According to Zacks, “Cigna’s pending merger with Anthem is facing friction with the regulators and the company is now engaged in a legal tussle of the same. The deal, which would have helped the company to gain the leading position in the industry, now remains uncertain. Forex volatility, share buyback suspension, merger-related charges will drain the bottom line going forward. An underperforming Disability and life business also raises concerns. Also restriction imposed by the CMS on the sale of Medicare Advantage plan is a headwind. The company's stock has underperformed relative to the Zacks categorised Insurance Multiline industry. Nonetheless, the company is poised for long-term growth from its superior performing Global Supplemental business, growing Government business and increasing membership. A strong capital position is another positive. “
A number of other research firms have also commented on CI. Piper Jaffray Companies began coverage on shares of Cigna Corporation in a report on Wednesday, January 4th. They set an overweight rating and a $170.00 price target for the company. Evercore ISI began coverage on shares of Cigna Corporation in a report on Thursday, September 22nd. They set a hold rating and a $134.00 price target for the company. Leerink Swann reiterated a buy rating and set a $155.00 price target on shares of Cigna Corporation in a report on Monday, September 26th. Finally, Jefferies Group reiterated a buy rating and set a $149.00 price target (down from $153.00) on shares of Cigna Corporation in a report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $158.08.
Cigna Corporation (NYSE:CI) traded up 1.36% on Tuesday, hitting $142.14. 891,452 shares of the company’s stock were exchanged. The stock has a market cap of $36.49 billion, a P/E ratio of 19.32 and a beta of 0.54. The firm has a 50 day moving average price of $137.00 and a 200-day moving average price of $130.98. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $148.99.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.03. Cigna Corporation had a net margin of 4.87% and a return on equity of 16.17%. The company earned $9.90 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the business posted $2.28 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Analysts predict that Cigna Corporation will post $7.98 earnings per share for the current fiscal year.
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In other Cigna Corporation news, insider Jason D. Sadler sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $138.10, for a total transaction of $276,200.00. Following the transaction, the insider now owns 32,019 shares in the company, valued at approximately $4,421,823.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason D. Sadler sold 4,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $121.80, for a total transaction of $487,200.00. Following the transaction, the insider now owns 34,019 shares in the company, valued at approximately $4,143,514.20. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CI. Acrospire Investment Management LLC boosted its position in Cigna Corporation by 166.7% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $102,000 after buying an additional 500 shares in the last quarter. Live Your Vision LLC bought a new position in Cigna Corporation during the third quarter valued at about $113,000. Invictus RG boosted its position in Cigna Corporation by 1,056.8% in the second quarter. Invictus RG now owns 1,018 shares of the company’s stock valued at $130,000 after buying an additional 930 shares in the last quarter. SRB Corp boosted its position in Cigna Corporation by 5.8% in the third quarter. SRB Corp now owns 1,181 shares of the company’s stock valued at $154,000 after buying an additional 65 shares in the last quarter. Finally, M&R Capital Management Inc. bought a new position in Cigna Corporation during the second quarter valued at about $153,000. Institutional investors and hedge funds own 84.55% 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, Other Operations and Corporate.
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