Is CIGNA Corporation (CI)’s Fuel Running High? The Stock Formed Wedge Up

September 17, 2017 - By Vivian Currie

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.
Loeb Corporation invested 0.27% of its portfolio in CIGNA Corporation (NYSE:CI). Ftb Advisors reported 0.01% of its portfolio in CIGNA Corporation (NYSE:CI). Dynamic reported 15,828 shares stake. Alpine Assoc Mgmt Inc owns 292,519 shares. Manchester Management Ltd accumulated 0.01% or 608 shares. Henderson Grp Public Limited Co owns 33,602 shares or 0.03% of their US portfolio. Blackrock Fund Advisors holds 4.09M shares. Wolverine Asset Management Lc, Illinois-based fund reported 26 shares. Citigroup stated it has 0.01% of its portfolio in CIGNA Corporation (NYSE:CI). Concert Wealth Mgmt has 0.15% invested in CIGNA Corporation (NYSE:CI). Essex Svcs reported 8,937 shares stake. Commonwealth Comml Bank Of Aus reported 0.04% in CIGNA Corporation (NYSE:CI). The Massachusetts-based Welch Forbes Ltd Llc has invested 0.07% in CIGNA Corporation (NYSE:CI). Bluemountain Mngmt Limited Liability holds 764,751 shares. Decatur Capital Mngmt has invested 0.5% in CIGNA Corporation (NYSE:CI).

Since April 10, 2017, it had 0 insider buys, and 9 sales for $8.12 million activity. $640,418 worth of CIGNA Corporation (NYSE:CI) shares were sold by Sadler Jason D. Triplett Michael W also sold $240,153 worth of CIGNA Corporation (NYSE:CI) shares. 20,312 CIGNA Corporation (NYSE:CI) shares with value of $3.25 million were sold by Jones Nicole S. ZOLLARS WILLIAM D sold $320,269 worth of stock or 1,923 shares. Manders Matthew G had sold 6,000 shares worth $990,000 on Friday, June 2. 11,455 CIGNA Corporation (NYSE:CI) shares with value of $1.85 million were sold by Bacus Lisa R. On Tuesday, June 6 Hoeltzel Mary T sold $83,350 worth of CIGNA Corporation (NYSE:CI) or 500 shares.

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 2.46M 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.

Analysts expect CIGNA Corporation (NYSE:CI) to report $2.34 EPS on November, 2.They anticipate $0.40 EPS change or 20.62 % from last quarter’s $1.94 EPS. CI’s profit would be $589.12M giving it 19.88 P/E if the $2.34 EPS is correct. After having $2.91 EPS previously, CIGNA Corporation’s analysts see -19.59 % EPS growth.

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. The firm earned “Buy” rating on Monday, June 5 by UBS. The firm has “Buy” rating by Deutsche Bank given on Thursday, July 13. As per Tuesday, June 28, the company rating was initiated by Stifel Nicolaus. The firm earned “Hold” rating on Friday, September 23 by Evercore. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, November 9 report. On Wednesday, September 16 the stock rating was initiated by JP Morgan with “Overweight”. RBC Capital Markets maintained the shares of CI in report on Sunday, July 23 with “Buy” rating. The rating was maintained by Morgan Stanley on Monday, August 7 with “Overweight”. Cowen & Co maintained it with “Buy” rating and $18500 target in Thursday, July 13 report. Morgan Stanley maintained CIGNA Corporation (NYSE:CI) rating on Thursday, August 17. Morgan Stanley has “Overweight” rating and $195 target.

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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