Barclays Trims Cigna (CI) Target Price to $207.00
Cigna (NYSE:CI) had its price objective lowered by research analysts at Barclays from $220.00 to $207.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the health services provider’s stock. Barclays‘s price objective would indicate a potential upside of 38.93% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Credit Suisse Group reissued a “buy” rating and issued a $250.00 target price on shares of Cigna in a research report on Monday, January 7th. Zacks Investment Research raised Cigna from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a research report on Friday, January 4th. Edward Jones began coverage on Cigna in a research note on Monday, December 24th. They set a “buy” rating and a $181.30 price target for the company. Goldman Sachs Group restated a “buy” rating on shares of Cigna in a research note on Saturday, February 2nd. Finally, ValuEngine upgraded Cigna from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $230.47.
Shares of NYSE:CI opened at $149.00 on Wednesday. Cigna has a fifty-two week low of $141.95 and a fifty-two week high of $226.60. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $55.29 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71.
In related news, insider Michael W. Triplett sold 9,148 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $181.01, for a total transaction of $1,655,879.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Zollars sold 272 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total value of $45,812.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,420 shares of company stock valued at $1,886,122. Corporate insiders own 0.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its holdings in Cigna by 42,687.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after purchasing an additional 31,678,514 shares in the last quarter. BlackRock Inc. lifted its holdings in Cigna by 59.4% in the 4th quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock worth $5,107,369,000 after purchasing an additional 10,021,719 shares in the last quarter. Norges Bank purchased a new position in Cigna in the 4th quarter worth approximately $737,238,000. Macquarie Group Ltd. lifted its holdings in Cigna by 1,413.5% in the 4th quarter. Macquarie Group Ltd. now owns 3,711,240 shares of the health services provider’s stock worth $704,890,000 after purchasing an additional 3,466,030 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Cigna by 179.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,456,861 shares of the health services provider’s stock worth $846,447,000 after purchasing an additional 2,860,291 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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