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 stocks 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
CI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Cigna Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Leerink Swann restated an “outperform” rating and issued a $175.00 target price on shares of Cigna Corp. in a report on Tuesday, May 10th. Jefferies Group restated a “buy” rating and issued a $165.00 target price (down from $184.00) on shares of Cigna Corp. in a report on Tuesday, May 10th. Royal Bank Of Canada boosted their target price on shares of Cigna Corp. from $169.00 to $174.00 and gave the company a “sector perform” rating in a report on Wednesday, May 18th. Finally, Barclays PLC boosted their target price on shares of Cigna Corp. from $156.00 to $168.00 and gave the company an “equal weight” rating in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Cigna Corp. has a consensus rating of “Buy” and an average target price of $160.87.
The company has a market cap of $34.12 billion and a PE ratio of 17.25. The stock’s 50 day moving average is $131.23 and its 200-day moving average is $133.32.
Cigna Corp. (NYSE:CI) last posted its quarterly earnings results 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. During the same period last year, the business earned $2.55 earnings per share. The firm had revenue of $9.89 billion for the quarter, compared to analyst estimates of $9.98 billion. Cigna Corp.’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that Cigna Corp. will post $8.07 EPS for the current fiscal year.
In other news, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $132.28, for a total value 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 Securities & Exchange Commission, which is available through the SEC website.
A number of institutional investors have recently added to or reduced their stakes in the company. 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 worth $99,461,000 after buying an additional 21,101 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cigna Corp. during the fourth quarter worth approximately $3,347,000. 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 worth $2,123,000 after buying an additional 2,737 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its position 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 worth $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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