CIGNA Co. (NYSE:CI) has been given a consensus rating of “Buy” by the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $211.50.
A number of brokerages have recently issued reports on CI. Barclays began coverage on shares of CIGNA in a research note on Thursday. They issued an “overweight” rating and a $235.00 price objective for the company. Oppenheimer upped their price objective on shares of CIGNA to $237.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Goldman Sachs Group began coverage on shares of CIGNA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective for the company. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price objective for the company in a research note on Friday, December 22nd. Finally, ValuEngine raised shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.
Shares of CIGNA (CI) traded up $1.31 during trading on Friday, hitting $173.36. 6,220,000 shares of the stock were exchanged, compared to its average volume of 2,110,000. CIGNA has a 12 month low of $143.85 and a 12 month high of $227.13. The stock has a market cap of $43,080.00, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Monday, March 12th will be issued a $0.04 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.16 annualized dividend and a yield of 0.09%. CIGNA’s dividend payout ratio (DPR) is presently 0.41%.
In other CIGNA news, CEO David Cordani sold 36,769 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $191.68, for a total value of $7,047,881.92. Following the completion of the transaction, the chief executive officer now directly owns 372,076 shares in the company, valued at approximately $71,319,527.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicole S. Jones sold 5,856 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $190.68, for a total transaction of $1,116,622.08. Following the completion of the transaction, the executive vice president now owns 36,658 shares of the company’s stock, valued at $6,989,947.44. The disclosure for this sale can be found here. Insiders sold a total of 86,315 shares of company stock valued at $17,262,334 over the last 90 days. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ascension Asset Management LLC bought a new position in CIGNA in the 4th quarter worth $473,000. Iguana Healthcare Management LLC increased its stake in shares of CIGNA by 51.4% in the 3rd quarter. Iguana Healthcare Management LLC now owns 26,500 shares of the health services provider’s stock worth $4,954,000 after acquiring an additional 9,000 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of CIGNA by 3.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 904,143 shares of the health services provider’s stock worth $183,623,000 after acquiring an additional 29,553 shares in the last quarter. Sectoral Asset Management Inc increased its stake in shares of CIGNA by 194.1% in the 3rd quarter. Sectoral Asset Management Inc now owns 45,615 shares of the health services provider’s stock worth $8,527,000 after acquiring an additional 30,105 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of CIGNA by 13.9% in the 4th quarter. Eagle Asset Management Inc. now owns 216,769 shares of the health services provider’s stock worth $43,850,000 after acquiring an additional 26,440 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.
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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.
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