CIGNA (NYSE:CI) had its price target cut by investment analysts at Credit Suisse Group from $232.00 to $215.00 in a note issued to investors on Monday. The firm presently has an “outperform” rating on the health services provider’s stock. Credit Suisse Group’s target price points to a potential upside of 23.74% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. Barclays assumed coverage on shares of CIGNA in a research note on Thursday. They issued an “overweight” rating and a $235.00 price objective on the stock. Oppenheimer increased their price objective on shares of CIGNA to $237.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Morgan Stanley increased their price objective on shares of CIGNA to $255.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Goldman Sachs Group assumed coverage on shares of CIGNA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective on the stock. Finally, ValuEngine raised shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $211.28.
Shares of CIGNA (NYSE:CI) opened at $173.75 on Monday. The company has a market cap of $42,104.88, a PE ratio of 19.90, a P/E/G ratio of 1.04 and a beta of 0.51. CIGNA has a 12 month low of $143.85 and a 12 month high of $227.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38.
In other CIGNA news, EVP John M. Murabito sold 6,099 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $220.10, for a total value of $1,342,389.90. Following the transaction, the executive vice president now directly owns 68,026 shares in the company, valued at approximately $14,972,522.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher J. Hocevar sold 2,759 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $191.84, for a total transaction of $529,286.56. Following the completion of the transaction, the insider now owns 12,784 shares in the company, valued at $2,452,482.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,103 shares of company stock worth $17,217,951. 1.30% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB lifted its holdings in CIGNA by 9.0% in the 4th quarter. Xact Kapitalforvaltning AB now owns 53,402 shares of the health services provider’s stock valued at $10,845,000 after purchasing an additional 4,405 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of CIGNA by 4.7% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,805 shares of the health services provider’s stock worth $38,141,000 after acquiring an additional 8,375 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of CIGNA by 49.2% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 14,244 shares of the health services provider’s stock worth $2,893,000 after acquiring an additional 4,700 shares during the period. Banco de Sabadell S.A purchased a new position in shares of CIGNA during the 4th quarter worth about $1,176,000. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of CIGNA by 8.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 7,535 shares of the health services provider’s stock worth $1,530,000 after acquiring an additional 562 shares during the period. Institutional investors own 88.87% of the company’s stock.
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CIGNA 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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