Cigna Corporation (NYSE:CI) Given New $188.00 Price Target at Morgan Stanley
Cigna Corporation (NYSE:CI) had its price objective lifted by equities research analysts at Morgan Stanley from $184.00 to $188.00 in a research report issued to clients and investors on Monday. The firm presently has an “overweight” rating on the health services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 8.95% from the company’s current price.
CI has been the topic of several other reports. UBS AG reiterated a “buy” rating and issued a $186.00 price target (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation raised their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and set a $183.00 price objective on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine downgraded shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Deutsche Bank AG raised their price objective on shares of Cigna Corporation from $172.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $179.89.
Cigna Corporation (NYSE CI) traded up 1.747% during mid-day trading on Monday, reaching $175.565. The company’s stock had a trading volume of 1,305,563 shares. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $176.98. The company has a market cap of $44.95 billion, a price-to-earnings ratio of 23.440 and a beta of 0.46. The firm has a 50 day moving average price of $170.76 and a 200 day moving average price of $157.68.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.58%. The business had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period last year, the firm earned $1.98 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Cigna Corporation will post $9.85 earnings per share for the current year.
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In other Cigna Corporation news, CEO David Cordani sold 153,168 shares of Cigna Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the transaction, the chief executive officer now directly owns 421,162 shares of the company’s stock, valued at approximately $71,681,772.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew G. Manders sold 24,357 shares of Cigna Corporation stock in a transaction on Friday, July 21st. The stock was sold at an average price of $175.01, for a total transaction of $4,262,718.57. Following the completion of the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at $8,095,262.56. The disclosure for this sale can be found here. Insiders have sold 219,558 shares of company stock valued at $37,135,665 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. American Beacon Advisors Inc. acquired a new position in shares of Cigna Corporation during the first quarter worth approximately $102,000. Baystate Wealth Management LLC boosted its position in shares of Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock worth $116,000 after buying an additional 628 shares during the last quarter. Founders Capital Management acquired a new position in shares of Cigna Corporation during the first quarter worth approximately $117,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Cigna Corporation during the first quarter worth approximately $122,000. Finally, Guardian Life Insurance Co. of America boosted its position in shares of Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after buying an additional 7 shares during the last quarter. 86.91% of the stock is owned by institutional investors and hedge funds.
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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