According to Zacks, “Cigna’s pending merger with Anthem is facing friction with the regulators and the company is now engaged in a legal tussle of the same. The deal, which would have helped the company to gain the leading position in the industry, now remains uncertain. Forex volatility, share buyback suspension, merger-related charges will drain the bottom line going forward. An underperforming Disability and life business also raises concerns. Also restriction imposed by the CMS on the sale of Medicare Advantage plan is a headwind. Nonetheless, the company is poised for long-term growth from its superior performing Global Supplemental business, growing Government business and increasing membership. A strong capital position is another positive. The company's third quarter Zacks Consensus earning estimate is pegged at $1.90 per share which translates into year over year decline of 16.62%. “
Other analysts have also issued research reports about the company. Jefferies Group decreased their price objective on Cigna Corp. from $160.00 to $153.00 and set a buy rating on the stock in a report on Monday, August 1st. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $149.00 price target on shares of Cigna Corp. in a research note on Friday, July 8th. Goldman Sachs Group Inc. raised Cigna Corp. from a buy rating to a conviction-buy rating and decreased their price target for the company from $170.00 to $165.00 in a research note on Friday, July 22nd. Citigroup Inc. decreased their price target on Cigna Corp. from $174.00 to $146.00 and set a buy rating on the stock in a research note on Wednesday, August 3rd. Finally, Leerink Swann decreased their price target on Cigna Corp. from $160.00 to $155.00 and set an outperform rating on the stock in a research note on Monday, August 1st. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $157.65.
Cigna Corp. (NYSE:CI) opened at 127.23 on Tuesday. The stock’s 50 day moving average price is $129.53 and its 200-day moving average price is $131.49. The firm has a market capitalization of $32.64 billion, a price-to-earnings ratio of 16.50 and a beta of 0.43. Cigna Corp. has a one year low of $121.87 and a one year high of $148.99.
Cigna Corp. (NYSE:CI) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by $0.41. Cigna Corp. had a return on equity of 17.60% and a net margin of 5.16%. The firm had revenue of $9.89 billion for the quarter, compared to analyst estimates of $9.98 billion. During the same period in the previous year, the business posted $2.55 EPS. Cigna Corp.’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna Corp. will post $7.99 earnings per share for the current fiscal year.
In related news, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $132.28, for a total value of $66,140.00. Following the completion of the sale, the vice president now owns 4,017 shares in the company, valued at $531,368.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its stake in Cigna Corp. by 166.7% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $102,000 after buying an additional 500 shares in the last quarter. Invictus RG boosted its position in Cigna Corp. by 1,056.8% in the second quarter. Invictus RG now owns 1,018 shares of the company’s stock worth $130,000 after buying an additional 930 shares during the last quarter. M&R Capital Management Inc. acquired a new position in Cigna Corp. during the second quarter worth about $153,000. Johnson Financial Group Inc. boosted its position in Cigna Corp. by 996.9% in the second quarter. Johnson Financial Group Inc. now owns 1,426 shares of the company’s stock worth $183,000 after buying an additional 1,296 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its position in Cigna Corp. by 2,981.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,510 shares of the company’s stock worth $193,000 after buying an additional 1,461 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.
About Cigna Corp.
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, Other Operations and Corporate.
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