Cigna (NYSE:CI) Stock Rating Upgraded by Bank of America

Cigna (NYSE:CIGet Rating) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Thursday, The Fly reports.

A number of other analysts also recently commented on the company. Morgan Stanley lowered 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. Cowen raised shares of Cigna from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $242.00 to $329.00 in a research note on Monday, May 9th. Barclays increased their price target on shares of Cigna from $275.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday. Mizuho lifted their price objective on shares of Cigna from $266.00 to $291.00 in a report on Monday, May 9th. Finally, Cowen upgraded Cigna from a “market perform” rating to an “outperform” rating and raised their target price for the company from $242.00 to $329.00 in a research report on Monday, May 9th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $280.20.

CI stock opened at $265.75 on Thursday. The stock has a market capitalization of $84.32 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.78. Cigna has a 52 week low of $191.74 and a 52 week high of $271.71. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $253.82 and a 200 day moving average of $235.07.

Cigna (NYSE:CIGet Rating) last posted its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 EPS for the quarter, topping the consensus estimate of $5.13 by $0.88. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The business had revenue of $44.01 billion during the quarter, compared to the consensus estimate of $43.48 billion. During the same period in the previous year, the firm posted $4.73 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Cigna will post 22.66 earnings per share for the current year.

In other news, CEO David Cordani sold 10,069 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $228.70, for a total transaction of $2,302,780.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Everett Neville sold 268 shares of the firm’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $228.70, for a total transaction of $61,291.60. The disclosure for this sale can be found here. Insiders sold a total of 142,998 shares of company stock worth $37,628,011 in the last 90 days. 0.80% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in Cigna by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the health services provider’s stock valued at $130,000 after buying an additional 78 shares in the last quarter. M Holdings Securities Inc. purchased a new position in Cigna in the 1st quarter valued at approximately $787,000. Sanders Capital LLC raised its holdings in Cigna by 0.3% during the first quarter. Sanders Capital LLC now owns 7,479,977 shares of the health services provider’s stock worth $1,963,220,000 after purchasing an additional 21,880 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Cigna by 18.8% during the first quarter. EP Wealth Advisors LLC now owns 2,966 shares of the health services provider’s stock worth $711,000 after purchasing an additional 470 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Cigna by 33.6% in the first quarter. The Manufacturers Life Insurance Company now owns 339,852 shares of the health services provider’s stock valued at $81,998,000 after purchasing an additional 85,507 shares during the last quarter. 88.57% of the stock is owned by 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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