Credit Suisse Group reissued their outperform rating on shares of Cigna Corporation (NYSE:CI) in a report released on Friday morning. The firm currently has a $193.00 price target on the health services provider’s stock, up from their prior price target of $190.00.
Several other research analysts have also recently commented on the stock. Deutsche Bank AG raised their target price on shares of Cigna Corporation from $175.00 to $180.00 and gave the stock a buy rating in a report on Thursday. Bank of America Corporation lifted their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a buy rating in a research note on Friday, June 23rd. UBS AG reissued a buy rating and issued a $193.00 price objective (up from $186.00) on shares of Cigna Corporation in a research note on Thursday, June 22nd. Royal Bank Of Canada lifted their price objective on shares of Cigna Corporation from $177.00 to $182.00 and gave the company an outperform rating in a research note on Thursday, June 22nd. Finally, Wells Fargo & Company reissued a market perform rating and issued a $174.00 price objective (up from $163.00) on shares of Cigna Corporation in a research note on Monday, June 19th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $176.33.
Cigna Corporation (CI) traded up 0.22% during midday trading on Friday, hitting $174.19. The stock had a trading volume of 1,019,027 shares. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 23.26 and a beta of 0.46. The company’s 50 day moving average is $164.95 and its 200 day moving average is $152.14. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $174.40.
Cigna Corporation (NYSE:CI) last announced its earnings results on Friday, May 5th. The health services provider reported $2.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The company had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $10.11 billion. During the same period last year, the firm earned $2.46 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Cigna Corporation will post $9.78 earnings per share for the current fiscal year.
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In other Cigna Corporation news, CEO David Cordani sold 153,168 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the sale, the chief executive officer now owns 421,162 shares of the company’s stock, valued at $71,681,772.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicole S. Jones sold 20,312 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the sale, the executive vice president now directly owns 44,737 shares in the company, valued at approximately $7,159,709.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,201 shares of company stock worth $32,862,614. Insiders own 1.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of CI. BlackRock Inc. boosted its stake in Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after buying an additional 16,289,943 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cigna Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,706,266 shares of the health services provider’s stock worth $2,447,301,000 after buying an additional 570,241 shares during the period. Dodge & Cox acquired a new position in shares of Cigna Corporation during the fourth quarter worth approximately $1,929,534,000. State Street Corp raised its position in shares of Cigna Corporation by 1.7% in the first quarter. State Street Corp now owns 11,137,018 shares of the health services provider’s stock worth $1,631,451,000 after buying an additional 190,323 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after buying an additional 913,991 shares during the period. 86.87% of the stock is currently owned by hedge funds and other institutional investors.
Cigna Corporation 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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