Cigna Corporation (CI) – Don’t Believe the Hype: Check The Facts

1,608 institutions hold shares in Cigna Corporation (CI), with 5.08M shares held by insiders accounting for 1.44% while institutional investors hold 94.84% of the company’s shares. The shares outstanding are 357.69M, and float is at 346.76M with Short Float at 1.36%. Institutions hold 93.47% of the Float.

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The top institutional shareholder in the company is Price (T.Rowe) Associates Inc with over 29.88 million shares valued at $6.22 billion. The investor’s holdings represent 8.60% of the CI Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 27.97 million shares valued at $5.82 billion to account for 8.05% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 27.81 million shares representing 8.00% and valued at over $5.79 billion, while FMR, LLC holds 5.62% of the shares totaling 19.53 million with a market value of $4.07 billion.

Cigna Corporation (NYSE: CI) is 14.87% higher on its value in year-to-date trading and has touched a low of $158.84 and a high of $248.84 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CI stock was last observed hovering at around $243.34 in the last trading session, with the day’s loss setting it -4.21% off its average median price target of $268.00 for the next 12 months. It is also 20.29% off the consensus price target high of $300.00 offered by 24 analysts, but current levels are -3.97% lower than the price target low of $230.00 for the same period.

Currently trading at $239.13, the stock is -1.11% and 6.39% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.39 million and changing -1.73% at the moment leaves the stock 20.80% off its SMA200. CI registered 45.95% gain for a year compared to 6-month gain of 42.99%. The firm has a 50-day simple moving average (SMA 50) of $229.71 and a 200-day simple moving average (SMA200) of $206.42.

The stock witnessed a 3.69% loss in the last 1 month and extending the period to 3 months gives it a 16.24%, and is -3.40% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.02% over the week and 2.21% over the month.

Cigna Corporation (CI) has around 73700 employees, a market worth around $83.04B and $160.32B in sales. Current P/E ratio is 10.34 and Fwd P/E is 10.47. Profit margin for the company is 5.30%. Distance from 52-week low is 50.55% and -3.90% from its 52-week high. The company has generated returns on investments over the last 12 months (11.90%).

Cigna Corporation (CI) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Cigna Corporation (CI) is a “Buy”. 24 analysts offering their recommendations for the stock have an average rating of 1.80, where 2 rate it as a Hold and 1 think it is a “Overweight”. 21 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Cigna Corporation is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $4.38 with sales reaching $40.3B over the same period.The EPS is expected to grow by 70.90% this year, but quarterly earnings will post 3.60% year-over-year. Quarterly sales are estimated to grow 5.00% in year-over-year returns.

Cigna Corporation (CI) Insider Activity

A total of 104 insider transactions have happened at Cigna Corporation (CI) in the last six months, with sales accounting for 45 and purchases happening 59 times. The most recent transaction is an insider sale by Manders Matthew G, the company’s Pres, Government and Solutions. SEC filings show that Manders Matthew G sold 3,087 shares of the company’s common stock on Mar 01 at a price of $212.37 per share for a total of $0.66 million. Following the sale, the insider now owns 44569.0 shares.

Cigna Corporation disclosed in a document filed with the SEC on Mar 01 that Jones Nicole S (EVP, General Counsel) sold a total of 2,527 shares of the company’s common stock. The trade occurred on Mar 01 and was made at $212.37 per share for $0.54 million. Following the transaction, the insider now directly holds 36128.0 shares of the CI stock.

Still, SEC filings show that on Mar 01, WENTWORTH TIMOTHY C (CEO Evernorth) disposed off 5,732 shares at an average price of $214.67 for $1.23 million. The insider now directly holds 18,207 shares of Cigna Corporation (CI).

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