Analysts at Sanford C. Bernstein assumed coverage on shares of Cigna (NYSE:CI – Get Rating) in a research report issued on Thursday, The Fly reports. The firm set a “market perform” rating on the health services provider’s stock.
Several other equities research analysts have also weighed in on CI. Barclays lifted their price target on Cigna from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho lifted their price target on Cigna from $266.00 to $291.00 in a research report on Monday, May 9th. Wells Fargo & Company lifted their price target on Cigna from $278.00 to $306.00 in a research report on Monday, May 9th. Royal Bank of Canada lifted their price target on Cigna from $235.00 to $272.00 in a research report on Monday, May 9th. Finally, BMO Capital Markets boosted their target price on Cigna from $300.00 to $320.00 in a report on Monday, May 9th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $283.20.
Cigna stock traded up $3.13 during trading hours on Thursday, reaching $268.88. The company had a trading volume of 1,694,797 shares, compared to its average volume of 1,625,010. The firm has a market cap of $85.31 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.02 and a beta of 0.78. Cigna has a 12-month low of $191.74 and a 12-month high of $271.71. The company has a 50-day moving average price of $254.38 and a 200 day moving average price of $235.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.70.
In other Cigna news, CEO David Cordani sold 10,069 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $228.70, for a total transaction of $2,302,780.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicole S. Jones sold 5,901 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $270.00, for a total value of $1,593,270.00. Following the completion of the sale, the executive vice president now owns 36,908 shares in the company, valued at $9,965,160. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,998 shares of company stock valued at $37,628,011. 0.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CI. Norges Bank purchased a new position in Cigna during the 4th quarter worth $747,950,000. Invesco Ltd. increased its holdings in Cigna by 25.1% during the 1st quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider’s stock worth $764,682,000 after purchasing an additional 639,645 shares during the period. Point72 Asset Management L.P. purchased a new position in Cigna during the 4th quarter worth $96,383,000. Allspring Global Investments Holdings LLC bought a new stake in Cigna during the 4th quarter valued at $69,233,000. Finally, Conning Inc. boosted its position in Cigna by 7,038.3% during the 4th quarter. Conning Inc. now owns 243,272 shares of the health services provider’s stock valued at $55,822,000 after acquiring an additional 239,864 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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