Cigna (NYSE:CI – Get 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.
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
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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