Barclays Lowers Cigna (CI) Price Target to $207.00

Cigna (NYSE:CI) had its price target reduced by Barclays from $220.00 to $207.00 in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the health services provider’s stock.

Several other research analysts have also recently issued reports on CI. Zacks Investment Research raised Cigna from a hold rating to a buy rating and set a $208.00 target price on the stock in a research report on Friday, January 4th. ValuEngine raised Cigna from a sell rating to a hold rating in a research report on Thursday, January 3rd. Credit Suisse Group reaffirmed a buy rating and set a $250.00 target price on shares of Cigna in a research report on Monday, January 7th. Edward Jones began coverage on Cigna in a research report on Monday, December 24th. They set a buy rating and a $181.30 target price on the stock. Finally, Stephens began coverage on Cigna in a research report on Monday, January 14th. They set an overweight rating and a $251.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Cigna currently has an average rating of Buy and a consensus target price of $230.47.

Shares of NYSE:CI opened at $149.00 on Wednesday. The company has a market cap of $56.63 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.73 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.42 and a current ratio of 0.42. Cigna has a 12-month low of $141.95 and a 12-month high of $226.60.

Cigna (NYSE:CI) last announced its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.53 by ($0.07). The company had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $11.38 billion. Cigna had a net margin of 5.42% and a return on equity of 16.64%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. As a group, research analysts predict that Cigna will post 16.43 earnings per share for the current fiscal year.

The firm also recently disclosed a special dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, March 11th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s dividend payout ratio is currently 0.28%.

In other Cigna news, Director John Partridge sold 1,000 shares of the business’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $184.43, for a total value of $184,430.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael W. Triplett sold 9,148 shares of the business’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $181.01, for a total value of $1,655,879.48. The disclosure for this sale can be found here. In the last three months, insiders sold 10,420 shares of company stock worth $1,886,122. Insiders own 0.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CI. Oregon Public Employees Retirement Fund raised its stake in shares of Cigna by 42,687.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock valued at $167,000 after buying an additional 31,678,514 shares during the period. BlackRock Inc. raised its stake in shares of Cigna by 59.4% in the fourth quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock valued at $5,107,369,000 after buying an additional 10,021,719 shares during the period. Norges Bank bought a new stake in shares of Cigna in the fourth quarter valued at $737,238,000. Macquarie Group Ltd. raised its stake in shares of Cigna by 1,413.5% in the fourth quarter. Macquarie Group Ltd. now owns 3,711,240 shares of the health services provider’s stock valued at $704,890,000 after buying an additional 3,466,030 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Cigna by 179.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,456,861 shares of the health services provider’s stock valued at $846,447,000 after buying an additional 2,860,291 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Cigna Company Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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