CIGNA (NYSE:CI) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.
Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $191.00 price target on shares of CIGNA in a research note on Sunday, September 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price target (up previously from $185.00) on shares of CIGNA in a research note on Friday, November 3rd. Credit Suisse Group began coverage on shares of CIGNA in a research note on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 price target on the stock. Morgan Stanley boosted their price target on shares of CIGNA from $195.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Finally, Jefferies Group boosted their price target on shares of CIGNA from $201.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $202.56.
CIGNA (CI) traded down $2.15 on Friday, hitting $203.09. 731,119 shares of the company were exchanged, compared to its average volume of 1,207,109. 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 has a 52 week low of $133.11 and a 52 week high of $212.46. The stock has a market cap of $50,071.84, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50.
CIGNA (NYSE:CI) last released its earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.47. CIGNA had a net margin of 5.74% and a return on equity of 18.85%. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.17 billion. During the same quarter in the previous year, the company earned $1.94 EPS. CIGNA’s revenue for the quarter was up 5.1% on a year-over-year basis. equities research analysts anticipate that CIGNA will post 10.34 EPS for the current year.
In other news, Chairman Isaiah Harris, Jr. sold 212 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $209.35, for a total value of $44,382.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Muney sold 15,345 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $200.80, for a total transaction of $3,081,276.00. Following the completion of the sale, the executive vice president now owns 28,457 shares in the company, valued at $5,714,165.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,936 shares of company stock worth $6,979,204. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of CI. Saratoga Research & Investment Management bought a new position in CIGNA during the 3rd quarter valued at about $112,000. Riverhead Capital Management LLC grew its holdings in CIGNA by 159.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after purchasing an additional 3,386 shares during the last quarter. Norinchukin Bank The grew its holdings in CIGNA by 6.4% during the 2nd quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock valued at $2,974,000 after purchasing an additional 1,062 shares during the last quarter. Seven Eight Capital LP grew its holdings in CIGNA by 504.4% during the 2nd quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock valued at $4,553,000 after purchasing an additional 22,700 shares during the last quarter. Finally, South State Corp bought a new position in CIGNA during the 2nd quarter valued at about $502,000. Hedge funds and other institutional investors own 87.74% of the company’s stock.
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CIGNA 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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