Citigroup Inc. Boosts Cigna Corporation (CI) Price Target to $198.00
Cigna Corporation (NYSE:CI) had its price objective lifted by equities research analysts at Citigroup Inc. from $185.00 to $198.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the health services provider’s stock. Citigroup Inc.’s price target would indicate a potential upside of 14.75% from the stock’s previous close.
A number of other research analysts have also commented on the company. Jefferies Group LLC reissued a “buy” rating and set a $178.00 price objective (up previously from $172.00) on shares of Cigna Corporation in a report on Sunday, April 23rd. Zacks Investment Research raised Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Tuesday, April 25th. Stifel Nicolaus raised their target price on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, May 5th. Deutsche Bank AG raised their target price on Cigna Corporation from $172.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Royal Bank Of Canada raised their target price on Cigna Corporation from $172.00 to $177.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $179.89.
Cigna Corporation (CI) traded up 1.747% during trading on Monday, reaching $175.565. The company’s stock had a trading volume of 1,305,563 shares. The firm has a market capitalization of $44.95 billion, a price-to-earnings ratio of 23.440 and a beta of 0.46. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $176.98. The stock’s 50-day moving average is $170.76 and its 200 day moving average is $157.68.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.43. The business had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a return on equity of 17.58% and a net margin of 7.46%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 EPS. On average, analysts predict that Cigna Corporation will post $9.85 EPS for the current fiscal year.
In other news, EVP Nicole S. Jones sold 20,312 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the completion of the sale, the executive vice president now owns 44,737 shares in the company, valued at $7,159,709.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 153,168 shares of the business’s 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 sale, the chief executive officer now owns 421,162 shares of the company’s stock, valued at approximately $71,681,772.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,558 shares of company stock valued at $37,135,665. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new stake in Cigna Corporation during the first quarter worth $102,000. Baystate Wealth Management LLC increased its stake in 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 purchased a new stake in Cigna Corporation during the first quarter worth $117,000. Mckinley Capital Management LLC Delaware purchased a new stake in Cigna Corporation during the first quarter worth $122,000. Finally, Guardian Life Insurance Co. of America increased its stake in 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. Institutional investors own 86.91% of the company’s stock.
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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