ValuEngine upgraded shares of CIGNA (NYSE:CI) from a sell rating to a hold rating in a research report sent to investors on Monday, September 17th.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded CIGNA from a strong-buy rating to a hold rating in a research report on Tuesday, July 17th. Goldman Sachs Group upgraded CIGNA from a neutral rating to a buy rating and lifted their target price for the company from $193.00 to $212.00 in a research report on Wednesday, June 6th. SunTrust Banks boosted their price objective on CIGNA to $244.00 and gave the company a buy rating in a report on Friday, August 3rd. Cowen assumed coverage on CIGNA in a report on Monday, September 17th. They issued an outperform rating and a $240.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a buy rating and issued a $224.00 price objective on shares of CIGNA in a report on Friday, August 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $229.73.
NYSE:CI traded up $1.09 on Monday, reaching $207.09. The company’s stock had a trading volume of 2,600,475 shares, compared to its average volume of 2,350,325. CIGNA has a 12-month low of $163.02 and a 12-month high of $227.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $50.68 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.23 and a beta of 0.64.
CIGNA (NYSE:CI) last posted its earnings results on Thursday, August 2nd. The health services provider reported $3.89 EPS for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.56. CIGNA had a return on equity of 22.27% and a net margin of 5.82%. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.20 billion. During the same quarter in the previous year, the business earned $2.91 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts anticipate that CIGNA will post 13.87 earnings per share for the current fiscal year.
In related news, CFO Eric P. Palmer bought 2,828 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was purchased at an average cost of $177.61 per share, with a total value of $502,281.08. Following the purchase, the chief financial officer now directly owns 9,678 shares of the company’s stock, valued at approximately $1,718,909.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Zollars sold 238 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $193.70, for a total value of $46,100.60. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC acquired a new position in CIGNA during the 2nd quarter worth $102,000. Sun Life Financial INC boosted its position in shares of CIGNA by 254.3% during the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after acquiring an additional 473 shares in the last quarter. Signaturefd LLC acquired a new position in shares of CIGNA during the 1st quarter worth about $115,000. Synovus Financial Corp acquired a new position in shares of CIGNA during the 1st quarter worth about $115,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of CIGNA during the 3rd quarter worth about $116,000. 89.42% of the stock is owned by hedge funds and other institutional investors.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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