Cigna (NYSE:CI) Price Target Raised to $306.00

Cigna (NYSE:CIGet Rating) had its target price raised by equities research analysts at Wells Fargo & Company from $278.00 to $306.00 in a research report issued to clients and investors on Monday, The Fly reports. Wells Fargo & Company‘s price objective would suggest a potential upside of 14.65% from the stock’s previous close.

A number of other analysts have also recently weighed in on CI. Royal Bank of Canada cut Cigna from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $304.00 to $235.00 in a research report on Monday, February 7th. Sanford C. Bernstein raised their price objective on Cigna from $234.00 to $258.00 in a research report on Tuesday, January 11th. Cowen raised Cigna from a “market perform” rating to an “outperform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft cut Cigna from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $271.00 to $236.00 in a research report on Friday, February 4th. Finally, Morgan Stanley lowered their price target on Cigna from $238.00 to $235.00 and set an “equal weight” rating for the company in a research report on Thursday, February 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $270.63.

Shares of NYSE:CI opened at $266.90 on Monday. Cigna has a 12-month low of $191.74 and a 12-month high of $272.81. The business’s fifty day simple moving average is $246.69 and its 200-day simple moving average is $231.05. The company has a market capitalization 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 (NYSE:CIGet Rating) last posted its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.83. The firm had revenue of $44.01 billion during the quarter, compared to analysts’ expectations of $43.48 billion. Cigna had a return on equity of 14.59% and a net margin of 3.08%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.73 EPS. Research analysts predict that Cigna will post 22.5 EPS for the current year.

In related news, EVP Everett Neville sold 268 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 $61,291.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 10,069 shares of Cigna stock in a transaction dated Monday, February 28th. The shares were 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 90 days, insiders sold 91,836 shares of company stock valued at $23,795,261. 0.80% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Country Trust Bank increased its stake in Cigna by 116.7% during the 1st quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Missouri Trust & Investment Co purchased a new stake in Cigna during the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. purchased a new stake in Cigna during the 1st quarter worth approximately $30,000. Exane Derivatives increased 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 in the last quarter. Finally, Wagner Wealth Management LLC increased its stake in Cigna by 144.4% during the 4th quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

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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