Price Action Alert: A Reversal for CIGNA Corporation Is Not Near. The Stock Reaches Yearly Low Today

Price Action Alert: A Reversal for CIGNA Corporation Is Not Near. The Stock Reaches Yearly Low Today

The stock of CIGNA Corporation (NYSE:CI) hit a new 52-week low and has $115.14 target or 5.00% below today’s $121.20 share price. The 5 months bearish chart indicates high risk for the $30.34 billion company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $115.14 price target is reached, the company will be worth $1.52 billion 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 279,794 shares traded hands. CIGNA Corporation (NYSE:CI) has declined 14.19% since March 10, 2016 and is downtrending. It has underperformed by 21.71% the S&P500.

Analysts await CIGNA Corporation (NYSE:CI) to report earnings on November, 4. They expect $1.90 earnings per share, down 16.67% or $0.38 from last year’s $2.28 per share. CI’s profit will be $475.63 million for 15.95 P/E if the $1.90 EPS becomes a reality. After $1.98 actual earnings per share 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. $182 is the highest target while $134 is the lowest. The $159.80 average target is 31.85% above today’s ($121.2) stock price. CIGNA has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Barclays Capital maintained CIGNA Corporation (NYSE:CI) on Wednesday, January 6 with “Equal-Weight” rating. The firm has “Hold” rating given on Friday, September 23 by Evercore. On Friday, October 2 the stock rating was initiated by Citigroup with “Buy”. The company was upgraded on Monday, July 27 by Sterne Agee CRT. RBC Capital Markets maintained it with “Sector Perform” rating and $182 target price in Tuesday, August 18 report. Stifel Nicolaus initiated the stock with “Buy” rating in Tuesday, June 28 report. The stock has “Overweight” rating given by JP Morgan on Wednesday, September 16. The rating was upgraded by Jefferies to “Buy” on Friday, January 8. The stock of CIGNA Corporation (NYSE:CI) has “Sector Perform” rating given on Monday, November 9 by RBC Capital Markets. The stock of CIGNA Corporation (NYSE:CI) has “Buy” rating given on Wednesday, August 5 by Zacks.

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 is without 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.
Springbok Mgmt Lc holds 0.05% or 3,044 shares in its portfolio. Aviance Capital Ltd Company has 0.01% invested in the company for 2,797 shares. Invesco Limited has 386,861 shares for 0.02% of their US portfolio. First Interstate Commercial Bank holds 0.14% of its portfolio in CIGNA Corporation (NYSE:CI) for 5,305 shares. Par Capital reported 3.02M shares or 6.41% of all its holdings. Hightower Advsrs Limited holds 0.08% or 47,201 shares in its portfolio. Argent Capital Ltd Liability Company last reported 2,073 shares in the company. Marietta Prtnrs Ltd Co last reported 3,800 shares in the company. Moreover, Mairs And Inc has 0.01% invested in CIGNA Corporation (NYSE:CI) for 4,801 shares. Crawford Inv Counsel, a Georgia-based fund reported 5,166 shares. Oarsman Capital has invested 0.14% of its portfolio in CIGNA Corporation (NYSE:CI). Wolverine Asset Mgmt Limited Company holds 0.01% or 5,118 shares in its portfolio. Hengehold Capital Mgmt Limited Liability, a Ohio-based fund reported 2,411 shares. Ameriprise Financial last reported 1.23M shares in the company. Legal & General Grp Public Lc reported 1.22M shares or 0.17% of all its holdings.

Insider Transactions: Since August 17, 2016, the stock had 0 insider purchases, and 1 insider sale for $66,138 net activity. $66,138 worth of CIGNA Corporation (NYSE:CI) shares were sold by Hoeltzel Mary T.

More news for CIGNA Corporation (NYSE:CI) were recently published by: Streetinsider.com, which released: “Cigna Corp. (CI) Comments on CMS Star Quality Ratings; Sees no Financial …” on October 12, 2016. Businesswire.com‘s article titled: “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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