RBC Capital Markets upgraded shares of Cigna Corporation (NYSE:CI) from a sector perform rating to an outperform rating in a research report sent to investors on Friday morning. They currently have $172.00 target price on the stock.
CI has been the topic of several other research reports. Jefferies Group LLC reaffirmed a buy rating on shares of Cigna Corporation in a research note on Friday, February 3rd. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $164.00 target price (up previously from $158.00) on shares of Cigna Corporation in a report on Monday, February 6th. Piper Jaffray Companies initiated coverage on Cigna Corporation in a report on Wednesday, January 4th. They set an overweight rating and a $170.00 target price for the company. Zacks Investment Research upgraded Cigna Corporation from a sell rating to a hold rating in a report on Tuesday, January 17th. Finally, Citigroup Inc. increased their target price on Cigna Corporation from $139.00 to $163.00 and gave the stock a buy rating in a 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. The company currently has a consensus rating of Buy and a consensus target price of $161.08.
Cigna Corporation (NYSE:CI) opened at 146.68 on Friday. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $150.69. The firm has a 50-day moving average price of $143.98 and a 200-day moving average price of $133.54. The stock has a market cap of $37.68 billion, a P/E ratio of 20.40 and a beta of 0.53.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $1.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.13. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.88 billion. Cigna Corporation had a return on equity of 15.77% and a net margin of 4.71%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.87 EPS. On average, equities research analysts predict that Cigna Corporation will post $9.52 EPS for the current year.
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In other news, insider Jason D. Sadler sold 2,000 shares of Cigna Corporation stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $138.10, for a total value of $276,200.00. Following the completion of the sale, the insider now directly owns 32,019 shares in the company, valued at $4,421,823.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp increased its stake in Cigna Corporation by 1.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 558,994 shares of the company’s stock worth $72,848,000 after buying an additional 6,937 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Cigna Corporation during the second quarter worth $162,107,000. Ameriprise Financial Inc. increased its stake in Cigna Corporation by 67.1% in the third quarter. Ameriprise Financial Inc. now owns 2,049,780 shares of the company’s stock worth $267,106,000 after buying an additional 823,382 shares during the last quarter. BlackRock Inc. increased its stake in Cigna Corporation by 0.3% in the third quarter. BlackRock Inc. now owns 684,562 shares of the company’s stock worth $89,212,000 after buying an additional 2,060 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Cigna Corporation by 0.4% in the second quarter. California State Teachers Retirement System now owns 549,028 shares of the company’s stock worth $70,270,000 after buying an additional 2,224 shares during the last quarter. Institutional investors 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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