Traders Sell Shares of Cigna Corporation (CI) on Strength (CI)
Investors sold shares of Cigna Corporation (NYSE:CI) on strength during trading on Tuesday. $27.86 million flowed into the stock on the tick-up and $80.67 million flowed out of the stock on the tick-down, for a money net flow of $52.81 million out of the stock. Of all companies tracked, Cigna Corporation had the 23rd highest net out-flow for the day. Cigna Corporation traded up $2.58 for the day and closed at $201.99
CI has been the subject of a number of research analyst reports. Jefferies Group LLC lifted their target price on shares of Cigna Corporation from $221.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $191.00 target price on shares of Cigna Corporation in a research report on Sunday, September 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price (up previously from $185.00) on shares of Cigna Corporation in a research report on Friday, November 3rd. Finally, Credit Suisse Group initiated coverage on shares of Cigna Corporation in a research report on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 target price for the company. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Cigna Corporation presently has an average rating of “Buy” and a consensus price target of $201.50.
The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $48,809.45, a PE ratio of 19.07, a PEG ratio of 1.51 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last released its earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.47. Cigna Corporation had a net margin of 5.74% and a return on equity of 18.85%. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.17 billion. During the same quarter in the previous year, the company earned $1.94 EPS. Cigna Corporation’s revenue for the quarter was up 5.1% on a year-over-year basis. equities analysts predict that Cigna Corporation will post 10.34 EPS for the current year.
In related news, Director William D. Zollars sold 1,232 shares of Cigna Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael W. Triplett sold 10,417 shares of Cigna Corporation stock in a transaction on Monday, November 13th. The shares were sold at an average price of $197.77, for a total transaction of $2,060,170.09. Following the transaction, the insider now owns 32,347 shares in the company, valued at approximately $6,397,266.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,471 shares of company stock worth $2,449,891. 1.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CI. JPMorgan Chase & Co. lifted its stake in shares of Cigna Corporation by 40.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock valued at $684,413,000 after buying an additional 1,184,632 shares in the last quarter. Investec Asset Management LTD lifted its stake in shares of Cigna Corporation by 35.4% during the 3rd quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock valued at $345,764,000 after buying an additional 483,904 shares in the last quarter. FMR LLC lifted its stake in shares of Cigna Corporation by 6.7% during the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock valued at $1,156,604,000 after buying an additional 432,978 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Cigna Corporation by 4,082.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 438,231 shares of the health services provider’s stock valued at $73,355,000 after buying an additional 427,754 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Cigna Corporation by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock valued at $2,867,514,000 after buying an additional 424,469 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.
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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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