Cigna (NYSE:CI) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Cigna (NYSE:CIGet Rating) in a research report issued on Thursday, The Fly reports. The brokerage set a “market perform” rating on the health services provider’s stock.

A number of other analysts have also weighed in on the stock. StockNews.com assumed coverage on shares of Cigna in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. SVB Leerink upped their price target on shares of Cigna from $224.00 to $245.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 22nd. Oppenheimer upped their price target on shares of Cigna from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, May 9th. Deutsche Bank Aktiengesellschaft lowered shares of Cigna from a “buy” rating to a “hold” rating and reduced their price target for the stock from $271.00 to $236.00 in a research note on Friday, February 4th. Finally, BMO Capital Markets boosted their target price on shares of Cigna from $300.00 to $320.00 in a report on Monday, May 9th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $283.20.

Cigna stock traded up $3.13 during midday trading on Thursday, hitting $268.88. 1,694,797 shares of the stock were exchanged, compared to its average volume of 1,625,010. The company has a 50 day moving average price of $254.38 and a two-hundred day moving average price of $235.42. The firm has a market cap of $85.31 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.02 and a beta of 0.78. Cigna has a 1 year low of $191.74 and a 1 year high of $271.71. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.70.

Cigna (NYSE:CIGet Rating) last posted its quarterly earnings results on Friday, May 6th. The health services provider reported $6.01 EPS for the quarter, beating the consensus estimate of $5.13 by $0.88. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The business had revenue of $44.01 billion during the quarter, compared to analyst estimates of $43.48 billion. During the same period in the previous year, the business posted $4.73 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts predict that Cigna will post 22.66 EPS for the current year.

In other Cigna news, EVP Nicole S. Jones sold 12,070 shares of the stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $259.03, for a total transaction of $3,126,492.10. Following the sale, the executive vice president now owns 35,201 shares of the company’s stock, valued at approximately $9,118,115.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Everett Neville sold 268 shares of the stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $228.70, for a total transaction of $61,291.60. The disclosure for this sale can be found here. Insiders have sold a total of 142,998 shares of company stock valued at $37,628,011 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CI. Norges Bank acquired a new stake in shares of Cigna in the 4th quarter valued at approximately $747,950,000. Invesco Ltd. raised its position in shares of Cigna by 25.1% in the 1st quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider’s stock valued at $764,682,000 after acquiring an additional 639,645 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Cigna in the 4th quarter valued at approximately $96,383,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cigna in the 4th quarter valued at approximately $69,233,000. Finally, Conning Inc. raised its position in shares of Cigna by 7,038.3% in the 4th quarter. Conning Inc. now owns 243,272 shares of the health services provider’s stock valued at $55,822,000 after acquiring an additional 239,864 shares during the period. 88.57% of the stock is currently owned by institutional investors.

About Cigna (Get Rating)

Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

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