Orbimed Advisors LLC boosted its stake in Cigna Corporation (NYSE:CI) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,266,100 shares of the health services provider’s stock after buying an additional 44,000 shares during the period. Cigna accounts for approximately 2.3% of Orbimed Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Orbimed Advisors LLC owned 0.51% of Cigna worth $236,685,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of CI. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of Cigna during the second quarter valued at $106,000. Saratoga Research & Investment Management acquired a new position in shares of Cigna during the third quarter valued at $112,000. Horan Capital Advisors LLC. acquired a new position in shares of Cigna during the third quarter valued at $123,000. Parallel Advisors LLC increased its holdings in shares of Cigna by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 307 shares during the period. Finally, Acrospire Investment Management LLC boosted its stake in Cigna by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock valued at $167,000 after buying an additional 400 shares in the last quarter. 87.85% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Isaiah Harris, Jr. sold 247 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total transaction of $45,761.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Muney sold 15,345 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $200.80, for a total value of $3,081,276.00. Following the sale, the executive vice president now directly owns 28,457 shares of the company’s stock, valued at $5,714,165.60. The disclosure for this sale can be found here. Insiders have sold a total of 36,203 shares of company stock valued at $7,211,251 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Cigna Corporation (NYSE CI) opened at $209.97 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39. Cigna Corporation has a 1 year low of $131.03 and a 1 year high of $212.46. The firm has a market capitalization of $51,768.11, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.60 and a beta of 0.50.
Cigna (NYSE:CI) last announced its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping 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 firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. During the same period last year, the company posted $1.94 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. research analysts expect that Cigna Corporation will post 10.34 earnings per share for the current fiscal year.
Several research analysts recently weighed in on CI shares. Morgan Stanley raised their target price on Cigna from $188.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. BidaskClub raised Cigna from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $191.00 target price on shares of Cigna in a research note on Sunday, September 17th. Zacks Investment Research raised Cigna from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research note on Monday, October 9th. Finally, Jefferies Group raised their target price on Cigna from $201.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Three 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. The stock presently has an average rating of “Buy” and an average target price of $201.50.
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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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