Cigna Corporation (CI) Reaches New 52-Week High at $185.97

Shares of Cigna Corporation (NYSE:CI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $185.97 and last traded at $185.93, with a volume of 1,172,647 shares traded. The stock had previously closed at $184.56.

A number of analysts have recently issued reports on the company. UBS AG reaffirmed a “buy” rating and issued a $193.00 price target (up from $186.00) on shares of Cigna Corporation in a research note on Thursday, June 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $185.00 price target on shares of Cigna Corporation in a research note on Wednesday, August 9th. Deutsche Bank AG lifted their price target on Cigna Corporation from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Citigroup Inc. lifted their price target on Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $181.65.

The company’s 50 day moving average price is $178.08 and its 200-day moving average price is $164.25. The firm has a market cap of $46.72 billion, a P/E ratio of 21.41 and a beta of 0.43.

Cigna Corporation (NYSE:CI) last announced its earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. The firm had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. Cigna Corporation’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 EPS. Analysts expect that Cigna Corporation will post $10.02 EPS for the current fiscal year.

In other news, CEO David Cordani sold 153,168 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the sale, the chief executive officer now owns 421,162 shares in the company, valued at $71,681,772.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane E. Md Henney sold 600 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $174.14, for a total value of $104,484.00. The disclosure for this sale can be found here. Insiders have sold 222,342 shares of company stock worth $38,230,448 in the last 90 days. Insiders own 1.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its holdings in Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock valued at $145,000 after acquiring an additional 7 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Cigna Corporation by 1.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,112 shares of the health services provider’s stock valued at $309,000 after acquiring an additional 22 shares during the last quarter. Wetherby Asset Management Inc. boosted its holdings in Cigna Corporation by 0.8% in the second quarter. Wetherby Asset Management Inc. now owns 4,192 shares of the health services provider’s stock valued at $702,000 after acquiring an additional 33 shares during the last quarter. Cadence Capital Management LLC boosted its holdings in Cigna Corporation by 0.3% in the second quarter. Cadence Capital Management LLC now owns 9,598 shares of the health services provider’s stock valued at $1,607,000 after acquiring an additional 33 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its holdings in Cigna Corporation by 1.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,814 shares of the health services provider’s stock valued at $304,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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About Cigna Corporation

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

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