Citigroup Inc. Boosts Cigna Corporation (CI) Price Target to $231.00

Cigna Corporation (NYSE:CI) had its price objective upped by Citigroup Inc. from $198.00 to $231.00 in a research note released on Friday. The firm currently has a buy rating on the health services provider’s stock.

Several other research analysts also recently weighed in on CI. Deutsche Bank AG upped their price target on Cigna Corporation from $175.00 to $180.00 and gave the stock a buy rating in a research note on Thursday, July 13th. Credit Suisse Group reaffirmed an outperform rating and set a $193.00 price objective (up from $190.00) on shares of Cigna Corporation in a report on Friday, July 14th. ValuEngine cut Cigna Corporation from a buy rating to a hold rating in a report on Thursday, July 20th. Royal Bank Of Canada reaffirmed a buy rating and set a $182.00 price objective on shares of Cigna Corporation in a report on Monday, July 24th. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $175.00 price objective on shares of Cigna Corporation in a report on Friday, July 28th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Cigna Corporation has an average rating of Buy and a consensus price target of $201.50.

Cigna Corporation (NYSE CI) traded up $2.37 during mid-day trading on Friday, reaching $204.27. The company’s stock had a trading volume of 373,859 shares, compared to its average volume of 1,526,184. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $49,778.38, a P/E ratio of 19.45, a P/E/G ratio of 1.49 and a beta of 0.49.

Cigna Corporation (NYSE:CI) last posted its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.47. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.17 billion. During the same period in the prior year, the company posted $1.94 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. sell-side analysts expect that Cigna Corporation will post 10.39 EPS for the current fiscal year.

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In other Cigna Corporation news, VP Mary T. Hoeltzel sold 525 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total value of $93,234.75. Following the sale, the vice president now owns 1,924 shares in the company, valued at $341,683.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,940 shares of company stock worth $1,419,384. Insiders own 1.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Saratoga Research & Investment Management purchased a new stake in Cigna Corporation in the third quarter worth $112,000. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Cigna Corporation during the 2nd quarter worth $106,000. American Beacon Advisors Inc. bought a new position in shares of Cigna Corporation during the 1st quarter worth $102,000. Parallel Advisors LLC grew its position in shares of Cigna Corporation by 62.3% during the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after buying an additional 307 shares in the last quarter. Finally, Acrospire Investment Management LLC grew its position in shares of Cigna Corporation by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock worth $167,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

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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