Cigna (NYSE:CI – Get Rating) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, The Fly reports.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Company raised their price objective on shares of Cigna from $278.00 to $306.00 in a report on Monday, May 9th. JPMorgan Chase & Co. upgraded shares of Cigna from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $248.00 to $304.00 in a report on Monday, May 16th. StockNews.com started coverage on shares of Cigna in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Sanford C. Bernstein increased their target price on shares of Cigna from $258.00 to $301.00 and gave the company a “mkt perform” rating in a research report on Friday, May 27th. Finally, Mizuho increased their target price on shares of Cigna from $266.00 to $291.00 in a research report on Monday, May 9th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cigna has an average rating of “Moderate Buy” and an average target price of $288.60.
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Cigna stock opened at $252.18 on Wednesday. The firm has a market cap of $80.01 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.97 and a beta of 0.77. Cigna has a 52-week low of $191.74 and a 52-week high of $273.58. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $258.02 and its two-hundred day moving average is $241.48.
Cigna (NYSE:CI – Get Rating) last released its earnings results on Friday, May 6th. The health services provider reported $6.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.88. The company had revenue of $44.01 billion for the quarter, compared to analyst estimates of $43.48 billion. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.73 EPS. On average, equities research analysts anticipate that Cigna will post 22.71 earnings per share for the current fiscal year.
In other news, CEO David Cordani sold 45,261 shares of Cigna stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $270.42, for a total transaction of $12,239,479.62. Following the completion of the sale, the chief executive officer now directly owns 160,499 shares in the company, valued at $43,402,139.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason D. Sadler sold 5,000 shares of Cigna stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the sale, the insider now owns 31,749 shares of the company’s stock, valued at $7,937,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,372 shares of company stock valued at $35,194,868. 0.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Country Trust Bank grew its stake in Cigna by 116.7% during the first quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock worth $25,000 after buying an additional 56 shares during the period. Missouri Trust & Investment Co acquired a new position in shares of Cigna during the fourth quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Cigna during the first quarter worth $30,000. Exane Derivatives lifted its position in shares of Cigna by 6,200.0% during the first quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock worth $30,000 after purchasing an additional 124 shares in the last quarter. Finally, Wagner Wealth Management LLC lifted its position in shares of Cigna by 144.4% during the fourth quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.
About Cigna (Get Rating)
Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.
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