Cigna Corporation (CI) Stock Rating Reaffirmed by Piper Jaffray Companies
Cigna Corporation (NYSE:CI)‘s stock had its “buy” rating reaffirmed by equities researchers at Piper Jaffray Companies in a research note issued on Sunday. They currently have a $191.00 target price on the health services provider’s stock. Piper Jaffray Companies’ price target points to a potential upside of 3.08% from the stock’s previous close.
Several other brokerages also recently commented on CI. Morgan Stanley upped their price objective on Cigna Corporation from $184.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Deutsche Bank AG upped their price objective on Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, August 7th. BidaskClub raised Cigna Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. CIBC upped their price objective on Cigna Corporation from $174.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, June 15th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $174.00 price objective (up previously from $163.00) on shares of Cigna Corporation in a research report on Monday, June 19th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $182.59.
Shares of Cigna Corporation (NYSE CI) opened at 185.30 on Friday. The company has a 50-day moving average of $179.84 and a 200 day moving average of $165.56. The company has a market cap of $46.65 billion, a PE ratio of 21.38 and a beta of 0.43. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $188.36.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The company had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the prior year, the firm posted $1.98 EPS. Cigna Corporation’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Cigna Corporation will post $10.02 EPS for the current year.
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In other news, Chairman Isaiah Harris, Jr. sold 247 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Zollars sold 1,232 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total value of $230,667.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,653 shares of company stock valued at $12,437,684. 1.30% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CI. American Beacon Advisors Inc. purchased a new position in shares of Cigna Corporation in the first quarter worth about $102,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Cigna Corporation in the second quarter worth about $106,000. Founders Capital Management purchased a new position in shares of Cigna Corporation in the first quarter worth about $117,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Cigna Corporation in the first quarter worth about $122,000. Finally, Parallel Advisors LLC grew its holdings in Cigna Corporation by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after acquiring an additional 307 shares during the period. Hedge funds and other institutional investors own 87.94% of the company’s stock.
Cigna Corporation 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, and Other Operations and Corporate.
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