Cigna Corp (NYSE:CI) shares traded down 4.7% during trading on Wednesday after Barclays lowered their price target on the stock from $220.00 to $207.00. Barclays currently has an overweight rating on the stock. Cigna traded as low as $150.51 and last traded at $143.92. 5,102,028 shares were traded during mid-day trading, an increase of 107% from the average session volume of 2,467,634 shares. The stock had previously closed at $151.04.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Cigna from a "hold" rating to a "buy" rating and set a $208.00 price target for the company in a research report on Friday, January 4th. ValuEngine upgraded Cigna from a "sell" rating to a "hold" rating in a research report on Thursday, January 3rd. Credit Suisse Group reiterated a "buy" rating and set a $250.00 price target on shares of Cigna in a research report on Monday, January 7th. Edward Jones started coverage on Cigna in a research report on Monday, December 24th. They set a "buy" rating and a $181.30 price target for the company. Finally, Stephens started coverage on Cigna in a research report on Monday, January 14th. They set an "overweight" rating and a $251.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Cigna presently has an average rating of "Buy" and a consensus price target of $230.47.
In other Cigna news, Director William D. Zollars sold 272 shares of Cigna stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael W. Triplett sold 9,148 shares of Cigna stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $181.01, for a total value of $1,655,879.48. The disclosure for this sale can be found here. Insiders sold a total of 10,420 shares of company stock valued at $1,886,122 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Mascoma Wealth Management LLC increased its stake in shares of Cigna by 8.1% during the fourth quarter. Mascoma Wealth Management LLC now owns 709 shares of the health services provider's stock valued at $135,000 after buying an additional 53 shares during the period. Howe & Rusling Inc. boosted its position in shares of Cigna by 1.3% during the fourth quarter. Howe & Rusling Inc. now owns 4,585 shares of the health services provider's stock valued at $871,000 after purchasing an additional 61 shares in the last quarter. Accurate Investment Solutions Inc. boosted its position in shares of Cigna by 9.5% during the first quarter. Accurate Investment Solutions Inc. now owns 706 shares of the health services provider's stock valued at $114,000 after purchasing an additional 61 shares in the last quarter. CX Institutional boosted its position in shares of Cigna by 1.9% during the first quarter. CX Institutional now owns 3,523 shares of the health services provider's stock valued at $567,000 after purchasing an additional 66 shares in the last quarter. Finally, First Command Bank boosted its position in shares of Cigna by 11.8% during the fourth quarter. First Command Bank now owns 636 shares of the health services provider's stock valued at $121,000 after purchasing an additional 67 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.
The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. The stock has a market cap of $62.26 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.81 and a beta of 0.71.
Cigna (NYSE:CI) last released its quarterly earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The firm had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The company's revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities analysts forecast that Cigna Corp will post 16.41 EPS for the current fiscal year.
The company also recently declared a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were given 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%.
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