The stock of CIGNA Corporation (NYSE:CI) hit a new 52-week low and has $106.83 target or 9.00% below today’s $117.40 share price. The 8 months bearish chart indicates high risk for the $30.06 billion company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $106.83 price target is reached, the company will be worth $2.71 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 338,757 shares traded hands. CIGNA Corporation (NYSE:CI) has declined 16.78% since March 14, 2016 and is downtrending. It has underperformed by 22.39% the S&P500.
Analysts await CIGNA Corporation (NYSE:CI) to report earnings on November, 4. They expect $1.90 EPS, down 16.67% or $0.38 from last year’s $2.28 per share. CI’s profit will be $486.49 million for 15.45 P/E if the $1.90 EPS becomes a reality. After $1.98 actual EPS reported by CIGNA Corporation for the previous quarter, Wall Street now forecasts -4.04% negative EPS growth.
CIGNA Corporation (NYSE:CI) Ratings Coverage
Out of 9 analysts covering CIGNA (NYSE:CI), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. $182 is the highest target while $134 is the lowest. The $159.80 average target is 36.12% above today’s ($117.4) stock price. CIGNA has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks to “Buy” on Wednesday, August 5. Evercore initiated CIGNA Corporation (NYSE:CI) on Friday, September 23 with “Hold” rating. The firm earned “Overweight” rating on Wednesday, September 16 by JP Morgan. RBC Capital Markets maintained it with “Sector Perform” rating and $182 target price in Tuesday, August 18 report. As per Wednesday, January 6, the company rating was maintained by Barclays Capital. The firm earned “Buy” rating on Monday, July 27 by Sterne Agee CRT. The stock has “Buy” rating given by Stifel Nicolaus on Tuesday, June 28. RBC Capital Markets maintained the shares of CI in a report on Monday, November 9 with “Sector Perform” rating. The stock has “Buy” rating given by Jefferies on Friday, January 8. The stock of CIGNA Corporation (NYSE:CI) has “Buy” rating given on Friday, October 2 by Citigroup.
According to Zacks Investment Research, “CIGNA Corporation is an investor-owned employee benefits organizations in the United States. Its subsidiaries are major providers of health care products and services, group life, accident and disability insurance, retirement products and services and investment management. CIGNA conducts its business through the following operating divisions: Employee Health Care, Life and Disability Benefits; Employee Retirement Benefits and Investment Services; International Life, Health and Employee Benefits; and Other Operations.”
Insitutional Activity: The institutional sentiment is 0.86 in Q2 2016. Its the same as in 2016Q1. The ratio is without change, as 74 funds sold all CIGNA Corporation shares owned while 238 reduced positions. only 42 funds bought stakes while 225 increased positions. They now own 211.52 million shares or 5.54% less from 223.92 million shares in 2016Q1.
Rockefeller Finance Serv accumulated 0.03% or 10,905 shares. Texas Capital Bancshares Inc Tx has 6,366 shares for 1.85% of their US portfolio. Vantage Ltd Liability Co holds 0% or 12 shares in its portfolio. Teacher Retirement Of Texas holds 0.47% of its portfolio in CIGNA Corporation (NYSE:CI) for 537,190 shares. Roof Eidam & Maycock Adv reported 6,748 shares or 0.45% of all its holdings. Mitsubishi Ufj Trust & owns 552,057 shares or 0.16% of their US portfolio. Credit Suisse Ag has 0.06% invested in the company for 427,060 shares. Suntrust Banks has 227,917 shares for 0.18% of their US portfolio. The Pennsylvania-based Commonwealth Of Pennsylvania Public School Empls Retrmt has invested 0.12% in CIGNA Corporation (NYSE:CI). Barton Mngmt holds 3,580 shares or 0.17% of its portfolio. The British Columbia – Canada-based British Columbia Investment has invested 0.2% in CIGNA Corporation (NYSE:CI). Pioneer Inv Management Incorporated accumulated 18,887 shares or 0.01% of the stock. Advance Cap I holds 0.64% of its portfolio in CIGNA Corporation (NYSE:CI) for 4,700 shares. Moreover, Us National Bank De has 0.06% invested in CIGNA Corporation (NYSE:CI) for 126,355 shares. Public Sector Pension Inv Board holds 0.07% or 48,616 shares in its portfolio.
Insider Transactions: Since August 17, 2016, the stock had 0 insider purchases, and 1 sale for $66,138 net activity. $66,138 worth of CIGNA Corporation (NYSE:CI) was sold by Hoeltzel Mary T on Wednesday, August 17.
More recent CIGNA Corporation (NYSE:CI) news were published by: Businesswire.com which released: “Cigna Corporation Announces Appearance at the Credit Suisse 25th Annual …” on October 05, 2016. Also Streetinsider.com published the news titled: “Cigna Corp. (CI) Comments on CMS Star Quality Ratings; Sees no Financial …” on October 12, 2016. Businesswire.com‘s news article titled: “Cigna Corporation’s Third Quarter 2016 Earnings Release Details” with publication date: October 05, 2016 was also an interesting one.
CI Company Profile
Cigna Corporation (Cigna), incorporated on November 3, 1981, together with its subsidiaries, is a health services company. The Firm offers medical, dental, disability, life and accident insurance and related services and products. The Company’s divisions include Global Health Care, Global Supplemental Benefits, Group Disability and Life, Other Operations and Corporate. The Company’s products are offered through employers and other groups, such as Governmental and non-Governmental organizations, unions and associations. Cigna also offers commercial health and dental insurance, Medicare and Medicaid products and health, life and accident insurance coverages to individuals in the United States and international markets. The Company’s other business include corporate-owned life insurance business (COLI), run-off reinsurance and settlement annuity businesses.
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