Zacks Investment Research cut shares of Cigna Corporation (NYSE:CI) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Cigna’s shares have outperformed the industry, year to date. The company is poised for long-term growth on the back of its robust Global Supplemental business, growing Government business and increasing membership. A strong capital position and resumption of share buyback are the other positives. The company’s third-quarter 2017 earnings beat the Zacks Consensus Estimate and increased year over year, reflecting strong contribution from each of its business segments. Cigna is engaged in a legal tussle with Anthem and thus the termination fee and other charges that it was to receive from the latter remain uncertain. Increase in benefits and expenses continue to bother us.”
Other analysts have also issued reports about the stock. Deutsche Bank AG upped their price target on shares of Cigna Corporation from $175.00 to $180.00 and gave the company a buy rating in a research report on Thursday, July 13th. Royal Bank Of Canada restated a buy rating and set a $182.00 price target on shares of Cigna Corporation in a research report on Monday, July 24th. BidaskClub upgraded shares of Cigna Corporation from a buy rating to a strong-buy rating in a research report on Friday, August 18th. Piper Jaffray Companies restated a buy rating and set a $191.00 price target on shares of Cigna Corporation in a research report on Sunday, September 17th. Finally, Citigroup Inc. upped their price target on shares of Cigna Corporation from $185.00 to $198.00 and gave the company a buy rating in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $201.50.
Shares of Cigna Corporation (CI) opened at $197.61 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. Cigna Corporation has a 1 year low of $131.03 and a 1 year high of $206.45. The stock has a market cap of $48,811.91, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.51 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.47. Cigna Corporation had a net margin of 5.74% and a return on equity of 18.85%. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. equities research analysts anticipate that Cigna Corporation will post 10.34 EPS for the current year.
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In related news, Director William D. Zollars sold 1,232 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa R. Bacus sold 2,236 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $179.95, for a total transaction of $402,368.20. Following the sale, the executive vice president now directly owns 18,501 shares of the company’s stock, valued at approximately $3,329,254.95. The disclosure for this sale can be found here. Insiders have sold 4,290 shares of company stock valued at $792,090 in the last ninety days. Insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Cigna Corporation by 40.8% in the second quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after purchasing an additional 1,184,632 shares during the last quarter. Investec Asset Management LTD boosted its holdings in Cigna Corporation by 35.4% in the third quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock worth $345,764,000 after purchasing an additional 483,904 shares during the last quarter. FMR LLC boosted its holdings in Cigna Corporation by 6.7% in the second quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after purchasing an additional 432,978 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Cigna Corporation by 4,082.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 438,231 shares of the health services provider’s stock worth $73,355,000 after purchasing an additional 427,754 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cigna Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock worth $2,867,514,000 after purchasing an additional 424,469 shares during the last quarter. 89.69% of the stock is owned by institutional investors.
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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