Investors Sell Shares of Cigna Corp. (CI) on Strength (CI)
Investors 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 weighed in on the stock. Goldman Sachs Group Inc. upgraded shares of Cigna Corp. from a “buy” rating to a “conviction-buy” rating and reduced their price objective for the company from $170.00 to $165.00 in a research note on Friday, July 22nd. Zacks Investment Research lowered shares of Cigna Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Leerink Swann restated an “outperform” rating and set a $175.00 price objective on shares of Cigna Corp. in a research note on Tuesday, May 10th. Jefferies Group restated a “buy” rating and set a $165.00 price objective (down from $184.00) on shares of Cigna Corp. in a research note on Tuesday, May 10th. Finally, Royal Bank Of Canada raised their price objective on shares of Cigna Corp. from $169.00 to $174.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $160.87.
The firm’s 50-day moving average is $131.23 and its 200 day moving average is $133.32. The stock has a market cap of $34.12 billion and a price-to-earnings ratio of 17.25.
Cigna Corp. (NYSE:CI) last released its quarterly earnings results on Friday, July 29th. The company reported $1.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by $0.41. The business had revenue of $9.89 billion for the quarter, compared to analyst estimates of $9.98 billion. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $2.55 earnings per share. On average, analysts forecast that Cigna Corp. will post $8.07 EPS for the current fiscal year.
In other Cigna Corp. news, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $132.28, for a total transaction of $66,140.00. Following the completion of the sale, the vice president now directly owns 4,017 shares of the company’s stock, valued at $531,368.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Other hedge funds have recently added to or reduced their stakes in the company. 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 during the last quarter. Calvert Investment Management Inc. increased its position 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 during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cigna Corp. during the fourth quarter valued at about $3,347,000. Finally, Schwab Charles Investment Management Inc. increased its position in 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.
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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