Stifel Nicolaus Increases Cigna Corporation (CI) Price Target to $175.00
Cigna Corporation (NYSE:CI) had its target price boosted by analysts at Stifel Nicolaus from $170.00 to $175.00 in a note issued to investors on Monday, May 15th, StockTargetPrices.com reports. The brokerage presently has a “buy” rating on the health services provider’s stock. Stifel Nicolaus’ price target points to a potential upside of 3.50% from the company’s previous close.
Several other research firms also recently issued reports on CI. Deutsche Bank AG upped their price objective on shares of Cigna Corporation from $172.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Jefferies Group LLC upped their price objective on shares of Cigna Corporation from $178.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Royal Bank of Canada upped their price objective on shares of Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Zacks Investment Research raised shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a report on Tuesday, April 25th. Finally, Bank of America Corporation assumed coverage on shares of Cigna Corporation in a report on Monday, March 13th. They issued a “buy” rating and a $175.00 price target for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $172.82.
Shares of Cigna Corporation (CI) traded up 1.08% during trading on Monday, reaching $169.08. 2,009,547 shares of the company’s stock were exchanged. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $170.00. The firm has a market capitalization of $43.29 billion, a P/E ratio of 22.57 and a beta of 0.44. The company has a 50 day moving average of $162.47 and a 200 day moving average of $149.97.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings data on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.33. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $10.11 billion. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. Cigna Corporation’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 EPS. Equities analysts anticipate that Cigna Corporation will post $9.73 earnings per share for the current fiscal year.
In related news, Director Jane E. Md Henney sold 600 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $156.92, for a total transaction of $94,152.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicole S. Jones sold 20,312 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the sale, the executive vice president now owns 44,737 shares of the company’s stock, valued at approximately $7,159,709.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,246 shares of company stock valued at $7,433,839. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently made changes to their positions in CI. Private Trust Co. NA purchased a new stake in shares of Cigna Corporation during the first quarter worth about $205,000. Asset Advisors Corp boosted its stake in shares of Cigna Corporation by 7.3% in the first quarter. Asset Advisors Corp now owns 29,845 shares of the health services provider’s stock worth $4,372,000 after buying an additional 2,025 shares during the period. FineMark National Bank & Trust boosted its stake in shares of Cigna Corporation by 17.0% in the third quarter. FineMark National Bank & Trust now owns 31,902 shares of the health services provider’s stock worth $3,661,000 after buying an additional 4,636 shares during the period. Benson Investment Management Company Inc. purchased a new stake in shares of Cigna Corporation during the fourth quarter worth about $2,049,000. Finally, Dodge & Cox purchased a new stake in shares of Cigna Corporation during the fourth quarter worth about $1,929,534,000. Institutional investors and hedge funds own 87.05% 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, and Other Operations and Corporate.
Receive News & Stock Ratings for Cigna Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna Corporation and related stocks with our FREE daily email newsletter.