. Pacer Advisors Inc. raised 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 worth $934,000 after acquiring an additional 165 shares in the last quarter. Norinchukin Bank The raised 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 worth $2,974,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Seven Eight Capital LP raised 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 worth $4,553,000 after acquiring an additional 22,700 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.
About Cigna Corporation
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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