Market Globalist

Cigna Corporation [CI] Insider Just Sold 8,972 Shares. Should You?

On Jan. 06, Miller Steven B divested U.S. $1,884,120 in shares of Cigna Corporation. The EVP, Chief Clinical Officer sold 8,972 shares at a price per share of $210.00. The transaction decreased this specific insider’s holdings to 26,881 shares worth around $5.94 million at present.

SVB Leerink launched its Cigna Corporation [CI] rating to the equivalent of a Mkt perform and assigned the price target of $220, in a research note dated July 01, 2020. That figure represents around a -0.36% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with SVB Leerink’s analysts assigning the shares to “a Mkt perform” rating in a research note to investors issued in early July. Meanwhile, Bernstein had lowered its rating on CI to “Mkt perform” from the earlier “an Outperform”, in a research note produced for clients May 04, 2020. In addition, there was an upgrade from Raymond James on March 24, 2020. The rater changed CI from “an Outperform” to “a Strong buy”.

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Is Cigna Corporation [NYSE:CI] a Good Buy Right Now?

It should be noted that CI technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 88% Buy in the last week and compares with 88% Buy in the past month. Data from Cigna Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 2.0 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 2.12 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.97 million shares.

CI Price Performance

On Wall Street, Cigna Corporation [NYSE:CI] finished Friday’s session up 0.14% at $220.80. The stock went up to $223.11 at the same session while its lowest single day price was $219.035. In the last five days, it saw a rise of about 6.06%, Cigna Corporation shares gained by almost 6.06% since the beginning of the year. However, the share price has dropped to as low as -1.85% below its one year high. On 01/08/21, the company shares recorded $223.11, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $190.88. The company’s shares have inclined by 4.72% in the past year. The 50-day SMA achieved is $205.63 while the 200-day SMA is $187.58. Volume dropped to 2.35 million from 2.81 million in the previous session.

Cigna Corporation [CI] Valuation Measures

Notably, Cigna Corporation [CI] stock can be classified as a good candidate in the listing of underestimated low-priced Healthcare Plans companies to purchase soonest possible with the prevailing 12-month PE ratio of 15.48. The measure means the stock is exchanging at a discount as compared to the 18.93x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.51 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 0.80 which means CI serve an attractive investment opportunity compared to its competitors.

CI Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 218.85 level, and in case of violation of this particular level, it will cause more drop to 216.91 level. On the upper level, 225.06 is still the key resistance. The stock may increase to the subsequent resistance at 222.93. The Relative Strength Index (RSI) pinned on the 14-day chart is 66.26, implying a neutral technical stance while the MACD stands at 12.23, meaning price will increase in the next trading period. Percent R indicator moved to 7.17%, implying bullish price movement. Stochastic %K at 96.11% suggest selling the stock.

What is the short interest in Cigna Corporation?

Short interest in the Cigna Corporation stock has surged, increasing by 80000.0 shares to total 3.63 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.71 million, data from Yahoo Finance shows. The decrease of -2.2% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.01% of the overall float for the stock.

Cigna Corporation’s Biggest Shareholders: Who Owns Cigna Corporation [CI]?

Filings by T. Rowe Price Associates, Inc. showed that the firm now holds a total of 29,757,140 shares or roughly 8.24% of the outstanding CI shares. This means their shares have reduced by -1,415,835 from the 29,757,140 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $5,623,618,163. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -0.40% stake valued at $3,486,499,323 while Fidelity Management & Research Co cut theirs at $3,467,291,278. During the last quarter, BlackRock Fund Advisors liquidated -66,639 of its shares in Cigna Corporation while Fidelity Management & Research Co sold -2,378,853 shares. The SSgA Funds Management, Inc.’s holdings currently number 16,284,849 shares at $3595694659.2. According to the firm’s last 13F report, Dodge & Cox shares in the company at filing stood at 15,578,334 shares, roughly $3,258,052,773.

CI Earnings Forecast For The Current Quarter

Cigna Corporation [CI] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $40.02B and an earnings per share of $3.66 for Dec 2020. Looking further ahead, the company is expected to report revenue of $39.95B at an EPS of $5.14 for Mar 2021. The estimates represent upside of 3.90% and 10.53% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

CI Earnings Estimates For The Current Year

For the financial year, Cigna Corporation [NYSE:CI] is expected to bring in revenue of $158.26B. The returns are nearly $18.08 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 18.6, higher than that of FY19 by $1.55. Estimates put this year’s earnings growth at 9.10%, 10.50% for the next, and at an annual 10.20% over the next 5-year period. As for sales, forecasts are for an increase of 12.90% in the current fiscal year and a further 3.90% over the following year.

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What are analyst thoughts on Cigna Corporation?

Looking forward to the Cigna Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Cigna Corporation stock at $260.50 within the next 12 months, which represents almost 15.24 per cent growth from its previous closing price of $220.80. The highest analysts’ target for Cigna Corporation stock projections is $280.00 and the lowest one is $223.00. Still, 25 analysts sharing their consensus rating for CI stock in 2021 agree that it is a Buy.

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