CIGNA (CI) PT Raised to $237.00

CIGNA (NYSE:CI) had its target price hoisted by investment analysts at Oppenheimer to $237.00 in a research report issued on Friday. The firm presently has an “outperform” rating on the health services provider’s stock. Oppenheimer’s target price would indicate a potential upside of 15.92% from the company’s previous close. Oppenheimer also issued estimates for CIGNA’s FY2017 earnings at $10.46 EPS, Q4 2018 earnings at $2.60 EPS and Q4 2019 earnings at $2.82 EPS.

A number of other analysts have also recently weighed in on CI. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research report on Monday, October 9th. Jefferies Group upped their price target on CIGNA from $201.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, October 13th. BMO Capital Markets started coverage on CIGNA in a research report on Monday, October 16th. They issued a “market perform” rating and a $210.00 price target on the stock. Credit Suisse Group started coverage on CIGNA in a research report on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price target (up from $185.00) on shares of CIGNA in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $210.12.

Shares of CIGNA (CI) opened at $204.46 on Friday. CIGNA has a 1 year low of $141.93 and a 1 year high of $227.13. The firm has a market capitalization of $50,409.62, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 1.34 and a beta of 0.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.37 and a quick ratio of 0.39.

CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The firm had revenue of $10.53 billion for the quarter, compared to analysts’ expectations of $10.28 billion. During the same period in the prior year, the business posted $1.87 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. equities research analysts anticipate that CIGNA will post 12.42 EPS for the current fiscal year.

In other news, CAO Mary T. Hoeltzel sold 575 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $197.03, for a total transaction of $113,292.25. Following the transaction, the chief accounting officer now owns 2,499 shares of the company’s stock, valued at $492,377.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Muney sold 15,345 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $200.80, for a total value of $3,081,276.00. Following the transaction, the executive vice president now directly owns 28,457 shares in the company, valued at approximately $5,714,165.60. The disclosure for this sale can be found here. Insiders have sold 75,655 shares of company stock worth $15,503,365 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CI. Saratoga Research & Investment Management acquired a new position in shares of CIGNA during the third quarter valued at $112,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of CIGNA during the fourth quarter valued at $122,000. Horan Capital Advisors LLC. acquired a new position in shares of CIGNA during the third quarter valued at $123,000. Cerebellum GP LLC acquired a new position in shares of CIGNA during the fourth quarter valued at $127,000. Finally, Grove Bank & Trust lifted its stake in shares of CIGNA by 171.9% during the third quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after acquiring an additional 617 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for CIGNA (NYSE:CI)

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