CIGNA Co. (CI) Receives $164.50 Average Price Target from Analysts

Shares of CIGNA Co. (NYSE:CI) have received an average rating of “Buy” from the sixteen ratings firms that are covering the firm. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $167.57.

Several research analysts recently issued reports on CI shares. Deutsche Bank AG started coverage on CIGNA in a research report on Wednesday, April 5th. They set a “buy” rating and a $172.00 target price on the stock. Bank of America Corp initiated coverage on CIGNA in a research report on Monday, March 13th. They set a “buy” rating and a $175.00 target price on the stock. They noted that the move was a valuation call. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating and issued a $178.00 price objective (up from $172.00) on shares of CIGNA in a report on Sunday, April 23rd. Finally, Citigroup Inc increased their price objective on CIGNA from $139.00 to $163.00 and gave the company a “buy” rating in a report on Monday, January 23rd.

CIGNA (NYSE:CI) opened at 159.48 on Monday. The company has a 50 day moving average of $155.86 and a 200-day moving average of $145.54. CIGNA has a one year low of $115.03 and a one year high of $164.88. The stock has a market capitalization of $40.83 billion, a P/E ratio of 21.29 and a beta of 0.53.

CIGNA (NYSE:CI) last announced its earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.33. CIGNA had a return on equity of 15.77% and a net margin of 4.71%. The company had revenue of $10.39 billion for the quarter, compared to analyst estimates of $10.11 billion. During the same period in the prior year, the company posted $2.46 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that CIGNA will post $9.63 earnings per share for the current fiscal year.

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In other CIGNA news, CEO David Cordani sold 43,637 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $147.78, for a total transaction of $6,448,675.86. Following the transaction, the chief executive officer now owns 306,194 shares in the company, valued at $45,249,349.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicole S. Jones sold 20,312 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total value of $3,250,732.48. Following the transaction, the executive vice president now owns 44,737 shares in the company, valued at approximately $7,159,709.48. The disclosure for this sale can be found here. Insiders sold 81,535 shares of company stock worth $12,305,734 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of CIGNA by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after buying an additional 16,289,943 shares during the last quarter. Dodge & Cox purchased a new position in shares of CIGNA during the fourth quarter worth approximately $1,929,534,000. Glenview Capital Management LLC purchased a new position in shares of CIGNA during the fourth quarter worth approximately $755,266,000. Norges Bank purchased a new position in shares of CIGNA during the fourth quarter worth approximately $348,456,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of CIGNA by 18.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 13,896,503 shares of the health services provider’s stock worth $1,810,992,000 after buying an additional 2,180,508 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

CIGNA Company Profile

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.

12 Month Chart for NYSE:CI

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