Cigna Corporation (NYSE:CI) had its target price raised by investment analysts at Jefferies Group LLC from $178.00 to $183.00 in a report issued on Monday, May 15th, StockTargetPrices.com reports. The brokerage currently has a “buy” rating on the health services provider’s stock. Jefferies Group LLC’s target price suggests a potential upside of 8.23% from the company’s previous close.
CI has been the subject of a number of other research reports. Royal Bank of Canada upgraded Cigna Corporation from a “sector perform” rating to an “outperform” rating and set a $172.00 price target for the company in a research report on Thursday, February 16th. Zacks Investment Research downgraded Cigna Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Deutsche Bank AG lifted their price target on Cigna Corporation from $172.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Citigroup Inc. lifted their price target on Cigna Corporation from $139.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, January 23rd. Finally, Bank of America Corporation began coverage on Cigna Corporation in a research report on Monday, March 13th. They set a “buy” rating and a $175.00 price target for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $172.82.
Shares of Cigna Corporation (NYSE:CI) traded up 1.08% on Monday, reaching $169.08. The company’s stock had a trading volume of 2,009,547 shares. The stock has a market cap of $43.29 billion, a P/E ratio of 22.57 and a beta of 0.44. The firm’s 50-day moving average price is $162.47 and its 200-day moving average price is $149.97. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $170.00.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.33. The firm had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $10.11 billion. Cigna Corporation had a return on equity of 16.07% and a net margin of 6.53%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $2.46 EPS. On average, analysts forecast that Cigna Corporation will post $9.73 earnings per share for the current fiscal year.
In other news, insider Jason D. Sadler sold 4,213 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $152.01, for a total transaction of $640,418.13. Following the transaction, the insider now directly owns 36,231 shares of the company’s stock, valued at $5,507,474.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael W. Triplett sold 1,439 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $166.89, for a total value of $240,154.71. Following the transaction, the insider now directly owns 26,199 shares in the company, valued at $4,372,351.11. The disclosure for this sale can be found here. Insiders sold a total of 46,246 shares of company stock worth $7,433,839 over the last ninety days. Insiders own 1.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Rothschild Asset Management Inc. boosted its position in Cigna Corporation by 19.6% in the third quarter. Rothschild Asset Management Inc. now owns 6,039 shares of the health services provider’s stock valued at $787,000 after buying an additional 991 shares during the period. Nikko Asset Management Americas Inc. acquired a new position in Cigna Corporation during the third quarter valued at about $248,000. Bradley Foster & Sargent Inc. CT raised its stake in Cigna Corporation by 31.1% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 25,268 shares of the health services provider’s stock valued at $3,293,000 after buying an additional 6,000 shares in the last quarter. Narwhal Capital Management raised its stake in Cigna Corporation by 1.2% in the third quarter. Narwhal Capital Management now owns 8,300 shares of the health services provider’s stock valued at $1,082,000 after buying an additional 100 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Cigna Corporation by 184.4% in the third quarter. Nordea Investment Management AB now owns 3,292,089 shares of the health services provider’s stock valued at $429,025,000 after buying an additional 2,134,355 shares in the last quarter. 87.05% of the stock is currently 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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