CIGNA Co. (NYSE:CI) has received an average rating of “Buy” from the fifteen brokerages that are currently covering the company. Four analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $163.82.
Several brokerages have recently commented on CI. Piper Jaffray Companies began coverage on CIGNA in a research report on Wednesday, January 4th. They issued an “overweight” rating and a $170.00 price objective on the stock. Zacks Investment Research downgraded CIGNA from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Citigroup Inc boosted their price objective on CIGNA from $139.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, January 23rd. Jefferies Group LLC restated a “buy” rating on shares of CIGNA in a research report on Friday, February 3rd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $151.00 price objective on shares of CIGNA in a research report on Friday, February 3rd.
CIGNA (NYSE:CI) opened at 145.82 on Wednesday. The stock’s 50 day moving average price is $149.40 and its 200 day moving average price is $137.49. CIGNA has a 12 month low of $115.03 and a 12 month high of $154.83. The company has a market capitalization of $37.48 billion, a price-to-earnings ratio of 20.28 and a beta of 0.53.
CIGNA (NYSE:CI) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.13. CIGNA had a return on equity of 15.77% and a net margin of 4.71%. The business earned $9.94 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. CIGNA’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that CIGNA will post $9.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Friday, March 10th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.16 dividend on an annualized basis and a yield of 0.11%. CIGNA’s dividend payout ratio (DPR) is presently 0.56%.
In other CIGNA news, insider Matthew G. Manders sold 8,309 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $146.54, for a total transaction of $1,217,600.86. Following the sale, the insider now directly owns 39,799 shares in the company, valued at $5,832,145.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas A. Mccarthy sold 4,464 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $146.54, for a total value of $654,154.56. Following the sale, the chief financial officer now owns 80,531 shares in the company, valued at $11,801,012.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,410 shares of company stock worth $8,320,431. Company insiders own 1.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its stake in shares of CIGNA by 4.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 457,182 shares of the company’s stock worth $59,580,000 after buying an additional 20,000 shares during the period. Bank of Stockton increased its stake in shares of CIGNA by 9.1% in the third quarter. Bank of Stockton now owns 4,511 shares of the company’s stock worth $588,000 after buying an additional 376 shares during the period. Deltec Asset Management LLC bought a new stake in shares of CIGNA during the third quarter worth about $235,000. Signature Financial Management Inc. bought a new stake in shares of CIGNA during the third quarter worth about $211,000. Finally, Bank of Montreal Can increased its stake in shares of CIGNA by 20.8% in the third quarter. Bank of Montreal Can now owns 170,628 shares of the company’s stock worth $22,238,000 after buying an additional 29,411 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.
CIGNA 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, Other Operations and Corporate.
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