CIGNA (NYSE:CI) had its price objective cut by investment analysts at Wells Fargo & Co from $221.00 to $200.00 in a research note issued to investors on Thursday, January 3rd, The Fly reports. The brokerage presently has a “market perform” rating on the health services provider’s stock. Wells Fargo & Co‘s price objective would suggest a potential upside of 2.74% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Leerink Swann raised their price target on CIGNA from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, November 19th. Cantor Fitzgerald started coverage on shares of CIGNA in a research report on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 price target for the company. Cowen initiated coverage on shares of CIGNA in a report on Monday, September 17th. They set an “outperform” rating and a $240.00 price target for the company. ValuEngine raised shares of CIGNA from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Finally, Raymond James raised shares of CIGNA from a “market perform” rating to an “outperform” rating and set a $187.17 price target for the company in a research report on Thursday, January 3rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. CIGNA presently has a consensus rating of “Buy” and an average target price of $228.56.
Shares of CIGNA stock opened at $194.66 on Thursday. CIGNA has a 1 year low of $163.02 and a 1 year high of $227.13. The company has a market cap of $46.36 billion, a P/E ratio of 18.61, a P/E/G ratio of 0.80 and a beta of 0.73. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.98 and a quick ratio of 0.98.
CIGNA (NYSE:CI) last released its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.39. The firm had revenue of $11.45 billion during the quarter, compared to analyst estimates of $11.19 billion. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.83 EPS. On average, analysts forecast that CIGNA will post 14.28 EPS for the current fiscal year.
In other news, insider Jason D. Sadler sold 21,189 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $212.99, for a total transaction of $4,513,045.11. Following the completion of the sale, the insider now directly owns 41,966 shares of the company’s stock, valued at approximately $8,938,338.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael W. Triplett sold 2,825 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $214.25, for a total transaction of $605,256.25. Following the sale, the insider now directly owns 23,871 shares of the company’s stock, valued at $5,114,361.75. The disclosure for this sale can be found here. Insiders have sold a total of 24,215 shares of company stock worth $5,160,680 in the last three months. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CI. Edge Wealth Management LLC acquired a new stake in CIGNA during the fourth quarter worth about $46,000. West Oak Capital LLC acquired a new stake in shares of CIGNA in the fourth quarter valued at approximately $84,000. Acropolis Investment Management LLC acquired a new stake in shares of CIGNA in the fourth quarter valued at approximately $100,000. Flagship Harbor Advisors LLC acquired a new stake in shares of CIGNA in the second quarter valued at approximately $102,000. Finally, Ancora Advisors LLC bought a new position in shares of CIGNA in the third quarter valued at approximately $106,000. 93.36% of the stock is owned by hedge funds and other institutional investors.
CIGNA Company Profile
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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