Brokerages Set Cigna Corporation (CI) Target Price at $180.76
Cigna Corporation (NYSE:CI) has received a consensus rating of “Buy” from the twenty-one brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $180.76.
A number of equities analysts have commented on the stock. UBS AG reissued a “buy” rating and issued a $186.00 price objective (up from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. Jefferies Group LLC reissued a “buy” rating and issued a $183.00 price objective on shares of Cigna Corporation in a research note on Thursday, June 8th. Deutsche Bank AG lifted their price objective on shares of Cigna Corporation from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Royal Bank Of Canada lifted their price objective on shares of Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Bank of America Corporation lifted their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, June 23rd.
Shares of Cigna Corporation (NYSE:CI) traded down 0.26% during midday trading on Tuesday, reaching $179.30. The company had a trading volume of 844,421 shares. Cigna Corporation has a one year low of $115.03 and a one year high of $181.15. The company has a 50 day moving average price of $175.07 and a 200-day moving average price of $161.41. The firm has a market capitalization of $45.14 billion, a P/E ratio of 20.69 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The company had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the firm posted $1.98 EPS. Cigna Corporation’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts anticipate that Cigna Corporation will post $10.03 EPS for the current fiscal year.
In other news, VP Mary T. Hoeltzel sold 500 shares of the business’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 approximately $408,248.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mary T. Hoeltzel sold 525 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $177.59, for a total transaction of $93,234.75. Following the completion of the sale, the vice president now owns 1,924 shares of the company’s stock, valued at approximately $341,683.16. The disclosure for this sale can be found here. Insiders have sold a total of 232,008 shares of company stock valued at $39,828,200 in the last quarter. 1.30% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CI. Quantitative Systematic Strategies LLC acquired a new stake in Cigna Corporation during the first quarter valued at approximately $556,000. Columbus Circle Investors raised its stake in Cigna Corporation by 7.0% in the first quarter. Columbus Circle Investors now owns 44,421 shares of the health services provider’s stock valued at $6,507,000 after buying an additional 2,906 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Cigna Corporation during the first quarter valued at approximately $689,000. Candriam Luxembourg S.C.A. raised its stake in Cigna Corporation by 20.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 15,839 shares of the health services provider’s stock valued at $2,320,000 after buying an additional 2,672 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Cigna Corporation by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,847 shares of the health services provider’s stock valued at $938,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.
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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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