Cigna (NYSE:CI) Price Target Raised to $310.00 at Barclays

Cigna (NYSE:CIGet Rating) had its price objective hoisted by Barclays from $275.00 to $310.00 in a research report released on Monday morning, The Fly reports. Barclays currently has an overweight rating on the health services provider’s stock.

Other research analysts have also issued research reports about the company. Raymond James increased their target price on Cigna from $275.00 to $300.00 in a research report on Tuesday, May 10th. Morgan Stanley decreased their target price on Cigna from $238.00 to $235.00 and set an equal weight rating for the company in a research report on Thursday, February 10th. Deutsche Bank Aktiengesellschaft lowered Cigna from a buy rating to a hold rating and reduced their price objective for the company from $271.00 to $236.00 in a research report on Friday, February 4th. Royal Bank of Canada raised their price objective on Cigna from $235.00 to $272.00 in a research report on Monday, May 9th. Finally, StockNews.com initiated coverage on Cigna in a research report on Thursday, March 31st. They set a strong-buy rating for the company. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $283.20.

NYSE CI opened at $268.88 on Monday. Cigna has a fifty-two week low of $191.74 and a fifty-two week high of $271.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day simple moving average of $254.38 and a two-hundred day simple moving average of $235.42. The stock has a market cap of $85.31 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.02 and a beta of 0.78.

Cigna (NYSE:CIGet Rating) last released its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.88. Cigna had a return on equity of 15.31% and a net margin of 3.04%. The business had revenue of $44.01 billion during the quarter, compared to analysts’ expectations of $43.48 billion. During the same quarter last year, the business posted $4.73 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that Cigna will post 22.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 23rd. Investors of record on Wednesday, June 8th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.67%. The ex-dividend date is Tuesday, June 7th. Cigna’s dividend payout ratio is 27.79%.

In other news, CEO David Cordani sold 10,069 shares of Cigna stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $228.70, for a total transaction of $2,302,780.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric P. Palmer sold 8,126 shares of the company’s stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,031,500.00. Following the transaction, the chief executive officer now owns 40,942 shares of the company’s stock, valued at approximately $10,235,500. The disclosure for this sale can be found here. Insiders have sold 142,998 shares of company stock worth $37,628,011 in the last ninety days. Insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its position in shares of Cigna by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 3,593 shares of the health services provider’s stock worth $809,000 after purchasing an additional 44 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in Cigna by 6.9% during the 1st quarter. Financial Management Professionals Inc. now owns 684 shares of the health services provider’s stock valued at $164,000 after buying an additional 44 shares in the last quarter. Venture Visionary Partners LLC boosted its position in Cigna by 1.6% in the 1st quarter. Venture Visionary Partners LLC now owns 2,887 shares of the health services provider’s stock valued at $691,000 after buying an additional 45 shares during the period. Harbor Investment Advisory LLC grew its stake in Cigna by 2.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,756 shares of the health services provider’s stock worth $421,000 after acquiring an additional 46 shares in the last quarter. Finally, Convergence Investment Partners LLC increased its position in shares of Cigna by 3.0% during the first quarter. Convergence Investment Partners LLC now owns 1,560 shares of the health services provider’s stock worth $374,000 after acquiring an additional 46 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

About Cigna (Get Rating)

Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

Read More

The Fly logo

Analyst Recommendations for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.