Cigna Corporation (CI) Stake Lowered by Northwestern Mutual Investment Management Company LLC

Northwestern Mutual Investment Management Company LLC decreased its holdings in shares of Cigna Corporation (NYSE:CI) by 81.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,785 shares of the health services provider’s stock after selling 42,176 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Cigna Corporation were worth $1,252,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock valued at $2,488,489,000 after buying an additional 16,289,943 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cigna Corporation by 40.8% in the second quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock valued at $684,413,000 after buying an additional 1,184,632 shares during the last quarter. Waddell & Reed Financial Inc. lifted its stake in Cigna Corporation by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock valued at $256,306,000 after buying an additional 974,747 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock valued at $1,577,075,000 after buying an additional 913,991 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Cigna Corporation by 7,868.4% in the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock valued at $103,772,000 after buying an additional 699,500 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

A number of brokerages have weighed in on CI. Morgan Stanley boosted their price objective on Cigna Corporation from $188.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. BidaskClub upgraded Cigna Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $190.00 price objective (down previously from $199.00) on shares of Cigna Corporation in a research note on Friday, August 4th. Zacks Investment Research cut Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $185.00 price objective on shares of Cigna Corporation in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $181.65.

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Cigna Corporation (NYSE CI) opened at 186.31 on Wednesday. Cigna Corporation has a one year low of $115.03 and a one year high of $186.37. The firm has a market cap of $46.91 billion, a price-to-earnings ratio of 21.50 and a beta of 0.43. The company’s 50-day moving average price is $178.08 and its 200-day moving average price is $164.25.

Cigna Corporation (NYSE:CI) last announced its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 EPS. On average, analysts anticipate that Cigna Corporation will post $10.02 EPS for the current year.

In other news, CEO David Cordani sold 153,168 shares of Cigna Corporation stock in a transaction on Monday, June 19th. The stock was sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the transaction, the chief executive officer now directly owns 421,162 shares in the company, valued at approximately $71,681,772.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jane E. Md Henney sold 600 shares of Cigna Corporation stock in a transaction on Monday, July 24th. The shares were sold at an average price of $174.14, for a total value of $104,484.00. The disclosure for this sale can be found here. Insiders have sold a total of 222,342 shares of company stock worth $38,230,448 in the last ninety days. 1.30% of the stock is owned by company insiders.

Cigna Corporation Company Profile

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

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