Cigna (NYSE:CI) Price Target Raised to $294.00 at Royal Bank of Canada

Cigna (NYSE:CIGet Rating) had its price objective boosted by Royal Bank of Canada from $272.00 to $294.00 in a report issued on Friday morning, The Fly reports.

A number of other research analysts have also issued reports on CI. BMO Capital Markets lifted their target price on Cigna from $300.00 to $320.00 in a report on Monday, May 9th. Jefferies Financial Group reiterated a hold rating and issued a $271.00 target price (down from $330.00) on shares of Cigna in a report on Thursday, July 14th. Barclays lifted their target price on Cigna from $275.00 to $310.00 and gave the company an overweight rating in a report on Monday, May 23rd. Credit Suisse Group set a $315.00 target price on Cigna in a report on Tuesday, July 19th. Finally, Mizuho lifted their target price on Cigna from $266.00 to $291.00 in a report on Monday, May 9th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cigna presently has a consensus rating of Moderate Buy and an average price target of $292.72.

Cigna Trading Up 0.6 %

CI opened at $281.77 on Friday. Cigna has a 52 week low of $191.74 and a 52 week high of $284.46. The business has a fifty day simple moving average of $265.57 and a 200-day simple moving average of $251.60. The firm has a market cap of $89.40 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.10 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 0.67.

Cigna (NYSE:CIGet Rating) last released its quarterly earnings results on Thursday, August 4th. The health services provider reported $6.22 EPS for the quarter, topping the consensus estimate of $5.62 by $0.60. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The business had revenue of $45.48 billion during the quarter, compared to analyst estimates of $44.34 billion. During the same period last year, the business posted $5.24 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Cigna will post 22.9 earnings per share for the current year.

Cigna Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, September 6th. Cigna’s dividend payout ratio (DPR) is presently 26.71%.

Insider Activity at Cigna

In other Cigna news, EVP Nicole S. Jones sold 5,901 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $270.00, for a total transaction of $1,593,270.00. Following the transaction, the executive vice president now owns 36,908 shares in the company, valued at approximately $9,965,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cigna news, CEO David Cordani sold 45,261 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $270.42, for a total transaction of $12,239,479.62. Following the transaction, the chief executive officer now owns 160,499 shares in the company, valued at approximately $43,402,139.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicole S. Jones sold 5,901 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $270.00, for a total value of $1,593,270.00. Following the transaction, the executive vice president now owns 36,908 shares in the company, valued at approximately $9,965,160. The disclosure for this sale can be found here. Insiders have sold 76,642 shares of company stock worth $20,869,065 in the last quarter. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Cigna

Several institutional investors have recently modified their holdings of CI. Country Trust Bank lifted its stake 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 buying an additional 56 shares in the last quarter. Castle Wealth Management LLC purchased a new stake in Cigna in the 2nd quarter valued at approximately $25,000. Pittenger & Anderson Inc. purchased a new stake in Cigna in the 2nd quarter valued at approximately $26,000. Missouri Trust & Investment Co purchased a new stake in Cigna in the 4th quarter valued at approximately $28,000. Finally, Wagner Wealth Management LLC lifted its stake in Cigna by 144.4% in the 4th quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

About Cigna

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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.

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