Equities researchers at Credit Suisse Group started coverage on shares of Cigna Corporation (NYSE:CI) in a research note issued on Thursday, November 2nd. The firm set an “outperform” rating and a $219.00 price target on the health services provider’s stock. Credit Suisse Group’s target price would suggest a potential upside of 11.09% from the company’s previous close.
CI has been the topic of a number of other reports. ValuEngine lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Citigroup Inc. boosted their target price on Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 target price (down from $199.00) on shares of Cigna Corporation in a research report on Friday, August 4th. Royal Bank Of Canada reissued a “buy” rating and set a $185.00 price target on shares of Cigna Corporation in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Cigna Corporation has an average rating of “Buy” and an average price target of $201.50.
Shares of Cigna Corporation (CI) traded down $0.47 during mid-day trading on Thursday, reaching $197.14. The company’s stock had a trading volume of 1,263,100 shares, compared to its average volume of 1,361,488. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.37. Cigna Corporation has a one year low of $131.03 and a one year high of $206.45. The firm has a market cap of $48,600.00, a price-to-earnings ratio of 19.04, a PEG ratio of 1.51 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.47. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 earnings per share. analysts predict that Cigna Corporation will post 10.34 EPS for the current year.
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In related news, CAO Mary T. Hoeltzel sold 575 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 2,499 shares in the company, valued at approximately $492,377.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William D. Zollars sold 1,232 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total value of $230,667.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,054 shares of company stock valued at $389,721. 1.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Cigna Corporation by 40.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after acquiring an additional 1,184,632 shares during the period. Waddell & Reed Financial Inc. lifted its position in shares of Cigna Corporation by 125.8% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after acquiring an additional 974,747 shares during the period. AQR Capital Management LLC lifted its position in shares of Cigna Corporation by 221.8% in the 1st quarter. AQR Capital Management LLC now owns 926,328 shares of the health services provider’s stock worth $135,698,000 after acquiring an additional 638,426 shares during the period. Investec Asset Management LTD lifted its position in shares of Cigna Corporation by 35.4% in the 3rd quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock worth $345,764,000 after acquiring an additional 483,904 shares during the period. Finally, FMR LLC lifted its position in shares of Cigna Corporation by 6.7% in the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after acquiring an additional 432,978 shares during the period. Hedge funds and other institutional investors own 89.69% 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, and Other Operations and Corporate.
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