Deutsche Bank initiated coverage on shares of Cigna (NYSE:CI) in a report released on Thursday morning, 24/7 WallStreet reports. The firm issued a buy rating and a $207.00 price objective on the health services provider’s stock.
Several other analysts also recently commented on the stock. Morgan Stanley reduced their price target on shares of Cigna from $241.00 to $207.00 and set an overweight rating for the company in a research report on Friday, July 12th. Raymond James upped their price target on shares of Cigna from $185.00 to $190.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Oppenheimer set a $254.00 price target on shares of Cigna and gave the company a buy rating in a research report on Tuesday. ValuEngine downgraded shares of Cigna from a hold rating to a sell rating in a research report on Tuesday, July 23rd. Finally, Stephens set a $225.00 price target on shares of Cigna and gave the company a buy rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. Cigna has a consensus rating of Buy and a consensus price target of $214.90.
CI stock traded up $2.20 on Thursday, hitting $161.18. The company’s stock had a trading volume of 98,332 shares, compared to its average volume of 1,965,254. The firm has a 50 day moving average of $160.99 and a two-hundred day moving average of $161.69. Cigna has a 1 year low of $141.95 and a 1 year high of $226.60. The stock has a market cap of $62.30 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 0.84 and a beta of 0.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84.
Cigna (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, beating the consensus estimate of $3.74 by $0.56. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The firm had revenue of $34.38 billion during the quarter, compared to the consensus estimate of $33.27 billion. During the same quarter in the prior year, the firm earned $3.89 EPS. Cigna’s revenue for the quarter was up 198.9% on a year-over-year basis. As a group, equities analysts forecast that Cigna will post 16.75 EPS for the current fiscal year.
In other news, CEO David Cordani acquired 32,509 shares of the company’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $155.17 per share, with a total value of $5,044,421.53. Insiders own 0.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. acquired a new position in shares of Cigna during the 2nd quarter worth $28,000. Virtus ETF Advisers LLC acquired a new position in shares of Cigna during the 2nd quarter worth $30,000. TRUE Private Wealth Advisors acquired a new position in shares of Cigna during the 2nd quarter worth $40,000. Prime Capital Investment Advisors LLC grew its stake in shares of Cigna by 32.5% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 257 shares of the health services provider’s stock worth $40,000 after purchasing an additional 63 shares during the period. Finally, Trustcore Financial Services LLC acquired a new position in shares of Cigna during the 1st quarter worth $49,000. 87.46% 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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