Cigna Corporation (NYSE:CI) was upgraded by analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research note issued on Friday. The firm presently has a $172.00 target price on the stock. RBC Capital Markets’ target price suggests a potential upside of 17.93% from the stock’s previous close.
A number of other research firms have also recently commented on CI. Jefferies Group LLC reiterated a “buy” rating on shares of Cigna Corporation in a research report on Friday, February 3rd. Zacks Investment Research cut Cigna Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $164.00 price target (up previously from $158.00) on shares of Cigna Corporation in a research report on Monday, February 6th. Piper Jaffray Companies started coverage on Cigna Corporation in a research report on Wednesday, January 4th. They issued an “overweight” rating and a $170.00 price target for the company. Finally, Citigroup Inc. upped their price target on Cigna Corporation from $139.00 to $163.00 and gave the stock a “buy” rating in a research report on Monday, January 23rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Cigna Corporation presently has an average rating of “Buy” and an average target price of $161.08.
Cigna Corporation (NYSE:CI) opened at 145.85 on Friday. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $150.69. The stock’s 50 day moving average price is $143.90 and its 200-day moving average price is $133.41. The firm has a market capitalization of $37.46 billion, a price-to-earnings ratio of 20.29 and a beta of 0.53.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.13. The company earned $9.94 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Cigna Corporation had a return on equity of 15.77% and a net margin of 4.71%. Cigna Corporation’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 earnings per share. Equities analysts anticipate that Cigna Corporation will post $9.52 EPS for the current fiscal year.
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In related news, insider Jason D. Sadler sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $138.10, for a total transaction of $276,200.00. Following the completion of the transaction, the insider now directly owns 32,019 shares of the company’s stock, valued at $4,421,823.90. The sale was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Cigna Corporation by 18.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 13,896,503 shares of the company’s stock worth $1,810,992,000 after buying an additional 2,180,508 shares during the period. State Street Corp increased its stake in shares of Cigna Corporation by 2.9% in the fourth quarter. State Street Corp now owns 10,946,695 shares of the company’s stock worth $1,460,205,000 after buying an additional 309,795 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Cigna Corporation by 2.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,732,360 shares of the company’s stock worth $877,361,000 after buying an additional 129,287 shares during the period. Cohen & Steers Inc. increased its stake in shares of Cigna Corporation by 5,076.6% in the second quarter. Cohen & Steers Inc. now owns 4,557,918 shares of the company’s stock worth $403,011,000 after buying an additional 4,469,870 shares during the period. Finally, Sanders Capital LLC increased its stake in shares of Cigna Corporation by 3.5% in the third quarter. Sanders Capital LLC now owns 4,155,167 shares of the company’s stock worth $551,520,000 after buying an additional 141,579 shares during the period. Institutional investors and hedge funds own 85.65% 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, Other Operations and Corporate.
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