CIGNA (CI) Price Target Raised to $260.00 at Leerink Swann

CIGNA (NYSE:CI) had its price objective raised by analysts at Leerink Swann from $250.00 to $260.00 in a research report issued on Monday, November 19th, The Fly reports. The firm presently has an “outperform” rating on the health services provider’s stock. Leerink Swann’s price target indicates a potential upside of 19.35% from the company’s previous close. Leerink Swann also issued estimates for CIGNA’s FY2019 earnings at $22.30 EPS, FY2020 earnings at $21.20 EPS and FY2021 earnings at $21.40 EPS.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research restated a “strong-buy” rating and issued a $246.00 price objective on shares of CIGNA in a report on Monday, November 12th. SunTrust Banks increased their target price on shares of CIGNA and gave the stock a “buy” rating in a report on Thursday, September 27th. Barclays increased their target price on shares of CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Credit Suisse Group increased their target price on shares of CIGNA from $223.00 to $237.00 and gave the stock an “outperform” rating in a report on Tuesday, September 18th. Finally, Cantor Fitzgerald assumed coverage on shares of CIGNA in a report on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 target price on the stock. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $236.29.

NYSE CI opened at $217.84 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $54.40 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.54. CIGNA has a twelve month low of $163.02 and a twelve month high of $227.13.

CIGNA (NYSE:CI) last issued its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.39. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The firm had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the firm earned $2.83 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that CIGNA will post 14.35 earnings per share for the current fiscal year.

In other news, Director William D. Zollars sold 238 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $193.70, for a total transaction of $46,100.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael W. Triplett sold 2,825 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $214.25, for a total transaction of $605,256.25. Following the sale, the insider now owns 23,871 shares of the company’s stock, valued at approximately $5,114,361.75. The disclosure for this sale can be found here. In the last three months, insiders sold 24,252 shares of company stock valued at $5,164,402. Insiders own 1.10% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Pennsylvania Trust Co increased its holdings in CIGNA by 1.2% in the 3rd quarter. Pennsylvania Trust Co now owns 20,363 shares of the health services provider’s stock valued at $4,241,000 after buying an additional 245 shares during the period. Aviance Capital Partners LLC increased its holdings in CIGNA by 4.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,352 shares of the health services provider’s stock valued at $1,323,000 after buying an additional 250 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in CIGNA by 8.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 3,662 shares of the health services provider’s stock valued at $763,000 after buying an additional 292 shares during the period. Huntington National Bank increased its holdings in CIGNA by 22.2% in the 2nd quarter. Huntington National Bank now owns 1,617 shares of the health services provider’s stock valued at $275,000 after buying an additional 294 shares during the period. Finally, Boston Financial Mangement LLC increased its holdings in CIGNA by 15.8% in the 2nd quarter. Boston Financial Mangement LLC now owns 2,315 shares of the health services provider’s stock valued at $393,000 after buying an additional 315 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

CIGNA Company Profile

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.

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