Investors Sell Cigna Corp. (CI) on Strength (CI)
Investors sold shares of Cigna Corp. (NYSE:CI) on strength during trading on Friday. $25.60 million flowed into the stock on the tick-up and $44.63 million flowed out of the stock on the tick-down, for a money net flow of $19.03 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 $0.38 for the day and closed at $133.00
A number of equities research analysts have recently issued reports on the stock. Jefferies Group cut their price target on shares of Cigna Corp. from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Zacks Investment Research downgraded shares of Cigna Corp. from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $149.00 price objective on shares of Cigna Corp. in a research report on Friday, July 8th. Royal Bank Of Canada boosted 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 report on Wednesday, May 18th. Finally, Goldman Sachs Group Inc. raised shares of Cigna Corp. from a “buy” rating to a “conviction-buy” rating and lowered their price objective for the company from $170.00 to $165.00 in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $160.87.
The company’s 50-day moving average is $131.23 and its 200-day moving average is $133.32. The company has a market capitalization of $34.12 billion and a PE ratio of 17.25.
Cigna Corp. (NYSE:CI) last issued its earnings results on Friday, July 29th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by $0.41. The firm earned $9.89 billion during the quarter, compared to the consensus estimate of $9.98 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Cigna Corp. will post $8.07 earnings per share for the current year.
In other news, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $132.28, for a total transaction of $66,140.00. Following the transaction, the vice president now directly owns 4,017 shares of the company’s stock, valued at $531,368.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several institutional investors have recently modified their holdings of CI. 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 worth $2,123,000 after buying an additional 2,737 shares during the last quarter. 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 worth $19,081,000 after buying an additional 21,863 shares during the last quarter. Schwab Charles Investment Management Inc. raised 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 worth $99,461,000 after buying an additional 21,101 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cigna Corp. during the fourth quarter worth $3,347,000.
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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