Cigna Corporation (CI) Receives $200.67 Average Price Target from Analysts

Cigna Corporation (NYSE:CI) has been given an average recommendation of “Buy” by the eighteen analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $200.67.

CI has been the subject of several recent analyst reports. Deutsche Bank raised their target price on Cigna from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Morgan Stanley raised their target price on Cigna from $184.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Citigroup raised their target price on Cigna from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research cut Cigna from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $185.00 price target on shares of Cigna in a research report on Wednesday, August 9th.

In related news, EVP Alan Muney sold 15,345 shares of Cigna stock in a transaction on Monday, November 27th. The stock was sold at an average price of $200.80, for a total value of $3,081,276.00. Following the completion of the transaction, the executive vice president now directly owns 28,457 shares in the company, valued at $5,714,165.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher J. Hocevar sold 8,387 shares of Cigna stock in a transaction on Monday, November 27th. The shares were sold at an average price of $200.32, for a total value of $1,680,083.84. Following the completion of the transaction, the insider now owns 12,363 shares of the company’s stock, valued at $2,476,556.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,203 shares of company stock valued at $7,211,251. 1.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CI. Vanguard Group Inc. increased its position in shares of Cigna by 2.5% during the second quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock worth $2,867,514,000 after purchasing an additional 424,469 shares in the last quarter. FMR LLC increased its position in shares of Cigna by 6.7% during the second quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after purchasing an additional 432,978 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cigna by 40.8% during the second quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after purchasing an additional 1,184,632 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Cigna by 4.8% during the third quarter. Ameriprise Financial Inc. now owns 3,776,414 shares of the health services provider’s stock worth $705,889,000 after purchasing an additional 171,712 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Cigna by 5.2% during the second quarter. TIAA CREF Investment Management LLC now owns 3,655,875 shares of the health services provider’s stock worth $611,957,000 after purchasing an additional 180,310 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Cigna (NYSE:CI) traded down $3.32 during mid-day trading on Thursday, reaching $208.41. The company’s stock had a trading volume of 1,442,418 shares, compared to its average volume of 1,208,917. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $51,383.49, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. Cigna has a one year low of $131.03 and a one year high of $212.46.

Cigna (NYSE:CI) last posted its earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.47. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.17 billion. Cigna had a return on equity of 18.85% and a net margin of 5.74%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 earnings per share. analysts predict that Cigna will post 10.34 EPS for the current fiscal year.

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About Cigna

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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