Cigna Corporation (CI) Downgraded to “Hold” at ValuEngine
Cigna Corporation (NYSE:CI) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.
Other analysts have also recently issued reports about the stock. UBS AG restated a “buy” rating and issued a $186.00 price target (up from $181.00) on shares of Cigna Corporation in a report on Monday, June 5th. Jefferies Group LLC restated a “buy” rating and issued a $183.00 price target on shares of Cigna Corporation in a report on Thursday, June 8th. Deutsche Bank AG lifted their target price on shares of Cigna Corporation from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Royal Bank Of Canada lifted their target price on shares of Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Bank of America Corporation lifted their target price on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Cigna Corporation has an average rating of “Buy” and an average target price of $176.33.
Shares of Cigna Corporation (NYSE:CI) traded up 0.10% during midday trading on Thursday, hitting $174.49. 883,266 shares of the stock were exchanged. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $175.05. The stock has a market cap of $44.67 billion, a P/E ratio of 23.30 and a beta of 0.46. The firm has a 50 day moving average of $169.00 and a 200-day moving average of $155.71.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The business had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $10.11 billion. During the same period last year, the business earned $2.46 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Cigna Corporation will post $9.79 EPS for the current year.
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In other news, CEO David Cordani sold 153,168 shares of Cigna Corporation stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the completion of the transaction, the chief executive officer now directly owns 421,162 shares of the company’s stock, valued at approximately $71,681,772.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael W. Triplett sold 1,439 shares of Cigna Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $166.89, for a total transaction of $240,154.71. Following the transaction, the insider now directly owns 26,199 shares of the company’s stock, valued at $4,372,351.11. The disclosure for this sale can be found here. Insiders have sold a total of 195,201 shares of company stock valued at $32,862,614 over the last three months. 1.30% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its position in Cigna Corporation by 78.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,305,749 shares of the health services provider’s stock valued at $174,173,000 after buying an additional 573,696 shares during the period. Teachers Advisors LLC raised its position in Cigna Corporation by 41.8% in the fourth quarter. Teachers Advisors LLC now owns 983,915 shares of the health services provider’s stock valued at $131,244,000 after buying an additional 289,870 shares during the period. Kentucky Retirement Systems purchased a new position in Cigna Corporation during the fourth quarter valued at $2,485,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Cigna Corporation during the fourth quarter valued at $1,109,000. Finally, Chevy Chase Trust Holdings Inc. raised its position in Cigna Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 222,948 shares of the health services provider’s stock valued at $32,659,000 after buying an additional 7,057 shares during the period. 86.87% of the stock is owned by hedge funds and other institutional investors.
About Cigna Corporation
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, and Other Operations and Corporate.
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