CIGNA Coverage Initiated at Sterne Agee (CI)
Investment analysts at Sterne Agee began coverage on shares of CIGNA (NYSE:CI) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $110.00 price target on the stock. Sterne Agee’s price objective would indicate a potential upside of 20.42% from the stock’s previous close.
In other CIGNA news, CFO Thomas A. Mccarthy sold 7,206 shares of CIGNA stock on the open market in a transaction dated Friday, June 13th. The stock was sold at an average price of $90.26, for a total transaction of $650,413.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of CIGNA in a research note on Tuesday, June 3rd. They now have a $95.00 price target on the stock, down previously from $96.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of CIGNA in a research note on Friday, May 16th. They now have a $92.00 price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of CIGNA in a research note on Friday, May 2nd. They now have a $88.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $92.14.
Shares of CIGNA (NYSE:CI) traded up 0.53% on Friday, hitting $91.83. 306,186 shares of the company’s stock traded hands. CIGNA has a one year low of $71.12 and a one year high of $92.11. The stock’s 50-day moving average is $89.64 and its 200-day moving average is $84.09. The company has a market cap of $24.670 billion and a P/E ratio of 13.20.
CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.54 by $0.29. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter last year, the company posted $1.72 earnings per share. CIGNA’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that CIGNA will post $7.30 earnings per share for the current fiscal year.
Cigna Corporation (NYSE:CI) is a holding company.
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