Barclays Lowers Cigna (CI) Price Target to $207.00

Cigna (NYSE:CI) had its price objective trimmed by Barclays from $220.00 to $207.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the health services provider’s stock.

A number of other equities analysts have also recently issued reports on CI. Edward Jones initiated coverage on Cigna in a report on Monday, December 24th. They issued a buy rating and a $181.30 price objective for the company. ValuEngine cut Cigna from a hold rating to a sell rating in a report on Friday, December 28th. Raymond James upgraded Cigna from a market perform rating to an outperform rating and set a $187.17 price objective for the company in a report on Thursday, January 3rd. Zacks Investment Research cut Cigna from a buy rating to a hold rating in a report on Thursday, January 3rd. Finally, Wells Fargo & Co cut their price objective on Cigna from $221.00 to $200.00 and set a market perform rating for the company in a report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Cigna has a consensus rating of Buy and a consensus price target of $230.47.

CI opened at $149.00 on Wednesday. Cigna has a 12-month low of $141.95 and a 12-month high of $226.60. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $56.63 billion, a PE ratio of 10.42, a PEG ratio of 0.73 and a beta of 0.71.

Cigna (NYSE:CI) last posted its quarterly earnings data on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.53 by ($0.07). Cigna had a return on equity of 16.64% and a net margin of 5.42%. The firm had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $11.38 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. Cigna’s revenue for the quarter was up 29.3% compared to the same quarter last year. As a group, equities research analysts expect that Cigna will post 16.43 EPS for the current year.

The business also recently announced a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were issued 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%.

In related news, Director William D. Zollars sold 272 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total transaction of $45,812.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Partridge sold 1,000 shares of the stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $184.43, for a total value of $184,430.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,420 shares of company stock valued at $1,886,122 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. 1 North Wealth Services LLC bought a new position in Cigna during the 4th quarter valued at approximately $25,000. Clarfeld Financial Advisors LLC bought a new position in Cigna during the 4th quarter valued at approximately $25,000. Private Ocean LLC bought a new position in Cigna during the 4th quarter valued at approximately $26,000. Delta Asset Management LLC TN bought a new position in Cigna during the 4th quarter valued at approximately $28,000. Finally, Litman Gregory Asset Management LLC bought a new position in Cigna during the 4th quarter valued at approximately $30,000. Institutional investors own 88.31% of the company’s stock.

About Cigna

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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Analyst Recommendations for Cigna (NYSE:CI)

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