The stock of CIGNA Corporation (NYSE:CI) hit a new 52-week low and has $106.91 target or 9.00% below today’s $117.48 share price. The 6 months bearish chart indicates high risk for the $29.43 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $106.91 price target is reached, the company will be worth $2.65B 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 959,830 shares traded hands. CIGNA Corporation (NYSE:CI) has declined 15.45% since March 31, 2016 and is downtrending. It has underperformed by 17.98% 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 $475.97 million for 15.46 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. CIGNA has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, January 8 by Jefferies. The firm has “Buy” rating by Citigroup given on Friday, October 2. The company was initiated on Wednesday, September 16 by JP Morgan. Evercore initiated CIGNA Corporation (NYSE:CI) on Friday, September 23 with “Hold” rating. The rating was initiated by Stifel Nicolaus with “Buy” on Tuesday, June 28. The company was downgraded on Wednesday, August 5 by Zacks. The firm has “Buy” rating given on Monday, July 27 by Sterne Agee CRT. The stock of CIGNA Corporation (NYSE:CI) earned “Equal-Weight” rating by Barclays Capital on Wednesday, January 6. RBC Capital Markets maintained CIGNA Corporation (NYSE:CI) rating on Monday, November 9. RBC Capital Markets has “Sector Perform” rating and $172 price target. RBC Capital Markets maintained the stock with “Sector Perform” rating in Tuesday, August 18 report.
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 the same, 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.
Wedge Cap Mngmt L L P Nc holds 0.14% or 102,939 shares in its portfolio. Focused Wealth Incorporated has 760 shares for 0.04% of their US portfolio. The New York-based Millennium Management Limited Liability has invested 0% in CIGNA Corporation (NYSE:CI). Twin Capital Management Incorporated, a Pennsylvania-based fund reported 42,906 shares. Ckw Fincl Grp reported 700 shares or 0.03% of all its holdings. Springbok Ltd Liability Com last reported 0.05% of its portfolio in the stock. Ironwood Financial Limited Liability Corp last reported 0.04% of its portfolio in the stock. Neuberger Berman Grp Incorporated Limited Liability Com has 262,611 shares for 0.05% of their US portfolio. Moreover, Sei Investments Com has 0.17% invested in CIGNA Corporation (NYSE:CI) for 218,695 shares. Signaturefd Ltd Liability Company holds 0.01% of its portfolio in CIGNA Corporation (NYSE:CI) for 381 shares. United Svcs Automobile Association has 323,622 shares for 0.15% of their US portfolio. First Midwest Bancorp Trust Division holds 3,740 shares or 0.06% of its portfolio. Blackrock Japan Com last reported 0.15% of its portfolio in the stock. Blair William Il last reported 3,416 shares in the company. Capital Advisory Ser holds 0.07% or 2,866 shares in its portfolio.
Insider Transactions: Since August 17, 2016, the stock had 0 buys, and 1 insider sale for $66,138 net activity. Hoeltzel Mary T sold $66,138 worth of stock or 500 shares.
More news for CIGNA Corporation (NYSE:CI) were recently published by: Businesswire.com, which released: “Cigna Corporation Announces Appearance at the Credit Suisse 25th Annual …” on October 05, 2016. Twst.com‘s article titled: “CIGNA Corporation: Cigna Corporation’s Third Quarter 2016 Earnings Release Details” and published on October 05, 2016 is yet another important article.
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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