Cigna Corporation (NYSE:CI) had its target price upped by investment analysts at Deutsche Bank AG from $180.00 to $190.00 in a research note issued on Monday, August 7th. The firm presently has a “buy” rating on the health services provider’s stock. Deutsche Bank AG’s price objective indicates a potential upside of 7.33% from the company’s previous close.
Several other analysts have also recently issued reports on CI. Zacks Investment Research raised Cigna Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $178.00 target price (up previously from $172.00) on shares of Cigna Corporation in a research report on Sunday, April 23rd. Stifel Nicolaus increased their target price on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Royal Bank Of Canada increased their target price on Cigna Corporation from $172.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $185.00 target price (up previously from $160.00) on shares of Cigna Corporation in a research report on Thursday, June 1st. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $180.44.
Cigna Corporation (NYSE:CI) traded down 0.56% during trading on Monday, reaching $177.03. The company had a trading volume of 1,034,361 shares. The firm’s 50 day moving average is $173.66 and its 200 day moving average is $160.28. Cigna Corporation has a one year low of $115.03 and a one year high of $181.00. The company has a market capitalization of $44.57 billion, a PE ratio of 20.43 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.43. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The company had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Cigna Corporation’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Cigna Corporation will post $10.03 earnings per share for the current year.
In other Cigna Corporation news, EVP Lisa R. Bacus sold 11,455 shares of Cigna Corporation stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $161.57, for a total transaction of $1,850,784.35. Following the completion of the transaction, the executive vice president now owns 24,753 shares in the company, valued at approximately $3,999,342.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa R. Bacus sold 2,236 shares of Cigna Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $179.95, for a total value of $402,368.20. Following the transaction, the executive vice president now 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 sold a total of 243,463 shares of company stock valued at $41,678,984 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after buying an additional 16,289,943 shares during the period. JPMorgan Chase & Co. boosted its stake 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 buying an additional 1,184,632 shares during the period. Waddell & Reed Financial Inc. boosted its stake in Cigna Corporation by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after buying an additional 974,747 shares during the period. Wellington Management Group LLP boosted its stake in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after buying an additional 913,991 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in Cigna Corporation by 7,868.4% in the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock worth $103,772,000 after buying an additional 699,500 shares during the period. Hedge funds and other institutional investors own 87.61% of the company’s stock.
About Cigna Corporation
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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