Cigna Corporation (CI) Earns Outperform Rating from Analysts at Credit Suisse Group AG

Stock analysts at Credit Suisse Group AG started coverage on shares of Cigna Corporation (NYSE:CI) in a report issued on Thursday. The firm set an “outperform” rating and a $219.00 price target on the health services provider’s stock. Credit Suisse Group AG’s price target would indicate a potential upside of 11.04% from the stock’s previous close.

Several other analysts have also issued reports on CI. Deutsche Bank AG boosted their target price on Cigna Corporation from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. ValuEngine lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Royal Bank Of Canada restated a “buy” rating and issued a $182.00 target price on shares of Cigna Corporation in a research note on Monday, July 24th. Piper Jaffray Companies restated a “buy” rating and issued a $175.00 target price on shares of Cigna Corporation in a research note on Friday, July 28th. Finally, BidaskClub lowered Cigna Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $194.88.

Cigna Corporation (NYSE:CI) last issued its earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.47. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share.

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In other news, VP Mary T. Hoeltzel sold 525 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total value of $93,234.75. Following the completion of the transaction, the vice president now directly owns 1,924 shares in the company, valued at approximately $341,683.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Zollars sold 1,232 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total value of $230,667.36. The disclosure for this sale can be found here. Insiders sold a total of 45,696 shares of company stock valued at $8,070,481 over the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Saratoga Research & Investment Management purchased a new position in shares of Cigna Corporation in the 3rd quarter worth about $112,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Cigna Corporation in the 2nd quarter worth about $106,000. American Beacon Advisors Inc. purchased a new position in shares of Cigna Corporation in the 1st quarter worth about $102,000. Parallel Advisors LLC boosted its holdings in shares of Cigna Corporation by 62.3% in the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after purchasing an additional 307 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted its holdings in shares of Cigna Corporation by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock worth $167,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 88.23% 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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