Cigna Corp. (CI) Sees Large Volume Increase
Cigna Corp. (NYSE:CI) shares saw strong trading volume on Friday . 3,741,131 shares traded hands during 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.
Several analysts have recently issued reports on the company. Zacks Investment Research lowered 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 target price on shares of Cigna Corp. in a report on Friday, July 8th. Royal Bank Of Canada increased their target price on Cigna Corp. from $169.00 to $174.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 18th. Goldman Sachs Group Inc. raised Cigna Corp. from a “buy” rating to a “conviction-buy” rating and reduced their target price for the stock from $170.00 to $165.00 in a report on Friday, July 22nd. Finally, Jefferies Group reissued a “buy” rating and set a $165.00 target price (down from $184.00) on shares of Cigna Corp. in a report on Tuesday, May 10th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Cigna Corp. has an average rating of “Buy” and a consensus price target of $163.54.
The company has a market capitalization of $33.08 billion and a P/E ratio of 16.12. The stock has a 50-day moving average price of $130.49 and a 200 day moving average price of $134.05.
Cigna Corp. (NYSE:CI) last released its quarterly earnings data on Friday, July 29th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by $0.41. The company earned $9.89 billion during the quarter, compared to the consensus estimate of $9.98 billion. During the same quarter last year, the firm posted $2.55 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Cigna Corp. will post $9.29 EPS for the current fiscal year.
Several hedge funds recently added to or reduced their stakes in CI. 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 worth $1,126,000 after buying an additional 1,349 shares during the last quarter. Brown Advisory Inc. boosted 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 valued at $1,734,000 after buying an additional 6,099 shares during the last quarter. Lipe & Dalton acquired a new position in Cigna Corp. during the fourth quarter valued at approximately $1,793,000. FineMark National Bank & Trust boosted its position in Cigna Corp. by 12.1% in the fourth quarter. FineMark National Bank & Trust now owns 24,278 shares of the company’s stock valued at $3,553,000 after buying an additional 2,611 shares during the last quarter. Finally, Advantus Capital Management Inc boosted 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 valued at $3,669,000 after buying an additional 761 shares during 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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