Cigna Corporation ($CI) Stock Forecast: Up 5.1% Today

What is Cigna Corporation?

Cigna (CI) is a healthcare company that provides insurance services and health-related products to individuals and businesses. The overall market has been positive, with investors focusing on strong corporate earnings and economic growth.

Why is Cigna Corporation going up?

CI stock is up 5.1% on Feb 5, 2024 14:00

• Cantor Fitzgerald raised Cigna to overweight and increased its target price, indicating positive sentiment towards the stock.
• Cigna reported strong Q4 results, beating profit and sales estimates, and provided strong guidance. This likely contributed to the bullish movement.
• The company also raised its dividend and experienced membership growth, further boosting investor confidence.
• The overall positive market sentiment, driven by expectations of a Fed pivot and strong economic growth, may have also played a role in the bullish movement of Cigna stock.

CI Price Chart

CI News

Cantor Fitzgerald raises Cigna to overweight, lifts target to $372

https://www.investing.com/news/stock-market-news/cantor-fitzgerald-raises-cigna-to-overweight-lifts-target-to-372-93CH-3292470

https://www.investing.com/news/stock-market-news/cantor-fitzgerald-raises-cigna-to-overweight-lifts-target-to-372-93CH-3292470

Wall Street is on the verge of change: how the US economy ignores the Fed

The current version was alarmed by evidence suggesting that the economy might be too heated for the Federal Reserve to cut rates without risking an inflation rebound. Friday''s U.S. employment data served as the latest indicator of stronger-than-expected growth after Federal Reserve Chairman Jerome Powell, a few days earlier, quashed hopes that the central bank would begin to lower rates in March. "Looking back at the fourth quarter and the recent stock rally, it can largely be attributed to the anticipation of a Fed pivot, and we are witnessing this pivot evaporate before our eyes," said Matthew Miskin, one of the chief investment strategists at John Hancock Investment Management. The Friday employment report revealed that non-farm payroll employment increased by 353,000 last month, significantly surpassing the 180,000 growth anticipated by economists. Additionally, the economy added 126,000 more jobs in November and December than previously reported. Many investors consider strong growth a positive sign for stocks, especially if it is accompanied by higher-than-expected corporate earnings.

https://www.instaforex.com/de/forex_analysis/353122

Cigna Group (CI) Q4 2023 Earnings Call Transcript

CI earnings call for the period ending December 31, 2023.

https://www.fool.com/earnings/call-transcripts/2024/02/02/cigna-group-ci-q4-2023-earnings-call-transcript/?source=iedfolrf0000001

Cigna''s Stock Surges on Q4 Results, Guidance and Dividend Boost

Cigna beat profit and sales estimates, posted strong guidance and raised its dividend as it added pharmacy and medical plan customers.

https://www.investopedia.com/cigna-s-stock-rises-on-q4-results-guidance-and-dividend-boost-8557955

Cigna ( CI ) Q4 Earnings Beat on Membership Growth, Dividend Up

Cigna (CI) expects adjusted revenues to register a minimum growth of 20.3% from the 2023 reported figure.

https://www.zacks.com/stock/news/2220493/cigna-ci-q4-earnings-beat-on-membership-growth-dividend-up

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Cigna Corporation Price History

29.10.2023 - CI Stock was down 5.9%

• The Manufacturers Life Insurance Company reduced its holdings in CI, indicating a lack of confidence in the stock.
• The partnership between Cigna Healthcare and AAR Insurance in East Africa may not have had the desired impact on the market, leading to the bearish movement.
• The overall sentiment towards healthcare stocks might be negative, contributing to the downward trend in CI's stock price.

05.01.2024 - CI Stock was up 5.1%

• Cantor Fitzgerald raised Cigna to overweight and increased its target price, indicating positive sentiment towards the stock.
• Cigna reported strong Q4 results, beating profit and sales estimates, and provided strong guidance. This likely contributed to the bullish movement.
• The company also raised its dividend and experienced membership growth, further boosting investor confidence.
• The overall positive market sentiment, driven by expectations of a Fed pivot and strong economic growth, may have also played a role in the bullish movement of Cigna stock.

07.10.2023 - CI Stock was down 5.2%

• The bearish movement in CI's stock today can be attributed to the news of Cigna exploring the sale of its Medicare Advantage business. This decision comes as the U.S. government tightens its reimbursement policies for health insurers. The potential divestment of this business, which was acquired through the HealthSpring acquisition in 2011, could fetch billions of dollars. The market may be reacting negatively to the uncertainty surrounding this strategic move by Cigna.

11.11.2023 - CI Stock was up 12.2%

• Cigna's stock surged after raising its buyback by $10 billion and stepping away from a possible merger with Humana.
• The decision to withdraw from the major deal with Humana was due to shareholder resistance.
• The increased share buyback plan by Cigna indicates confidence in its own stock and potential for future growth.
• The news of Cigna abandoning its pursuit of Humana may have reassured investors and contributed to the bullish movement of the stock.

