Raymond James Increases Cigna (NYSE:CI) Price Target to $300.00

Cigna (NYSE:CIGet Rating) had its target price raised by Raymond James from $275.00 to $300.00 in a research report sent to investors on Tuesday, The Fly reports.

CI has been the topic of several other research reports. Cowen upgraded shares of Cigna from a market perform rating to an outperform rating and raised their price target for the company from $242.00 to $329.00 in a research report on Monday, May 9th. Mizuho lifted their target price on shares of Cigna from $266.00 to $291.00 in a research report on Monday, May 9th. Morgan Stanley dropped their target price on shares of Cigna from $238.00 to $235.00 and set an equal weight rating on the stock in a research report on Thursday, February 10th. BMO Capital Markets lifted their target price on shares of Cigna from $300.00 to $320.00 in a research report on Monday, May 9th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Cigna from a buy rating to a hold rating and dropped their target price for the company from $271.00 to $236.00 in a research report on Friday, February 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $276.63.

Shares of Cigna stock opened at $259.19 on Tuesday. The stock has a market cap of $82.23 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.04 and a beta of 0.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a fifty day moving average price of $248.82 and a 200 day moving average price of $232.38. Cigna has a 1 year low of $191.74 and a 1 year high of $269.97.

Cigna (NYSE:CIGet Rating) last released its quarterly earnings results on Friday, May 6th. The health services provider reported $6.01 EPS for the quarter, beating the consensus estimate of $5.13 by $0.88. The company had revenue of $44.01 billion for the quarter, compared to analyst estimates of $43.48 billion. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $4.73 earnings per share. As a group, equities analysts expect that Cigna will post 22.66 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, June 7th. Cigna’s dividend payout ratio (DPR) is 27.79%.

In other Cigna news, EVP Nicole S. Jones sold 5,918 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $265.00, for a total transaction of $1,568,270.00. Following the completion of the transaction, the executive vice president now owns 36,045 shares in the company, valued at approximately $9,551,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicole S. Jones sold 12,070 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $259.03, for a total transaction of $3,126,492.10. Following the transaction, the executive vice president now owns 35,201 shares of the company’s stock, valued at approximately $9,118,115.03. The disclosure for this sale can be found here. Insiders sold a total of 91,836 shares of company stock worth $23,795,261 over the last three months. Insiders own 0.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Country Trust Bank raised its position in Cigna by 116.7% in the 1st quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. Missouri Trust & Investment Co acquired a new stake in Cigna during the 4th quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new stake in Cigna during the 1st quarter worth $30,000. Exane Derivatives boosted its stake in Cigna by 6,200.0% during the 1st quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock worth $30,000 after purchasing an additional 124 shares during the period. Finally, Wagner Wealth Management LLC boosted its stake in Cigna by 144.4% during the 4th quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock worth $30,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Cigna (Get Rating)

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.

Read More

The Fly logo

Analyst Recommendations for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.