Cigna Corporation (CI) Given New $231.00 Price Target at Citigroup Inc
Cigna Corporation (NYSE:CI) had its target price increased by Citigroup Inc from $198.00 to $231.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the health services provider’s stock. Citigroup Inc’s price target suggests a potential upside of 14.41% from the stock’s previous close.
Several other research analysts have also recently commented on CI. Deutsche Bank AG increased 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. Credit Suisse Group reissued an “outperform” rating and set a $193.00 price target (up from $190.00) on shares of Cigna Corporation in a research report on Friday, July 14th. ValuEngine cut Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Royal Bank Of Canada reissued a “buy” rating and set a $182.00 price target on shares of Cigna Corporation in a research report on Monday, July 24th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $175.00 price target on shares of Cigna Corporation in a research report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $201.50.
Shares of Cigna Corporation (CI) traded up $4.06 during midday trading on Friday, reaching $201.90. The company had a trading volume of 1,238,151 shares, compared to its average volume of 1,508,257. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $48.91 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.46 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.36 by $0.47. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.17 billion. During the same period in the prior year, the firm posted $1.94 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. equities analysts forecast that Cigna Corporation will post 10.4 earnings per share for the current year.
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In other news, insider Michael W. Triplett sold 3,700 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $174.96, for a total transaction of $647,352.00. Following the transaction, the insider now owns 21,060 shares in the company, valued at $3,684,657.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason D. Sadler sold 37,756 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $176.16, for a total value of $6,651,096.96. Following the transaction, the insider now owns 47,844 shares in the company, valued at approximately $8,428,199.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,696 shares of company stock worth $8,070,481. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Cigna Corporation by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock worth $2,867,514,000 after acquiring an additional 424,469 shares during the period. FMR LLC increased its stake in Cigna Corporation by 6.7% during the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after acquiring an additional 432,978 shares during the period. JPMorgan Chase & Co. increased its stake in Cigna Corporation by 40.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after acquiring an additional 1,184,632 shares during the period. TIAA CREF Investment Management LLC increased its stake in Cigna Corporation by 5.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,655,875 shares of the health services provider’s stock worth $611,957,000 after acquiring an additional 180,310 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Cigna Corporation by 5.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,604,702 shares of the health services provider’s stock worth $603,487,000 after acquiring an additional 194,448 shares during the period. Hedge funds and other institutional investors own 88.23% 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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