Cigna (CI) Trading Down 4.7% Following Analyst Downgrade

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Cigna Corp (NYSE:CI) shares traded down 4.7% during trading on Wednesday after Barclays lowered their price target on the stock from $220.00 to $207.00. Barclays currently has an overweight rating on the stock. Cigna traded as low as $150.51 and last traded at $143.92. 5,102,028 shares were traded during mid-day trading, an increase of 107% from the average session volume of 2,467,634 shares. The stock had previously closed at $151.04.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Cigna from a “hold” rating to a “buy” rating and set a $208.00 price target for the company in a research report on Friday, January 4th. ValuEngine upgraded Cigna from a “sell” rating to a “hold” rating in a research report on Thursday, January 3rd. Credit Suisse Group reiterated a “buy” rating and set a $250.00 price target on shares of Cigna in a research report on Monday, January 7th. Edward Jones started coverage on Cigna in a research report on Monday, December 24th. They set a “buy” rating and a $181.30 price target for the company. Finally, Stephens started coverage on Cigna in a research report on Monday, January 14th. They set an “overweight” rating and a $251.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Cigna presently has an average rating of “Buy” and a consensus price target of $230.47.

In other Cigna news, Director William D. Zollars sold 272 shares of Cigna stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael W. Triplett sold 9,148 shares of Cigna stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $181.01, for a total value of $1,655,879.48. The disclosure for this sale can be found here. Insiders sold a total of 10,420 shares of company stock valued at $1,886,122 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Mascoma Wealth Management LLC increased its stake in shares of Cigna by 8.1% during the fourth quarter. Mascoma Wealth Management LLC now owns 709 shares of the health services provider’s stock valued at $135,000 after buying an additional 53 shares during the period. Howe & Rusling Inc. boosted its position in shares of Cigna by 1.3% during the fourth quarter. Howe & Rusling Inc. now owns 4,585 shares of the health services provider’s stock valued at $871,000 after purchasing an additional 61 shares in the last quarter. Accurate Investment Solutions Inc. boosted its position in shares of Cigna by 9.5% during the first quarter. Accurate Investment Solutions Inc. now owns 706 shares of the health services provider’s stock valued at $114,000 after purchasing an additional 61 shares in the last quarter. CX Institutional boosted its position in shares of Cigna by 1.9% during the first quarter. CX Institutional now owns 3,523 shares of the health services provider’s stock valued at $567,000 after purchasing an additional 66 shares in the last quarter. Finally, First Command Bank boosted its position in shares of Cigna by 11.8% during the fourth quarter. First Command Bank now owns 636 shares of the health services provider’s stock valued at $121,000 after purchasing an additional 67 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. The stock has a market cap of $62.26 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.81 and a beta of 0.71.

Cigna (NYSE:CI) last released its quarterly earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The firm had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities analysts forecast that Cigna Corp will post 16.41 EPS for the current fiscal year.

The company also recently declared a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s dividend payout ratio is presently 0.28%.

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Cigna Company Profile (NYSE:CI)

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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