Cigna Corp. (CI) Shares Up 4.3%
Cigna Corp. (NYSE:CI) shares shot up 4.3% on Friday . The stock traded as high as $133.58 and last traded at $132.01, with a volume of 2,530,315 shares. The stock had previously closed at $126.62.
Several research firms have recently weighed in on CI. Jefferies Group cut their price target on Cigna Corp. from $160.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Zacks Investment Research cut Cigna Corp. from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $149.00 price objective on shares of Cigna Corp. in a report on Friday, July 8th. Royal Bank Of Canada increased their price objective on Cigna Corp. from $169.00 to $174.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 18th. Finally, Goldman Sachs Group Inc. raised Cigna Corp. from a “buy” rating to a “conviction-buy” rating and dropped their price objective for the stock from $170.00 to $165.00 in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Cigna Corp. currently has a consensus rating of “Buy” and an average price target of $160.87.
The stock has a 50-day moving average of $130.36 and a 200-day moving average of $133.33. The company has a market cap of $34.20 billion and a price-to-earnings ratio of 17.29.
Cigna Corp. (NYSE:CI) last released its quarterly earnings results on Friday, July 29th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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. During the same period in the previous year, the company earned $2.55 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Cigna Corp. will post $8.14 earnings per share for the current year.
Other hedge funds recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its stake in Cigna Corp. by 21.3% in the fourth quarter. GSA Capital Partners LLP now owns 7,692 shares of the company’s stock valued at $1,126,000 after buying an additional 1,349 shares in the last quarter. Calvert Investment Management Inc. raised its stake in Cigna Corp. by 23.3% in the fourth quarter. Calvert Investment Management Inc. now owns 14,506 shares of the company’s stock valued at $2,123,000 after buying an additional 2,737 shares in the last quarter. Gyroscope Capital Management Group LLC raised its stake in Cigna Corp. by 492.6% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 14,324 shares of the company’s stock valued at $2,096,000 after buying an additional 11,907 shares in the last quarter. State of Tennessee Treasury Department raised its stake in Cigna Corp. by 20.1% in the fourth quarter. State of Tennessee Treasury Department now owns 130,395 shares of the company’s stock valued at $19,081,000 after buying an additional 21,863 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Cigna Corp. by 36.0% in the fourth quarter. Jennison Associates LLC now owns 924,219 shares of the company’s stock valued at $135,241,000 after buying an additional 244,864 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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