Cigna Corporation (CI) Raised to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of Cigna Corporation (NYSE:CI) from a buy rating to a strong-buy rating in a research report report published on Friday morning.
CI has been the subject of several other research reports. Jefferies Group LLC reaffirmed a buy rating and set a $178.00 price target (up previously from $172.00) on shares of Cigna Corporation in a research note on Sunday, April 23rd. Zacks Investment Research raised Cigna Corporation from a hold rating to a buy rating and set a $175.00 price target for the company in a research note on Tuesday, April 25th. Stifel Nicolaus lifted their price target on Cigna Corporation from $170.00 to $175.00 and gave the stock a buy rating in a research note on Friday, May 5th. Deutsche Bank AG lifted their price target on Cigna Corporation from $172.00 to $175.00 and gave the stock a buy rating in a research note on Wednesday, May 10th. Finally, Royal Bank Of Canada lifted their price target on Cigna Corporation from $172.00 to $177.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $180.44.
Cigna Corporation (NYSE CI) opened at 177.03 on Friday. The firm has a market cap of $44.57 billion, a PE ratio of 20.43 and a beta of 0.46. Cigna Corporation has a one year low of $115.03 and a one year high of $181.00. The firm has a 50-day moving average price of $173.66 and a 200-day moving average price of $160.28.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.43. The company had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.98 earnings per share. On average, equities analysts expect that Cigna Corporation will post $10.03 EPS for the current fiscal year.
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In related news, EVP Lisa R. Bacus sold 2,236 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total transaction of $402,368.20. Following the transaction, the executive vice president now owns 18,501 shares in the company, valued at approximately $3,329,254.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 153,168 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $170.20, for a total value of $26,069,193.60. Following the transaction, the chief executive officer now owns 421,162 shares in the company, valued at approximately $71,681,772.40. The disclosure for this sale can be found here. In the last three months, insiders sold 243,463 shares of company stock valued at $41,678,984. 1.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC acquired a new position in shares of Cigna Corporation during the first quarter worth about $556,000. Boys Arnold & Co. Inc. increased its position in shares of Cigna Corporation by 1.8% in the first quarter. Boys Arnold & Co. Inc. now owns 1,833 shares of the health services provider’s stock worth $269,000 after buying an additional 33 shares in the last quarter. Columbus Circle Investors increased its position in shares of Cigna Corporation by 7.0% in the first quarter. Columbus Circle Investors now owns 44,421 shares of the health services provider’s stock worth $6,507,000 after buying an additional 2,906 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Cigna Corporation during the first quarter worth about $689,000. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Cigna Corporation by 20.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 15,839 shares of the health services provider’s stock worth $2,320,000 after buying an additional 2,672 shares in the last quarter. Institutional investors own 87.61% 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.
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