CIGNA Corporation (CI) Formed a Wedge Up Chart Pattern, Could Be One of The Best Performers Soon

September 17, 2017 - By Ellis Scott

Investors sentiment increased to 0.86 in Q4 2016. Its up 0.10, from 0.76 in 2016Q3. It is positive, as 53 investors sold CIGNA Corporation shares while 249 reduced holdings. 73 funds opened positions while 187 raised stakes. 216.73 million shares or 1.90% more from 212.68 million shares in 2016Q3 were reported.
Ray Gerald L And Associates invested in 0.25% or 12,925 shares. Employees Retirement Sys Of Texas accumulated 79,000 shares. Adage Lc holds 0.16% or 442,363 shares in its portfolio. Everence Management Incorporated reported 0.21% stake. 6.99 million are owned by Fmr Ltd Co. Renaissance Tech Ltd Liability Com invested in 0.1% or 462,900 shares. Kcm Advsrs Ltd Com owns 1,688 shares. Jpmorgan Chase And holds 0.1% or 3.04 million shares in its portfolio. Fred Alger has 20,236 shares. Bluefin Trading Llc has invested 0.51% of its portfolio in CIGNA Corporation (NYSE:CI). 10,391 are held by First Republic Inv Mgmt. Robeco Institutional Asset Mgmt Bv has invested 0.33% in CIGNA Corporation (NYSE:CI). Apg Asset Mngmt Nv holds 490,712 shares or 0.12% of its portfolio. Savings Bank Of Nova Scotia owns 5,749 shares. Allstate has 0.22% invested in CIGNA Corporation (NYSE:CI).

Since April 10, 2017, it had 0 insider buys, and 9 sales for $8.12 million activity. The insider ZOLLARS WILLIAM D sold $320,269. Manders Matthew G sold $990,000 worth of stock or 6,000 shares. Bacus Lisa R sold $1.85M worth of stock or 11,455 shares. Jones Nicole S also sold $3.25M worth of CIGNA Corporation (NYSE:CI) on Wednesday, May 17. Sadler Jason D had sold 1,727 shares worth $284,247 on Monday, June 5. 2,850 CIGNA Corporation (NYSE:CI) shares with value of $460,313 were sold by Hoeltzel Mary T.

The stock of CIGNA Corporation (CI) formed an up wedge with $195.35 target or 5.00 % above today’s $186.05 share price. The 6 months wedge indicates low risk for the $46.84 billion company. If the $195.35 price target is reached, the company will be worth $2.34B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.44% or $0.82 on September 15, reaching $186.05. About 2.46 million shares traded or 98.39% up from the average. CIGNA Corporation (NYSE:CI) has risen 23.57% since September 17, 2016 and is uptrending. It has outperformed by 6.87% the S&P500.

Investors wait CIGNA Corporation (NYSE:CI) to report on November, 2. its quarterly earnings Wall Street analysts expect $2.34 earnings per share, up $0.40 or 20.62 % from last year’s $1.94 same quarter earnings. This translates into $589.12M profit for CI giving the stock a 19.88 P/E. This is assuming the current $2.34 EPS is accurate. CIGNA Corporation’s Wall Street analysts see -19.59 % negative EPS growth, taking into account the $2.91 EPS reproted in the previous quarter,

CIGNA Corporation (NYSE:CI) Ratings Coverage

Among 17 analysts covering CIGNA (NYSE:CI), 15 have Buy rating, 0 Sell and 2 Hold. Therefore 88% are positive. CIGNA had 41 analyst reports since July 27, 2015 according to SRatingsIntel. Deutsche Bank maintained CIGNA Corporation (NYSE:CI) on Thursday, July 13 with “Buy” rating. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, June 28. The stock has “Hold” rating by Evercore on Friday, September 23. The stock of CIGNA Corporation (NYSE:CI) earned “Buy” rating by Citigroup on Friday, October 2. The company was maintained on Monday, September 11 by RBC Capital Markets. The stock of CIGNA Corporation (NYSE:CI) earned “Buy” rating by Oppenheimer on Friday, August 4. The firm has “Buy” rating given on Sunday, July 23 by RBC Capital Markets. The stock of CIGNA Corporation (NYSE:CI) earned “Buy” rating by Zacks on Wednesday, August 5. On Tuesday, September 5 the stock rating was maintained by Jefferies with “Buy”. The company was maintained on Monday, August 7 by Citigroup.

More news for CIGNA Corporation (NYSE:CI) were recently published by: Seekingalpha.com, which released: “Cigna Debt Buyback Opportunity” on September 06, 2017. Businesswire.com‘s article titled: “AM Best Assigns Issue Credit Ratings to Cigna Corporation’s New Senior …” and published on September 08, 2017 is yet another important article.

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