Cigna Corporation [CI] Is Currently 2.36 below its 200 Period Moving Avg: What Does This Mean?


Cigna Corporation [NYSE: CI] gained 2.36% on the last trading session, reaching $271.09 price per share at the time. The company report on July 1, 2022 that Chubb Completes Acquisition of Cigna’s Personal Accident, Supplemental Health and Life Insurance Business in Asia-Pacific.

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Chubb Limited (NYSE: CB) today announced that it has completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna (NYSE: CI) in six Asia-Pacific markets. Chubb paid $5.36 billion for the operations, which include Cigna’s accident and health (A&H) and life business in Korea, Taiwan, New Zealand, Thailand, Hong Kong and Indonesia. The reduction in the final purchase price from the original announcement reflects the impacts of rising interest rates and foreign exchange rates on acquired book value and other minor adjustments.

This complementary strategic acquisition advances Chubb by expanding its presence in the Asia-Pacific region, a long-term growth area for the company. With the addition of Cigna’s business, Asia-Pacific’s share of Chubb’s global portfolio will grow to approximately $7 billion in premium from $4 billion, representing about 18% of the total company premiums, with approximately 95% of the acquired business contributing to Chubb’s Life Insurance segment and the remainder to its Overseas General Insurance segment. The company’s global A&H writings will increase in size to approximately $6 billion in premium, up from $3.7 billion, while the company’s life insurance segment becomes a $5.4 billion business.

Cigna Corporation represents 318.49 million in outstanding shares, while the company has a total market value of $84.56 billion with the latest information. CI stock price has been found in the range of $263.41 to $273.199.

If compared to the average trading volume of 1.67M shares, CI reached a trading volume of 3250709 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cigna Corporation [CI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CI shares is $294.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CI stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Cigna Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 22, 2022. While these analysts kept the previous recommendation, Loop Capital raised their target price to Hold. The new note on the price target was released on June 17, 2022, representing the official price target for Cigna Corporation stock. Previously, the target price had yet another raise from $258 to $301, while Bernstein kept a Mkt Perform rating on CI stock. On May 26, 2022, analysts increased their price target for CI shares from 265 to 300.

The Average True Range (ATR) for Cigna Corporation is set at 7.65, with the Price to Sales ratio for CI stock in the period of the last 12 months amounting to 0.48. The Price to Book ratio for the last quarter was 1.87, with the Price to Cash per share for the same quarter was set at 14.18. Price to Free Cash Flow for CI in the course of the last twelve months was 15.17.

Trading performance analysis for CI stock

Cigna Corporation [CI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.83. With this latest performance, CI shares gained by 6.74% in over the last four-week period, additionally plugging by 15.75% over the last 6 months – not to mention a rise of 15.24% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CI stock in for the last two-week period is set at 60.29, with the RSI for the last a single of trading hit 64.28, and the three-weeks RSI is set at 58.02 for Cigna Corporation [CI]. The present Moving Average for the last 50 days of trading for this stock 258.95, while it was recorded at 266.96 for the last single week of trading, and 233.62 for the last 200 days.

Cigna Corporation [CI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cigna Corporation [CI] shares currently have an operating margin of +4.84. Cigna Corporation’s Net Margin is presently recorded at +3.08.

Return on Equity for this stock inclined to 11.01, with Return on Assets sitting at 3.56.

Cigna Corporation [CI]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cigna Corporation go to 11.32%.

An analysis of insider ownership at Cigna Corporation [CI]

There are presently around $73,584 million, or 90.50% of CI stock, in the hands of institutional investors. The top three institutional holders of CI stocks are: BLACKROCK INC. with ownership of 29,350,591, which is approximately -0.8% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 25,992,862 shares of the stock with an approximate value of $6.88 billion in CI stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $4.65 billion in CI stock with ownership of nearly -2.191% of the company’s market capitalization.

Positions in Cigna Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 640 institutional holders increased their position in Cigna Corporation [NYSE:CI] by around 11,764,143 shares. Additionally, 558 investors decreased positions by around 17,299,272 shares, while 262 investors held positions by with 248,779,862 shares. The mentioned changes placed institutional holdings at 277,843,277 shares, according to the latest SEC report filing. CI stock had 147 new institutional investments in for a total of 1,598,922 shares, while 89 institutional investors sold positions of 661,398 shares during the same period.