Private Advisor Group LLC cut its stake in shares of Cigna Corporation (NYSE:CI) by 6.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,796 shares of the health services provider’s stock after selling 533 shares during the quarter. Private Advisor Group LLC’s holdings in Cigna were worth $1,473,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Cigna 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 purchasing an additional 1,184,632 shares in the last quarter. Investec Asset Management LTD boosted its holdings in Cigna by 35.4% in the third quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock valued at $345,764,000 after purchasing an additional 483,904 shares in the last quarter. FMR LLC boosted its holdings in Cigna by 6.7% in the second quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock valued at $1,156,604,000 after purchasing an additional 432,978 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Cigna by 4,082.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 438,231 shares of the health services provider’s stock valued at $73,355,000 after purchasing an additional 427,754 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cigna by 2.5% in the second quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock valued at $2,867,514,000 after purchasing an additional 424,469 shares in the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on CI. Zacks Investment Research downgraded Cigna from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Citigroup upped their price target on Cigna from $198.00 to $231.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Morgan Stanley upped their price target on Cigna from $195.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Jefferies Group upped their price target on Cigna from $221.00 to $231.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price target (up from $185.00) on shares of Cigna in a report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $201.50.
Shares of Cigna Corporation (CI) opened at $206.00 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.37. Cigna Corporation has a 52 week low of $131.03 and a 52 week high of $212.46. The firm has a market capitalization of $50,790.00, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.56 and a beta of 0.50.
Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.47. Cigna had a return on equity of 18.85% and a net margin of 5.74%. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.17 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. equities research analysts expect that Cigna Corporation will post 10.34 EPS for the current year.
In other Cigna news, insider Michael W. Triplett sold 10,417 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $197.77, for a total value of $2,060,170.09. Following the completion of the transaction, the insider now owns 32,347 shares in the company, valued at $6,397,266.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,203 shares of company stock valued at $7,211,251. 1.30% of the stock is owned by company insiders.
Cigna 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.
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