Royal Bank Of Canada reaffirmed their buy rating on shares of Cigna Corporation (NYSE:CI) in a research note issued to investors on Monday, July 24th. The firm currently has a $182.00 price target on the health services provider’s stock.
A number of other equities analysts have also issued reports on CI. UBS AG reissued a buy rating and set a $186.00 price target (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation raised their price target on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a buy rating in a research report on Friday, June 23rd. Jefferies Group LLC reissued a buy rating and set a $183.00 price target on shares of Cigna Corporation in a research report on Thursday, June 8th. Zacks Investment Research lowered shares of Cigna Corporation from a hold rating to a sell rating in a research report on Wednesday, April 5th. Finally, ValuEngine lowered shares of Cigna Corporation from a buy rating to a hold rating in a report on Thursday, July 20th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cigna Corporation presently has an average rating of Buy and an average price target of $180.44.
Cigna Corporation (NYSE CI) opened at 177.03 on Monday. The company has a 50-day moving average of $173.66 and a 200 day moving average of $160.28. The company has a market capitalization of $44.57 billion, a P/E ratio of 20.43 and a beta of 0.46. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $181.00.
Cigna Corporation (NYSE:CI) last released its earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.43. The company had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. Cigna Corporation’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business earned $1.98 EPS. Equities research analysts forecast that Cigna Corporation will post $10.03 earnings per share for the current fiscal year.
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In other Cigna Corporation news, VP Mary T. Hoeltzel sold 525 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $177.59, for a total value of $93,234.75. Following the transaction, the vice president now owns 1,924 shares of the company’s stock, valued at $341,683.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa R. Bacus sold 2,236 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total transaction of $402,368.20. Following the sale, the executive vice president now owns 18,501 shares in the company, valued at $3,329,254.95. The disclosure for this sale can be found here. Insiders sold 243,463 shares of company stock worth $41,678,984 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CI. Atria Investments LLC raised its stake in shares of Cigna Corporation by 18.5% in the first quarter. Atria Investments LLC now owns 2,689 shares of the health services provider’s stock worth $394,000 after buying an additional 419 shares during the period. Parametrica Management Ltd acquired a new stake in shares of Cigna Corporation during the first quarter worth about $712,000. Private Trust Co. NA purchased a new stake in Cigna Corporation during the first quarter worth $205,000. Bank of Montreal Can raised its stake in 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 worth $39,126,000 after buying an additional 47,800 shares during the last quarter. Finally, National Pension Service raised its stake in Cigna Corporation by 2.1% in the first quarter. National Pension Service now owns 194,155 shares of the health services provider’s stock worth $28,657,000 after buying an additional 3,935 shares during the last quarter. Institutional investors own 87.61% 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.
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