Cigna Corp. (NYSE:CI) Receives $159.17 Average PT from Brokerages
Shares of Cigna Corp. (NYSE:CI) have received an average recommendation of “Buy” from the seventeen brokerages that are presently covering the stock. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $159.17.
Several research firms have weighed in on CI. Jefferies Group cut their target price on Cigna Corp. from $160.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $149.00 price target on shares of Cigna Corp. in a research report on Friday, July 8th. Goldman Sachs Group Inc. raised Cigna Corp. from a “buy” rating to a “conviction-buy” rating and dropped their price target for the stock from $170.00 to $165.00 in a research report on Friday, July 22nd. Zacks Investment Research lowered Cigna Corp. from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Finally, Citigroup Inc. dropped their price target on Cigna Corp. from $174.00 to $146.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd.
In other news, VP Mary T. Hoeltzel sold 500 shares of Cigna Corp. stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $132.28, for a total transaction of $66,140.00. Following the completion of the transaction, the vice president now directly owns 4,017 shares in the company, valued at approximately $531,368.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CI. Cohen & Steers Inc. increased its position in shares of Cigna Corp. by 5,076.6% in the second quarter. Cohen & Steers Inc. now owns 4,557,918 shares of the company’s stock valued at $403,011,000 after buying an additional 4,469,870 shares in the last quarter. Dodge & Cox increased its position in shares of Cigna Corp. by 12.8% in the second quarter. Dodge & Cox now owns 15,282,616 shares of the company’s stock valued at $1,956,022,000 after buying an additional 1,728,391 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Cigna Corp. during the second quarter valued at approximately $162,107,000. Alliancebernstein L.P. increased its position in shares of Cigna Corp. by 90.9% in the second quarter. Alliancebernstein L.P. now owns 2,177,144 shares of the company’s stock valued at $278,653,000 after buying an additional 1,036,848 shares in the last quarter. Finally, Sanders Capital LLC increased its position in shares of Cigna Corp. by 28.0% in the second quarter. Sanders Capital LLC now owns 4,013,588 shares of the company’s stock valued at $524,645,000 after buying an additional 876,878 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.
Shares of Cigna Corp. (NYSE:CI) opened at 127.23 on Friday. Cigna Corp. has a 52 week low of $121.87 and a 52 week high of $148.99. The company has a market cap of $32.64 billion, a PE ratio of 16.50 and a beta of 0.43. The company has a 50 day moving average price of $129.53 and a 200 day moving average price of $131.49.
Cigna Corp. (NYSE:CI) last released its earnings results on Friday, July 29th. The company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.39 by $0.41. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. The company earned $9.89 billion during the quarter, compared to analyst estimates of $9.98 billion. During the same period in the previous year, the company posted $2.55 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Cigna Corp. will post $7.99 earnings per share for the current year.
About Cigna Corp.
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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