Cigna (NYSE:CI) Research Coverage Started at Sanford C. Bernstein

Analysts at Sanford C. Bernstein assumed coverage on shares of Cigna (NYSE:CIGet 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.

Cigna (NYSE:CIGet Rating) last issued 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 $5.13 by $0.88. The firm had revenue of $44.01 billion for the quarter, compared to analyst estimates of $43.48 billion. Cigna had a return on equity of 15.31% and a net margin of 3.04%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $4.73 EPS. As a group, research analysts expect that Cigna will post 22.66 earnings per share for the current year.

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.

Featured Stories

The Fly logo

Analyst Recommendations for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.