Cigna Corporation (CI) Earns “Buy” Rating from Piper Jaffray Companies
Cigna Corporation (NYSE:CI)‘s stock had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies in a research note issued to investors on Sunday. They currently have a $191.00 price objective on the health services provider’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 2.66% from the company’s previous close.
A number of other research firms also recently issued reports on CI. Jefferies Group LLC reissued a “buy” rating and set a $183.00 price target on shares of Cigna Corporation in a research report on Thursday, June 8th. UBS AG reissued a “buy” rating and set a $186.00 price target (up previously from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Deutsche Bank AG boosted their price target on Cigna Corporation from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Bank of America Corporation boosted their price target on Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $177.00 price target on shares of Cigna Corporation in a research report on Tuesday, June 13th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $182.59.
Cigna Corporation (NYSE CI) opened at 186.05 on Friday. The stock’s 50 day moving average price is $179.52 and its 200-day moving average price is $165.10. The stock has a market capitalization of $46.84 billion, a PE ratio of 21.47 and a beta of 0.43. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $188.36.
Cigna Corporation (NYSE:CI) last released its earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.98 earnings per share. Analysts expect that Cigna Corporation will post $10.02 earnings per share for the current year.
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In related news, CEO David Cordani sold 153,168 shares of the business’s stock in a transaction dated 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 in the company, valued at $71,681,772.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. Insiders sold 223,821 shares of company stock valued at $38,506,877 in the last ninety days. Company insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of Cigna Corporation in the second quarter worth about $106,000. American Beacon Advisors Inc. acquired a new position in shares of Cigna Corporation in the first quarter worth about $102,000. Founders Capital Management acquired a new position in shares of Cigna Corporation in the first quarter worth about $117,000. Parallel Advisors LLC lifted its stake in shares of Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after acquiring an additional 307 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of Cigna Corporation in the first quarter worth about $122,000. Institutional investors and hedge funds own 87.96% 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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