Stock analysts at Cowen began coverage on shares of CIGNA (NYSE:CI) in a research report issued on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $240.00 price target on the health services provider’s stock. Cowen’s price objective would suggest a potential upside of 19.96% from the stock’s current price.

A number of other research analysts have also issued reports on CI. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $197.00 target price on the stock in a report on Monday, May 28th. Goldman Sachs Group raised CIGNA from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $193.00 to $212.00 in a report on Wednesday, June 6th. ValuEngine lowered CIGNA from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $224.00 target price on shares of CIGNA in a report on Friday, August 3rd. Finally, SunTrust Banks lifted their target price on CIGNA to $244.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. CIGNA has a consensus rating of “Buy” and an average target price of $227.00.

Shares of CI opened at $200.07 on Monday. The firm has a market cap of $47.48 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.15 and a beta of 0.63. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35. CIGNA has a one year low of $163.02 and a one year high of $227.13.

CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, August 2nd. The health services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.56. The company had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.20 billion. CIGNA had a return on equity of 22.27% and a net margin of 5.82%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $2.91 earnings per share. sell-side analysts anticipate that CIGNA will post 13.87 EPS for the current year.

In related news, Director William D. Zollars sold 238 shares of CIGNA stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $193.70, for a total transaction of $46,100.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eric P. Palmer bought 2,828 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were purchased at an average cost of $177.61 per share, for a total transaction of $502,281.08. Following the completion of the acquisition, the chief financial officer now owns 9,678 shares of the company’s stock, valued at $1,718,909.58. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in CI. Flagship Harbor Advisors LLC acquired a new position in shares of CIGNA in the 2nd quarter valued at $102,000. Sun Life Financial INC boosted its position in CIGNA by 254.3% during the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after acquiring an additional 473 shares during the period. Signaturefd LLC acquired a new stake in CIGNA during the 1st quarter worth about $115,000. Synovus Financial Corp acquired a new stake in CIGNA during the 1st quarter worth about $115,000. Finally, Elmwood Wealth Management Inc. acquired a new stake in CIGNA during the 1st quarter worth about $117,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

About CIGNA

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.

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Analyst Recommendations for CIGNA (NYSE:CI)

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