Cigna Corporation (NYSE:CI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Cigna’s shares have outperformed the industry, year to date. The company’s second-quarter 2017 earnings beat the Zacks Consensus Estimate and increased year over year, reflecting strong contribution from each of the company’s business segments. The company is poised for long-term growth on the back of its robust Global Supplemental business, growing Government business and increasing membership. A strong capital position and resumption of share buyback are the other positives. Cigna is engaged in a legal tussle with Anthem and thus the termination fee and other charges that it were to receive from the latter remain uncertain.  Increase in benefits and expenses continue to bother us.”

Several other brokerages have also issued reports on CI. Deutsche Bank AG boosted their price target on shares of Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley upped their target price on shares of Cigna Corporation from $184.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday. CIBC upped their target price on shares of Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $174.00 target price (up from $163.00) on shares of Cigna Corporation in a research note on Monday, June 19th. Finally, Oppenheimer Holdings, Inc. upped their target price on shares of Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $179.89.

Shares of Cigna Corporation (NYSE CI) opened at 175.98 on Tuesday. The stock has a 50 day moving average price of $170.76 and a 200 day moving average price of $157.68. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $176.98. The firm has a market cap of $45.05 billion, a PE ratio of 23.50 and a beta of 0.46.

Cigna Corporation (NYSE:CI) last announced its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the previous year, the business earned $1.98 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Cigna Corporation will post $9.95 EPS for the current year.

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In other news, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total value of $83,350.00. Following the sale, the vice president now directly owns 2,449 shares of the company’s stock, valued at approximately $408,248.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jane E. Md Henney sold 600 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $174.14, for a total transaction of $104,484.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,558 shares of company stock valued at $37,135,665. Company insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after buying an additional 16,289,943 shares during the last quarter. Waddell & Reed Financial Inc. boosted its stake in shares of Cigna Corporation by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after buying an additional 974,747 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after buying an additional 913,991 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Cigna Corporation by 7,868.4% in the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock worth $103,772,000 after buying an additional 699,500 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Cigna Corporation by 221.8% in the first quarter. AQR Capital Management LLC now owns 926,328 shares of the health services provider’s stock worth $135,698,000 after buying an additional 638,426 shares during the last quarter. 86.91% of the stock is currently owned by institutional investors.

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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