What’s Propelling CIGNA Corporation to Increase So Much?

 What's Propelling CIGNA Corporation to Increase So Much?

In today’s session CIGNA Corporation (CI) registered an unusually high (495) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CI increase. With 495 contracts traded and 1994 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CI161118C00130000 closed last at: $3.6 or 39.5% up. About 230,417 shares traded hands. CIGNA Corporation (NYSE:CI) has risen 4.13% since April 8, 2016 and is uptrending. It has underperformed by 1.52% the S&P500.

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 16.91% above today’s ($136.69) stock price. CIGNA has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. As per Friday, September 23, the company rating was initiated by Evercore. The firm earned “Buy” rating on Wednesday, August 5 by Zacks. The stock of CIGNA Corporation (NYSE:CI) has “Buy” rating given on Friday, October 2 by Citigroup. On Friday, January 8 the stock rating was upgraded by Jefferies to “Buy”. The firm earned “Buy” rating on Monday, July 27 by Sterne Agee CRT. The rating was initiated by Stifel Nicolaus with “Buy” on Tuesday, June 28. As per Tuesday, August 18, the company rating was maintained by RBC Capital Markets. The stock has “Overweight” rating given by JP Morgan on Wednesday, September 16. Barclays Capital maintained the stock with “Equal-Weight” rating in Wednesday, January 6 report. The company was maintained on Monday, November 9 by RBC Capital Markets.

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 2016 Q2. Its the same as in 2016Q1. The ratio has no 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.
Atria Invs Limited Liability Com last reported 2,000 shares in the company. Hightower Advsrs Limited accumulated 47,201 shares or 0.08% of the stock. Norinchukin Savings Bank The last reported 0.04% of its portfolio in the stock. Moreover, Meyer Handelman Com has 0.08% invested in CIGNA Corporation (NYSE:CI) for 13,220 shares. Pitcairn Communications, a Pennsylvania-based fund reported 3,198 shares. Dimensional Fund Advsr Limited Partnership holds 0.08% of its portfolio in CIGNA Corporation (NYSE:CI) for 1.12 million shares. Financial Bank Of Stockton owns 4,135 shares or 0.28% of their US portfolio. Vanguard Gp Inc accumulated 0.12% or 15.48 million shares. United Cap Fincl Advisers Limited Liability Com has 3,020 shares for 0% of their US portfolio. The New York-based Mufg Americas has invested 0.01% in CIGNA Corporation (NYSE:CI). Moreover, Diam Company Limited has 0.07% invested in CIGNA Corporation (NYSE:CI) for 35,296 shares. Legg Mason Asset (Japan) Ltd holds 0.92% of its portfolio in CIGNA Corporation (NYSE:CI) for 6,700 shares. Wellington Management Group Llp last reported 0.25% of its portfolio in the stock. Westwood, a Texas-based fund reported 580,330 shares. Johnson Group Inc Inc has 1,426 shares for 0.03% of their US portfolio.

Insider Transactions: Since August 17, 2016, the stock had 0 buys, and 3 insider sales for $7.91 million net activity. Hoeltzel Mary T also sold $66,138 worth of CIGNA Corporation (NYSE:CI) on Wednesday, August 17. Sadler Jason D also sold $487,200 worth of CIGNA Corporation (NYSE:CI) shares. 58,822 shares with value of $7.36M were sold by MURABITO JOHN M on Monday, November 7.

Cigna Corporation , together with its subsidiaries, is a health services company. The company has a market cap of $37.01 billion. The Firm offers medical, dental, disability, life and accident insurance and related services and products. It has a 18.58 P/E ratio. The Company’s divisions include Global Health Care, Global Supplemental Benefits, Group Disability and Life, Other Operations and Corporate.

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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