Morgan Stanley Boosts Cigna Corporation (CI) Price Target to $188.00

Cigna Corporation (NYSE:CI) had its price target boosted by Morgan Stanley from $184.00 to $188.00 in a research report report published on Monday. They currently have an overweight rating on the health services provider’s stock.

Several other research analysts also recently issued reports on the stock. Jefferies Group LLC reissued a buy rating and set a $178.00 price objective (up from $172.00) on shares of Cigna Corporation in a research report on Sunday, April 23rd. Zacks Investment Research raised shares of Cigna Corporation from a hold rating to a buy rating and set a $175.00 price objective on the stock in a research report on Tuesday, April 25th. Stifel Nicolaus raised their price objective on shares of Cigna Corporation from $170.00 to $175.00 and gave the stock a buy rating in a research report on Friday, May 5th. Deutsche Bank AG raised their price objective on shares of Cigna Corporation from $172.00 to $175.00 and gave the stock a buy rating in a research report on Wednesday, May 10th. Finally, Royal Bank Of Canada raised their price objective on shares of Cigna Corporation from $172.00 to $177.00 and gave the stock an outperform rating in a research report on Monday, May 15th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Cigna Corporation presently has a consensus rating of Buy and a consensus target price of $179.89.

Cigna Corporation (CI) traded down 0.01% on Monday, reaching $175.97. 161,978 shares of the company were exchanged. The stock has a 50-day moving average price of $170.76 and a 200 day moving average price of $157.68. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $176.00. The stock has a market capitalization of $45.05 billion, a price-to-earnings ratio of 23.49 and a beta of 0.46.

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 Thomson Reuters’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.58%. The company had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period last year, the firm posted $1.98 EPS. Cigna Corporation’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts forecast that Cigna Corporation will post $9.95 earnings per share for the current year.

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In related news, VP Mary T. Hoeltzel sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total value of $83,350.00. Following the completion of the sale, the vice president now owns 2,449 shares in the company, valued at $408,248.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicole S. Jones sold 20,312 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the completion of the sale, the executive vice president now owns 44,737 shares of the company’s stock, valued at approximately $7,159,709.48. The disclosure for this sale can be found here. Insiders sold 219,558 shares of company stock valued at $37,135,665 in the last quarter. Company insiders own 1.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Fulton Bank N.A. bought a new stake in shares of Cigna Corporation during the first quarter valued at approximately $223,000. Gulf International Bank UK Ltd boosted its stake in shares of Cigna Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 79,827 shares of the health services provider’s stock valued at $11,693,000 after buying an additional 1,085 shares during the period. National Pension Service boosted its stake in shares of Cigna Corporation by 2.1% in the first quarter. National Pension Service now owns 194,155 shares of the health services provider’s stock valued at $28,657,000 after buying an additional 3,935 shares during the period. Bank of Montreal Can boosted its stake in shares of Cigna Corporation by 21.8% in the first quarter. Bank of Montreal Can now owns 267,090 shares of the health services provider’s stock valued at $39,126,000 after buying an additional 47,800 shares during the period. Finally, Private Trust Co. NA bought a new stake in shares of Cigna Corporation during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 86.91% of the company’s stock.

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.

Analyst Recommendations for Cigna Corporation (NYSE:CI)

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