Investors Buy Cigna Corporation (CI) on Weakness on Insider Selling

Investors purchased shares of Cigna Corporation (NYSE:CI) on weakness during trading hours on Monday following insider selling activity. $68.66 million flowed into the stock on the tick-up and $46.86 million flowed out of the stock on the tick-down, for a money net flow of $21.80 million into the stock. Of all equities tracked, Cigna Corporation had the 25th highest net in-flow for the day. Cigna Corporation traded down ($0.37) for the day and closed at $197.61Specifically, Director William D. Zollars sold 1,232 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total transaction of $230,667.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,054 shares of company stock worth $389,721. 1.30% of the stock is owned by company insiders.

Several research firms have recently issued reports on CI. Citigroup Inc. increased their target price on Cigna Corporation from $198.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Jefferies Group LLC increased their target price on Cigna Corporation from $221.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Morgan Stanley increased their target price on Cigna Corporation from $195.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price (up from $185.00) on shares of Cigna Corporation in a report on Friday, November 3rd. Finally, Zacks Investment Research lowered Cigna Corporation from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $201.50.

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. The firm has a market cap of $48,360.00, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.51 and a beta of 0.49.

Cigna Corporation (NYSE:CI) last posted its earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.36 by $0.47. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.17 billion. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. research analysts expect that Cigna Corporation will post 10.34 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Saratoga Research & Investment Management bought a new position in Cigna Corporation in the third quarter valued at about $112,000. Riverhead Capital Management LLC raised its position in Cigna Corporation by 159.3% in the second quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after purchasing an additional 3,386 shares during the last quarter. Pacer Advisors Inc. raised its position in Cigna Corporation by 3.0% in the second quarter. Pacer Advisors Inc. now owns 5,581 shares of the health services provider’s stock valued at $934,000 after purchasing an additional 165 shares during the last quarter. Norinchukin Bank The raised its position in Cigna Corporation by 6.4% in the second quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock valued at $2,974,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Seven Eight Capital LP raised its position in Cigna Corporation by 504.4% in the second quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock valued at $4,553,000 after purchasing an additional 22,700 shares during the last quarter. Hedge funds and other institutional investors own 89.69% 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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