Cigna (NYSE:CI) Shares Down 7.7%

Cigna (NYSE:CI) Shares Down 7.7%

Cigna Corp (NYSE:CI) shares were down 7.7% on Monday . The stock traded as low as $200.05 and last traded at $200.36, approximately 3,114,543 shares traded hands during mid-day trading. An increase of 64% from the average daily volume of 1,895,437 shares. The stock had previously closed at $217.19.

Several equities research analysts have weighed in on CI shares. ValuEngine downgraded shares of Cigna from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $245.00 price target on shares of Cigna in a report on Monday, January 27th. Cowen reaffirmed a “buy” rating and issued a $250.00 price target on shares of Cigna in a report on Monday, December 23rd. Evercore ISI began coverage on shares of Cigna in a report on Friday, February 7th. They issued a “hold” rating and a $230.00 price target for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 price target on shares of Cigna in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $240.16.

The company has a debt-to-equity ratio of 0.70, a current ratio of 0.43 and a quick ratio of 0.63. The company’s fifty day moving average is $209.70 and its 200-day moving average is $183.93. The stock has a market cap of $81.10 billion, a PE ratio of 14.92, a PEG ratio of 1.03 and a beta of 0.80.

Cigna (NYSE:CI) last issued its earnings results on Thursday, February 6th. The health services provider reported $4.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.20 by $0.11. Cigna had a net margin of 3.32% and a return on equity of 14.69%. The firm had revenue of $36.54 billion during the quarter, compared to analysts’ expectations of $35.20 billion. During the same quarter last year, the company posted $2.46 earnings per share. The firm’s revenue was up 165.7% compared to the same quarter last year. Analysts expect that Cigna Corp will post 18.51 EPS for the current year.

In other Cigna news, EVP Steven B. Miller sold 7,145 shares of Cigna stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $212.15, for a total value of $1,515,811.75. Following the completion of the transaction, the executive vice president now owns 32,071 shares of the company’s stock, valued at $6,803,862.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy C. Wentworth sold 21,708 shares of Cigna stock in a transaction on Friday, February 7th. The shares were sold at an average price of $209.73, for a total transaction of $4,552,818.84. Following the completion of the transaction, the insider now directly owns 70,374 shares of the company’s stock, valued at approximately $14,759,539.02. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Quarterback LLC purchased a new position in Cigna in the fourth quarter valued at $12,552,310,000. State Street Corp increased its holdings in Cigna by 1.4% in the fourth quarter. State Street Corp now owns 16,354,573 shares of the health services provider’s stock valued at $3,344,347,000 after buying an additional 229,083 shares in the last quarter. FMR LLC grew its position in shares of Cigna by 16.7% in the fourth quarter. FMR LLC now owns 15,414,573 shares of the health services provider’s stock valued at $3,152,127,000 after purchasing an additional 2,206,181 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Cigna by 7.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,933,051 shares of the health services provider’s stock valued at $1,659,527,000 after purchasing an additional 714,957 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Cigna by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,454,918 shares of the health services provider’s stock valued at $1,113,067,000 after purchasing an additional 139,718 shares during the period. 87.46% of the stock is owned by institutional investors.

About Cigna (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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