Cigna (NYSE:CI) Sees Strong Trading Volume

Cigna Corp (NYSE:CI) shares saw unusually-strong trading volume on Thursday . Approximately 10,063,723 shares were traded during trading, an increase of 278% from the previous session’s volume of 2,662,893 shares.The stock last traded at $175.34 and had previously closed at $160.51.

Several research analysts have weighed in on CI shares. Citigroup upgraded shares of Atara Biotherapeutics from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $24.00 in a report on Monday, June 3rd. Goldman Sachs Group upgraded shares of Puxin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $56.00 in a report on Friday, May 3rd. Cantor Fitzgerald restated a “buy” rating and set a $75.00 price objective on shares of Emergent Biosolutions in a report on Sunday, April 21st. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, UBS Group set a $36.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Cigna currently has a consensus rating of “Buy” and a consensus target price of $223.15.

The company’s fifty day moving average price is $157.08. The stock has a market cap of $60.85 billion, a P/E ratio of 12.33, a PEG ratio of 0.81 and a beta of 0.71. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Cigna (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $3.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.16. The company had revenue of $33.43 billion during the quarter, compared to the consensus estimate of $32.79 billion. Cigna had a net margin of 4.11% and a return on equity of 14.23%. The firm’s revenue for the quarter was up 192.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.11 earnings per share. On average, equities research analysts anticipate that Cigna Corp will post 16.56 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Accurate Investment Solutions Inc. grew its position in 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 buying an additional 61 shares during the period. CX Institutional grew its position in 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 buying an additional 66 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Cigna by 10.8% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 698 shares of the health services provider’s stock valued at $132,000 after buying an additional 68 shares during the period. Argent Capital Management LLC grew its position in Cigna by 1.5% during the first quarter. Argent Capital Management LLC now owns 4,686 shares of the health services provider’s stock valued at $754,000 after buying an additional 71 shares during the period. Finally, ETF Managers Group LLC grew its position in Cigna by 9.8% during the first quarter. ETF Managers Group LLC now owns 852 shares of the health services provider’s stock valued at $137,000 after buying an additional 76 shares during the period. Institutional investors own 88.18% of the company’s stock.

About Cigna (NYSE:CI)

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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