Cigna Corp. (CI) Sees Unusually-High Trading Volume
Cigna Corp. (NYSE:CI) shares saw unusually-strong trading volume on Friday . Approximately 3,741,131 shares changed hands during mid-day trading, an increase of 57% from the previous session’s volume of 2,389,277 shares.The stock last traded at $129.37 and had previously closed at $135.99.
A number of equities research analysts recently issued reports on CI shares. Zacks Investment Research lowered Cigna Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 18th. Barclays PLC lifted their target price on Cigna Corp. from $156.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 1st. Wolfe Research started coverage on Cigna Corp. in a research report on Tuesday, June 28th. They issued an “outperform” rating and a $172.00 target price on the stock. Stifel Nicolaus started coverage on Cigna Corp. in a research report on Tuesday, June 28th. They issued a “buy” rating and a $169.00 target price on the stock. Finally, Leerink Swann reissued an “outperform” rating and issued a $175.00 target price on shares of Cigna Corp. in a research report on Tuesday, May 10th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $163.54.
The stock’s 50 day moving average is $130.49 and its 200-day moving average is $134.05. The stock has a market capitalization of $33.08 billion and a price-to-earnings ratio of 16.12.
Cigna Corp. (NYSE:CI) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by $0.41. The business earned $9.89 billion during the quarter, compared to analyst estimates of $9.98 billion. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 EPS. Analysts predict that Cigna Corp. will post $8.99 earnings per share for the current fiscal year.
Other hedge funds and institutional investors recently bought and sold shares of the company. Advantus Capital Management Inc raised its position in Cigna Corp. by 3.1% in the fourth quarter. Advantus Capital Management Inc now owns 25,071 shares of the company’s stock worth $3,669,000 after buying an additional 761 shares in the last quarter. GSA Capital Partners LLP raised its position in Cigna Corp. by 21.3% in the fourth quarter. GSA Capital Partners LLP now owns 7,692 shares of the company’s stock worth $1,126,000 after buying an additional 1,349 shares in the last quarter. WBI Investments Inc. raised its position in Cigna Corp. by 29.5% in the fourth quarter. WBI Investments Inc. now owns 25,158 shares of the company’s stock worth $3,681,000 after buying an additional 5,725 shares in the last quarter. Brown Advisory Inc. raised its position in Cigna Corp. by 106.0% in the fourth quarter. Brown Advisory Inc. now owns 11,854 shares of the company’s stock worth $1,734,000 after buying an additional 6,099 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in Cigna Corp. by 5.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 148,266 shares of the company’s stock worth $19,199,000 after buying an additional 8,270 shares in the last quarter.
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, Other Operations and Corporate.
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