Cigna (NYSE:CI) Given New $310.00 Price Target at Truist Financial

Cigna (NYSE:CIGet Rating) had its price target hoisted by research analysts at Truist Financial from $290.00 to $310.00 in a research report issued to clients and investors on Monday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 16.15% from the stock’s current price.

CI has been the topic of several other research reports. StockNews.com assumed coverage on Cigna in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Mizuho upped their price target on Cigna from $266.00 to $291.00 in a research note on Monday. Cowen raised Cigna from a “market perform” rating to an “outperform” rating in a research note on Monday. Stephens upped their price target on Cigna from $265.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Finally, Morgan Stanley cut their target price on Cigna from $238.00 to $235.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $268.09.

CI opened at $266.90 on Monday. The stock has a market cap of $84.97 billion, a PE ratio of 16.56, a P/E/G ratio of 1.07 and a beta of 0.78. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.66. Cigna has a 1 year low of $191.74 and a 1 year high of $272.81. The stock’s 50 day simple moving average is $246.69 and its 200-day simple moving average is $231.05.

Cigna (NYSE:CIGet Rating) last announced its quarterly earnings results on Friday, May 6th. The health services provider reported $6.01 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.83. Cigna had a return on equity of 14.59% and a net margin of 3.08%. The firm had revenue of $44.01 billion for the quarter, compared to analysts’ expectations of $43.48 billion. During the same period in the prior year, the business posted $4.73 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. Equities analysts forecast that Cigna will post 22.5 earnings per share for the current fiscal year.

In other Cigna news, CEO Eric P. Palmer sold 8,126 shares of Cigna stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,031,500.00. Following the transaction, the chief executive officer now directly owns 40,942 shares of the company’s stock, valued at approximately $10,235,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 10,069 shares of Cigna stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $228.70, for a total value of $2,302,780.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,836 shares of company stock worth $23,795,261. Corporate insiders own 0.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Country Trust Bank lifted its stake in shares of Cigna by 116.7% in the 1st quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 56 shares during the period. Missouri Trust & Investment Co acquired a new position in shares of Cigna in the 4th quarter valued at about $28,000. Wagner Wealth Management LLC lifted its stake in shares of Cigna by 144.4% in the 4th quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Exane Derivatives raised its stake in Cigna by 6,200.0% during the 1st quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock worth $30,000 after buying an additional 124 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new position in Cigna during the 1st quarter worth approximately $30,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Cigna Company Profile (Get Rating)

Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

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