CIGNA Corporation (CI) Can’t Be Less Risky. The Stock Formed a Bullish Wedge Up

September 17, 2017 - By Adrian Mccoy

Investors sentiment increased to 0.86 in 2016 Q4. Its up 0.10, from 0.76 in 2016Q3. It improved, 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.
Robeco Institutional Asset Management Bv invested in 0.33% or 311,603 shares. Legacy Private Tru holds 2,085 shares or 0.04% of its portfolio. Investec Asset Management North America has 1.52% invested in CIGNA Corporation (NYSE:CI) for 76,297 shares. Wolverine Asset Mgmt Ltd Liability Company has invested 0% in CIGNA Corporation (NYSE:CI). Amer Century has 725,657 shares for 0.1% of their portfolio. Iowa-based Dubuque Financial Bank And has invested 0.03% in CIGNA Corporation (NYSE:CI). Dnb Asset As stated it has 0% of its portfolio in CIGNA Corporation (NYSE:CI). Keeley Asset Management Corp reported 14,120 shares. Quinn Opportunity Partners Limited Company holds 0.85% or 21,000 shares. Cantab Partners Llp holds 3,546 shares. Blackrock Invest Mngmt Limited Liability Corp has invested 0.13% in CIGNA Corporation (NYSE:CI). Panagora Asset reported 15,351 shares. 9,136 are owned by Boston Private Wealth Ltd Liability Company. Janney Montgomery Scott Ltd Llc holds 0.1% or 51,650 shares. Cam Grp A S has invested 0.31% in CIGNA Corporation (NYSE:CI).

Since April 10, 2017, it had 0 insider buys, and 9 insider sales for $8.12 million activity. On Monday, April 10 the insider Sadler Jason D sold $640,418. $240,153 worth of CIGNA Corporation (NYSE:CI) was sold by Triplett Michael W on Wednesday, June 14. Shares for $1.85 million were sold by Bacus Lisa R. 20,312 CIGNA Corporation (NYSE:CI) shares with value of $3.25 million were sold by Jones Nicole S. 6,000 CIGNA Corporation (NYSE:CI) shares with value of $990,000 were sold by Manders Matthew G. The insider ZOLLARS WILLIAM D sold 1,923 shares worth $320,269.

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 $589.12 million 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. On Friday, October 2 the stock rating was initiated by Citigroup with “Buy”. On Monday, August 7 the stock rating was maintained by Citigroup with “Buy”. The stock has “Overweight” rating by JP Morgan on Wednesday, September 16. The stock of CIGNA Corporation (NYSE:CI) earned “Overweight” rating by Morgan Stanley on Monday, August 7. UBS maintained CIGNA Corporation (NYSE:CI) rating on Monday, June 5. UBS has “Buy” rating and $18600 target. The firm has “Buy” rating given on Friday, August 4 by Oppenheimer. RBC Capital Markets maintained the shares of CI in report on Monday, September 11 with “Buy” rating. As per Thursday, July 13, the company rating was maintained by Deutsche Bank. The company was initiated on Wednesday, June 7 by Morgan Stanley. The stock of CIGNA Corporation (NYSE:CI) earned “Buy” rating by Jefferies on Friday, January 8.

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

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