Jefferies Financial Group Reaffirms Buy Rating for CIGNA (CI)

CIGNA (NYSE:CI)‘s stock had its “buy” rating restated by research analysts at Jefferies Financial Group in a research report issued to clients and investors on Friday. They presently have a $224.00 price target on the health services provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 18.58% from the stock’s previous close.

A number of other brokerages have also recently weighed in on CI. ValuEngine upgraded CIGNA from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Monday, May 28th. Credit Suisse Group upped their price target on CIGNA from $215.00 to $218.00 and gave the company an “outperform” rating in a research report on Friday, May 4th. Finally, Goldman Sachs Group upgraded CIGNA from a “neutral” rating to a “buy” rating and upped their price target for the company from $193.00 to $212.00 in a research report on Wednesday, June 6th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $216.46.

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Shares of NYSE:CI opened at $188.90 on Friday. CIGNA has a fifty-two week low of $163.02 and a fifty-two week high of $227.13. The firm has a market capitalization of $44.50 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.14 and a beta of 0.60. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.37.

CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, August 2nd. The health services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.56 by $0.33. CIGNA had a return on equity of 20.90% and a net margin of 5.99%. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.20 billion. During the same period in the prior year, the business posted $2.91 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. research analysts predict that CIGNA will post 13.24 EPS for the current fiscal year.

In other news, VP Hoeltzel Mary T. Agoglia sold 1,000 shares of the stock in a transaction on Friday, May 25th. The stock was sold at an average price of $176.19, for a total transaction of $176,190.00. Following the sale, the vice president now owns 4,635 shares in the company, valued at $816,640.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Zollars sold 265 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $176.93, for a total value of $46,886.45. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank lifted its stake in shares of CIGNA by 22.2% during the second quarter. Huntington National Bank now owns 1,617 shares of the health services provider’s stock valued at $275,000 after acquiring an additional 294 shares during the period. Fred Alger Management Inc. lifted its stake in shares of CIGNA by 19.6% during the second quarter. Fred Alger Management Inc. now owns 2,167 shares of the health services provider’s stock valued at $368,000 after acquiring an additional 355 shares during the period. Advisor Partners LLC lifted its stake in shares of CIGNA by 7.0% during the second quarter. Advisor Partners LLC now owns 5,660 shares of the health services provider’s stock valued at $962,000 after acquiring an additional 368 shares during the period. Cubic Asset Management LLC lifted its stake in shares of CIGNA by 5.5% during the second quarter. Cubic Asset Management LLC now owns 7,065 shares of the health services provider’s stock valued at $1,201,000 after acquiring an additional 370 shares during the period. Finally, Moors & Cabot Inc. lifted its stake in shares of CIGNA by 7.6% during the first quarter. Moors & Cabot Inc. now owns 5,547 shares of the health services provider’s stock valued at $930,000 after acquiring an additional 394 shares during the period. 88.19% of the stock is currently owned by institutional investors and hedge funds.

About CIGNA

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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Analyst Recommendations for CIGNA (NYSE:CI)