Shares of Cigna Co. (NYSE:CI – Get Rating) have earned an average recommendation of "Moderate Buy" from the twenty-six research firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $305.58.
A number of research firms recently issued reports on CI. Credit Suisse Group boosted their target price on shares of Cigna from $315.00 to $329.00 and gave the company an "outperform" rating in a research report on Monday, August 8th. Royal Bank of Canada boosted their target price on shares of Cigna from $272.00 to $294.00 in a research report on Friday, August 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cigna from $236.00 to $284.00 in a report on Thursday, June 9th. Truist Financial upped their price objective on shares of Cigna from $310.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, July 14th. Finally, Oppenheimer upped their price objective on shares of Cigna from $310.00 to $320.00 and gave the stock an "outperform" rating in a report on Monday, August 8th.
Get Cigna alerts:Cigna Stock Down 0.7 %
Shares of NYSE CI opened at $282.90 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 0.72. Cigna has a 52-week low of $191.74 and a 52-week high of $296.29. The company's 50 day moving average price is $283.36 and its 200-day moving average price is $265.05. The company has a market capitalization of $86.32 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.13 and a beta of 0.71.
Cigna (NYSE:CI – Get Rating) last released its earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.62 by $0.60. Cigna had a net margin of 3.05% and a return on equity of 15.91%. The company had revenue of $45.48 billion for the quarter, compared to the consensus estimate of $44.34 billion. During the same quarter in the previous year, the company earned $5.24 EPS. Cigna's quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that Cigna will post 22.9 earnings per share for the current year.Cigna Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th were given a dividend of $1.12 per share. The ex-dividend date was Tuesday, September 6th. This represents a $4.48 annualized dividend and a yield of 1.58%. Cigna's payout ratio is currently 26.71%.
Insider Activity at Cigna
In other Cigna news, insider Michael W. Triplett sold 8,260 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $292.76, for a total transaction of $2,418,197.60. Following the completion of the transaction, the insider now owns 25,091 shares in the company, valued at $7,345,641.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cigna news, insider Michael W. Triplett sold 8,260 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $292.76, for a total transaction of $2,418,197.60. Following the completion of the transaction, the insider now owns 25,091 shares in the company, valued at $7,345,641.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric P. Palmer sold 6,521 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $275.00, for a total transaction of $1,793,275.00. Following the transaction, the chief executive officer now owns 39,978 shares of the company's stock, valued at approximately $10,993,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,158 shares of company stock worth $11,581,956. 0.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On Cigna
A number of institutional investors and hedge funds have recently modified their holdings of CI. Norges Bank purchased a new stake in Cigna in the fourth quarter valued at approximately $747,950,000. FMR LLC raised its stake in Cigna by 7.6% in the second quarter. FMR LLC now owns 14,279,334 shares of the health services provider's stock valued at $3,762,889,000 after purchasing an additional 1,012,086 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in Cigna in the second quarter valued at approximately $214,688,000. Invesco Ltd. raised its stake in Cigna by 25.1% in the first quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider's stock valued at $764,682,000 after purchasing an additional 639,645 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Cigna in the fourth quarter valued at approximately $96,383,000. 89.54% of the stock is owned by hedge funds and other institutional investors.
About Cigna
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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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