Investors Sell Shares of Cigna Corp. (CI) on Strength (CI)
Traders sold shares of Cigna Corp. (NYSE:CI) on strength during trading hours on Thursday. $47.30 million flowed into the stock on the tick-up and $70.42 million flowed out of the stock on the tick-down, for a money net flow of $23.12 million out of the stock. Of all equities tracked, Cigna Corp. had the 0th highest net out-flow for the day. Cigna Corp. traded up $0.32 for the day and closed at $132.62
A number of analysts have commented on the company. Goldman Sachs Group Inc. upgraded Cigna Corp. from a “buy” rating to a “conviction-buy” rating and reduced their price target for the stock from $170.00 to $165.00 in a research report on Friday, July 22nd. Zacks Investment Research cut Cigna Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. Jefferies Group restated a “buy” rating and issued a $165.00 price target (down previously from $184.00) on shares of Cigna Corp. in a research report on Tuesday, May 10th. Leerink Swann restated an “outperform” rating and issued a $175.00 price target on shares of Cigna Corp. in a research report on Tuesday, May 10th. Finally, Royal Bank Of Canada upped their price target on Cigna Corp. from $169.00 to $174.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Cigna Corp. has a consensus rating of “Buy” and a consensus target price of $160.87.
The stock’s 50 day moving average is $131.09 and its 200-day moving average is $133.32. The company has a market capitalization of $34.03 billion and a price-to-earnings ratio of 17.20.
Cigna Corp. (NYSE:CI) last issued its quarterly earnings data 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 firm earned $9.89 billion during the quarter, compared to analyst estimates of $9.98 billion. During the same period in the previous year, the business posted $2.55 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Cigna Corp. will post $8.14 earnings per share for the current fiscal year.
Other institutional investors recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Cigna Corp. by 3.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 679,698 shares of the company’s stock valued at $99,461,000 after buying an additional 21,101 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cigna Corp. during the fourth quarter valued at $3,347,000. Gyroscope Capital Management Group LLC raised its position in shares of 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. Calvert Investment Management Inc. raised its position in shares of 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. Finally, State of Tennessee Treasury Department raised its position in shares of 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.
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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