Cigna Corporation (NYSE:CI) Stock Rating Lowered by ValuEngine
Cigna Corporation (NYSE:CI) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Cigna Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Deutsche Bank AG initiated coverage on Cigna Corporation in a research note on Wednesday, April 5th. They set a “buy” rating and a $172.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and set a $178.00 price target (up previously from $172.00) on shares of Cigna Corporation in a research note on Sunday, April 23rd. Stifel Nicolaus lifted their price target on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, Royal Bank Of Canada boosted their target price on Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $176.33.
Shares of Cigna Corporation (CI) traded up 0.10% on Thursday, reaching $174.49. The company had a trading volume of 883,266 shares. The stock has a market cap of $44.67 billion, a PE ratio of 23.30 and a beta of 0.46. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $175.05. The stock has a 50-day moving average price of $169.00 and a 200-day moving average price of $155.71.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.33. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $10.11 billion. Cigna Corporation had a return on equity of 16.07% and a net margin of 6.53%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. Analysts predict that Cigna Corporation will post $9.79 earnings per share for the current fiscal year.
In related news, CEO David Cordani sold 153,168 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $170.20, for a total value of $26,069,193.60. Following the transaction, the chief executive officer now owns 421,162 shares of the company’s stock, valued at $71,681,772.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total value of $83,350.00. Following the completion of the transaction, the vice president now directly owns 2,449 shares in the company, valued at approximately $408,248.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,201 shares of company stock worth $32,862,614. Insiders own 1.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CI. UBS Asset Management Americas Inc. raised its stake in Cigna Corporation by 78.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,305,749 shares of the health services provider’s stock valued at $174,173,000 after buying an additional 573,696 shares during the last quarter. Teachers Advisors LLC raised its stake in Cigna Corporation by 41.8% in the fourth quarter. Teachers Advisors LLC now owns 983,915 shares of the health services provider’s stock valued at $131,244,000 after buying an additional 289,870 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in Cigna Corporation during the fourth quarter valued at about $2,485,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Cigna Corporation during the fourth quarter valued at about $1,109,000. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Cigna Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 222,948 shares of the health services provider’s stock valued at $32,659,000 after buying an additional 7,057 shares during the last quarter. Institutional investors and hedge funds own 86.87% of the company’s stock.
About Cigna Corporation
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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