03.01.2024 - CI Stock was up 5.1%

• Cigna beat profit and sales estimates, posted strong guidance, and raised its dividend, which contributed to the bullish movement.
• The company's membership growth and expected revenue growth also positively impacted the stock.
• The announcement of stellar fourth-quarter results further fueled the bullish sentiment.
• Overall, Cigna's strong financial performance, positive outlook, and dividend increase drove the bullish market movement for the stock.

11.11.2023 - CI Stock was up 13.6%

• Cigna's stock rose sharply in pre-market trading.
• Cigna announced that it has withdrawn from its proposed merger with Humana Inc.
• Cigna's decision to end the merger talks and focus on other opportunities led to a positive market reaction.
• Additionally, Cigna approved a new $10 billion buyback, which further boosted investor confidence and contributed to the bullish movement.

11.11.2023 - CI Stock was up 7.2%

• Cigna has terminated its merger plans with Humana following shareholder resistance.
• Cigna has increased its share buyback plan by $10 billion and abandoned its bid to buy rival Humana.
• Cigna is planning a "significant" increase in its stock buyback and will focus on acquiring smaller companies in the same industry.
• Cigna's CEO, David Cordani, believes that the company's shares are significantly undervalued.
• Overall, Cigna's bullish movement can be attributed to the company's decision to call off the merger with Humana and focus on stock buybacks, which indicates confidence in the company's future prospects. The increased buyback plan and potential acquisitions in the industry also contribute to the positive market sentiment.

11.11.2023 - CI Stock was up 13.3%

• Cigna's stock had a bullish movement today, possibly influenced by the news of Cigna dropping its bid to buy health insurance rival Humana. This decision may have been seen as a positive move for Cigna, allowing the company to focus on other growth opportunities.
• The article also mentions an LBO bid for Macy's, which could have contributed to the overall bullish sentiment in the market, as investors may have viewed this as a positive development for the retail sector.
• Additionally, the article discusses upcoming central bank meetings and potential rate cuts in 2024, which could have generated optimism among investors and contributed to the bullish market movement.
• It's worth noting that the article mentions Sea Ltd ADRs falling, but since we are focusing on Cigna, this news is not directly related to the bullish movement of CI's stock.

13.09.2023 - CI Stock was up 4.2%

• Walgreens announced Tim Wentworth as its new CEO, which might have instilled confidence in investors and contributed to the bullish movement.
• Tim Wentworth is a veteran health-care executive, having previously served as the CEO of Express Scripts, which was acquired by Cigna. This background might have been seen as positive for Walgreens and influenced the market movement.
• The appointment of a new CEO can bring fresh perspectives and strategies, leading to increased investor optimism and driving the stock price higher.
• The news about a collaborative and community approach to combat the U.S. mental health crisis, although not directly related to Walgreens, might have created a positive sentiment in the healthcare sector, benefiting Walgreens as well.

04.07.2023 - CI Stock was down 5.1%

• Despite Cigna Corp. (CI) reporting a profit that beat estimates and positive revenue growth, the stock experienced a strong bearish movement.
• The market may have reacted negatively to other factors not mentioned in the provided articles, such as concerns about the overall market sentiment or macroeconomic factors.
• It is possible that investors were expecting even better results from Cigna Corp. (CI), leading to a sell-off in the stock.
• The upgrade of Cigna Group's stock rating to "strong-buy" by StockNews.com may not have had an immediate positive impact on the stock price.

17.07.2023 - CI Stock was down 5.9%

• The announcement of top executives from DEI Champion Companies leading the Middle East edition of Break the Ceiling Touch the Sky could have diverted investor attention away from CI, leading to a bearish market movement.
• Michael Burry's decision to go long on Japan and load up on S&P and Nasdaq puts might have created a negative sentiment in the market, impacting CI's stock price.
• The attractive valuation of Cigna compared to its peers and major competitor, United Health Group, as mentioned in the article, could have attracted investors to shift their focus away from CI, resulting in a bearish movement.
• The partnership between Cigna Healthcare and Virgin Pulse to offer a digital health tool to clients might have raised concerns about potential disruptions in the healthcare sector, contributing to the bearish market movement of CI.

02.07.2023 - CI Stock was up 1.7%

• The bullish movement in CI's stock today can be attributed to several factors:
• 1. Upgraded Rating: The recent upgrade of CI's stock rating from "buy" to "strong-buy" by StockNews.com may have boosted investor confidence in the company's future prospects, leading to increased buying activity.
• 2. Specialty Pharmacy Business: CI's strength in the specialty pharmacy business, as mentioned in one of the articles, likely contributed to the positive market movement. This indicates that the company's focus on this segment is paying off and attracting investor attention.
• 3. Medical Expenses Concerns: Despite the positive market movement, concerns about higher medical expenses, as mentioned in another article, could have tempered the stock's gains. Investors may be monitoring these expenses closely to assess their impact on CI's financial performance.
• 4. Legal Issues: The allegations of Cigna using an algorithm to deny patients' claims, as highlighted in the news articles, could have created some uncertainty and negative sentiment around the company. However, it seems that these legal issues did not significantly impact the stock's bullish movement today.
• Overall, CI's bullish market movement today can be attributed to the upgraded rating, strength in the specialty pharmacy business, and potentially positive investor sentiment. However, concerns about medical expenses and legal issues should still be monitored closely.