Cigna (NYSE:CI) PT Raised to $318.00

Cigna (NYSE:CIGet Rating) had its price target hoisted by research analysts at Morgan Stanley from $296.00 to $318.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the health services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.43% from the stock’s previous close.

A number of other research analysts have also issued reports on CI. Stephens lifted their target price on Cigna from $265.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. Mizuho lifted their price target on shares of Cigna from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Loop Capital began coverage on Cigna in a research note on Thursday, June 16th. They set a “hold” rating and a $270.00 price objective for the company. The Goldman Sachs Group boosted their target price on Cigna from $273.00 to $311.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 9th. Finally, Raymond James lifted their price target on Cigna from $275.00 to $300.00 in a research note on Tuesday, May 10th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.58.

Cigna Stock Down 0.1 %

Shares of Cigna stock opened at $290.61 on Wednesday. Cigna has a 1-year low of $191.74 and a 1-year high of $293.50. The company has a market capitalization of $88.67 billion, a P/E ratio of 17.33, a PEG ratio of 1.14 and a beta of 0.73. The business’s fifty day moving average price is $268.95 and its two-hundred day moving average price is $254.27. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.72.

Cigna (NYSE:CIGet Rating) last announced its earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.62 by $0.60. The firm had revenue of $45.48 billion during the quarter, compared to analyst estimates of $44.34 billion. Cigna had a net margin of 3.05% and a return on equity of 15.91%. Cigna’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.24 EPS. As a group, research analysts forecast that Cigna will post 22.98 EPS for the current year.

Insider Transactions at Cigna

In other Cigna news, EVP Paul A. Sanford sold 374 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $285.00, for a total value of $106,590.00. Following the completion of the sale, the executive vice president now directly owns 9,121 shares of the company’s stock, valued at approximately $2,599,485. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Paul A. Sanford sold 374 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $285.00, for a total value of $106,590.00. Following the completion of the transaction, the executive vice president now directly owns 9,121 shares in the company, valued at $2,599,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric P. Palmer sold 6,521 shares of Cigna stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $275.00, for a total transaction of $1,793,275.00. Following the sale, the chief executive officer now owns 39,978 shares in the company, valued at approximately $10,993,950. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,898 shares of company stock worth $9,163,758. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Congress Wealth Management LLC DE bought a new stake in Cigna during the fourth quarter worth about $359,000. Envestnet Asset Management Inc. raised its position in Cigna by 1.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 191,267 shares of the health services provider’s stock valued at $43,921,000 after purchasing an additional 2,685 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Cigna in the fourth quarter worth $410,000. North Star Investment Management Corp. grew its holdings in Cigna by 105.9% during the 4th quarter. North Star Investment Management Corp. now owns 280 shares of the health services provider’s stock worth $64,000 after acquiring an additional 144 shares during the last quarter. Finally, Principal Street Partners LLC acquired a new stake in Cigna in the 4th quarter valued at about $218,000. Institutional investors own 88.57% of the company’s stock.

Cigna Company Profile

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Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

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Analyst Recommendations for Cigna (NYSE:CI)

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