CIGNA Co. (CI) Receives Average Recommendation of “Buy” from Brokerages

Shares of CIGNA Co. (NYSE:CI) have been assigned a consensus recommendation of “Buy” from the nineteen research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $210.12.

A number of research firms have recently commented on CI. Morgan Stanley raised their target price on CIGNA from $195.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Oppenheimer raised their target price on CIGNA to $237.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 target price (up previously from $185.00) on shares of CIGNA in a research note on Friday, November 3rd. Goldman Sachs Group began coverage on CIGNA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 target price for the company. Finally, Credit Suisse Group began coverage on CIGNA in a research note on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 target price for the company.

CIGNA (NYSE:CI) traded down $0.04 during midday trading on Tuesday, reaching $193.52. The company’s stock had a trading volume of 309,262 shares, compared to its average volume of 1,527,214. CIGNA has a 1-year low of $141.93 and a 1-year high of $227.13. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock has a market cap of $47,720.00, a PE ratio of 21.13, a P/E/G ratio of 1.16 and a beta of 0.44.

CIGNA (NYSE:CI) last released its earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.07. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 EPS. equities analysts forecast that CIGNA will post 12.9 EPS for the current year.

In other CIGNA news, EVP John M. Murabito sold 6,099 shares of CIGNA stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $220.10, for a total transaction of $1,342,389.90. Following the completion of the transaction, the executive vice president now owns 68,026 shares in the company, valued at $14,972,522.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Isaiah Harris, Jr. sold 212 shares of CIGNA stock in a transaction on Monday, December 11th. The shares were sold at an average price of $209.35, for a total value of $44,382.20. The disclosure for this sale can be found here. Insiders have sold 64,663 shares of company stock valued at $13,329,903 in the last quarter. 1.30% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of CI. Saratoga Research & Investment Management bought a new stake in shares of CIGNA in the 3rd quarter worth $112,000. Financial Gravity Companies Inc. bought a new stake in shares of CIGNA in the 4th quarter worth $112,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of CIGNA in the 4th quarter worth $122,000. Horan Capital Advisors LLC. bought a new stake in shares of CIGNA in the 3rd quarter worth $123,000. Finally, Cerebellum GP LLC bought a new stake in shares of CIGNA in the 4th quarter worth $127,000. 88.60% of the stock is owned by institutional investors and hedge funds.

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About CIGNA

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.

Analyst Recommendations for CIGNA (NYSE:CI)

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