CIGNA (NYSE:CI) had its target price raised by research analysts at BMO Capital Markets from $220.00 to $230.00 in a report released on Friday, Marketbeat Ratings reports. The firm presently has a “hold” rating on the health services provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 7.92% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $212.00 price target for the company in a research note on Tuesday, August 7th. Cantor Fitzgerald assumed coverage on shares of CIGNA in a research note on Wednesday, September 26th. They set an “overweight” rating and a $245.00 price target for the company. ValuEngine cut shares of CIGNA from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Cowen assumed coverage on shares of CIGNA in a research note on Monday, September 17th. They set an “outperform” rating and a $240.00 price target for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $224.00 price target on shares of CIGNA in a research note on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. CIGNA presently has an average rating of “Buy” and a consensus price target of $233.14.
Shares of CI traded down $3.15 during mid-day trading on Friday, hitting $213.13. 2,279,425 shares of the company’s stock were exchanged, compared to its average volume of 2,458,497. The stock has a market capitalization of $51.87 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.23 and a beta of 0.58. CIGNA has a 52 week low of $163.02 and a 52 week high of $227.13. The company has a quick ratio of 0.38, a current ratio of 0.98 and a debt-to-equity ratio of 1.61.
CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.39. The company had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.19 billion. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $2.83 EPS. On average, sell-side analysts anticipate that CIGNA will post 14.35 earnings per share for the current fiscal year.
In other news, Director William D. Zollars sold 238 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $193.70, for a total value of $46,100.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. City Financial Investment Co Ltd acquired a new stake in CIGNA during the 2nd quarter valued at $2,343,000. Putnam Investments LLC lifted its holdings in CIGNA by 19.1% during the 2nd quarter. Putnam Investments LLC now owns 1,616,700 shares of the health services provider’s stock valued at $274,758,000 after purchasing an additional 259,280 shares during the last quarter. Swiss National Bank lifted its holdings in CIGNA by 1.6% during the 2nd quarter. Swiss National Bank now owns 884,174 shares of the health services provider’s stock valued at $150,265,000 after purchasing an additional 13,500 shares during the last quarter. Lingohr & Partner Asset Management GmbH acquired a new stake in CIGNA during the 2nd quarter valued at $1,405,000. Finally, Van ECK Associates Corp acquired a new stake in CIGNA during the 2nd quarter valued at $694,000. 89.08% of the stock is owned by institutional investors.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
Read More: How to Use the New Google Finance Tool
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.