Analysts at Goldman Sachs Group assumed coverage on shares of CIGNA (NYSE:CI) in a research note issued on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the health services provider’s stock.
A number of other brokerages have also recently weighed in on CI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price target (up from $185.00) on shares of CIGNA in a research report on Friday, November 3rd. Jefferies Group lifted their price target on shares of CIGNA from $221.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research cut shares of CIGNA from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $191.00 price target on shares of CIGNA in a research report on Sunday, September 17th. Finally, Credit Suisse Group assumed coverage on shares of CIGNA in a research report on Thursday, November 2nd. They set an “outperform” rating and a $219.00 price target on the stock. Three equities research 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 company. The stock currently has a consensus rating of “Buy” and a consensus target price of $202.56.
Shares of CIGNA (NYSE CI) opened at $202.56 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39. CIGNA has a 12-month low of $133.52 and a 12-month high of $212.46. The stock has a market cap of $50,071.78, a P/E ratio of 22.19, a P/E/G ratio of 1.39 and a beta of 0.51.
In other news, EVP Alan Muney sold 15,345 shares of CIGNA stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $200.80, for a total transaction of $3,081,276.00. Following the sale, the executive vice president now owns 28,457 shares in the company, valued at $5,714,165.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael W. Triplett sold 10,417 shares of CIGNA stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $197.77, for a total transaction of $2,060,170.09. Following the sale, the insider now owns 32,347 shares in the company, valued at approximately $6,397,266.19. The disclosure for this sale can be found here. Insiders have sold 34,936 shares of company stock worth $6,979,204 in the last quarter. Insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Harvest Management increased its stake in shares of CIGNA by 63.0% in the third quarter. Harvest Management now owns 17,600 shares of the health services provider’s stock worth $2,376,000 after buying an additional 6,800 shares during the last quarter. Gerstein Fisher increased its stake in shares of CIGNA by 2.1% in the third quarter. Gerstein Fisher now owns 14,944 shares of the health services provider’s stock worth $2,018,000 after buying an additional 313 shares during the last quarter. KBC Group increased its stake in shares of CIGNA by 24.0% in the third quarter. KBC Group now owns 67,317 shares of the health services provider’s stock worth $9,090,000 after buying an additional 13,038 shares during the last quarter. Eagle Asset Management increased its stake in shares of CIGNA by 103.2% in the third quarter. Eagle Asset Management now owns 344,104 shares of the health services provider’s stock worth $46,460,000 after buying an additional 174,794 shares during the last quarter. Finally, EQIS Capital Management bought a new stake in shares of CIGNA in the fourth quarter worth $365,000. Institutional investors own 87.74% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Goldman Sachs Group Begins Coverage on CIGNA (CI)” was first published by American Banking and Market News and is owned by of American Banking and Market News. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/03/goldman-sachs-group-begins-coverage-on-cigna-ci.html.
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.
