Cigna Co. (NYSE:CI) Receives Average Recommendation of “Buy” from Analysts

Shares of Cigna Co. (NYSE:CIGet Rating) have earned a consensus recommendation of “Buy” from the twenty-seven analysts that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $286.84.

CI has been the topic of a number of analyst reports. Truist Financial raised their price target on Cigna from $290.00 to $310.00 in a research note on Monday, May 9th. Cowen raised Cigna from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $242.00 to $329.00 in a report on Monday, May 9th. Mizuho raised their price target on Cigna from $266.00 to $291.00 in a report on Monday, May 9th. Sanford C. Bernstein raised their price target on Cigna from $258.00 to $301.00 and gave the stock a “mkt perform” rating in a report on Friday, May 27th. Finally, Cowen raised Cigna from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $242.00 to $329.00 in a report on Monday, May 9th.

In related news, EVP Everett Neville sold 999 shares of the company’s stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $250.00, for a total transaction of $249,750.00. Following the completion of the sale, the executive vice president now directly owns 7,200 shares of the company’s stock, valued at approximately $1,800,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 3,717 shares of the business’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $260.89, for a total transaction of $969,728.13. Following the completion of the transaction, the chief executive officer now owns 145,126 shares in the company, valued at approximately $37,861,922.14. The disclosure for this sale can be found here. Insiders have sold a total of 132,372 shares of company stock valued at $35,194,868 over the last three months. Corporate insiders own 0.80% of the company’s stock.

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

Shares of NYSE CI opened at $262.28 on Wednesday. The stock has a market cap of $83.21 billion, a P/E ratio of 16.27, a PEG ratio of 1.01 and a beta of 0.77. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. Cigna has a 12-month low of $191.74 and a 12-month high of $273.58. The business’s fifty day simple moving average is $257.90 and its 200-day simple moving average is $238.23.

Cigna (NYSE:CIGet Rating) last announced its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.88. Cigna had a return on equity of 15.31% and a net margin of 3.04%. The business had revenue of $44.01 billion for the quarter, compared to analysts’ expectations of $43.48 billion. During the same period last year, the firm earned $4.73 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Cigna will post 22.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $4.48 annualized dividend and a dividend yield of 1.71%. Cigna’s dividend payout ratio is presently 27.79%.

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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