Arizona State Retirement System cut its stake in shares of Cigna Corporation (NYSE:CI) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,474 shares of the health services provider’s stock after selling 2,100 shares during the period. Arizona State Retirement System’s holdings in Cigna Corporation were worth $12,968,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in CI. Guardian Life Insurance Co. of America boosted its stake in Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after buying an additional 7 shares in the last quarter. Private Trust Co. NA acquired a new stake in Cigna Corporation during the first quarter worth $205,000. Asset Advisors Corp boosted its stake in Cigna Corporation by 7.3% in the first quarter. Asset Advisors Corp now owns 29,845 shares of the health services provider’s stock worth $4,372,000 after buying an additional 2,025 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in Cigna Corporation by 3.5% in the first quarter. Wetherby Asset Management Inc. now owns 4,159 shares of the health services provider’s stock worth $609,000 after buying an additional 140 shares in the last quarter. Finally, Pennant Capital Management LLC acquired a new stake in Cigna Corporation during the first quarter worth $47,243,000. Institutional investors and hedge funds own 86.91% of the company’s stock.
Cigna Corporation (CI) opened at 175.36 on Friday. The stock has a market cap of $44.15 billion, a price-to-earnings ratio of 20.23 and a beta of 0.46. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $178.57. The company’s 50 day moving average price is $172.11 and its 200-day moving average price is $158.96.
Cigna Corporation (NYSE:CI) last released its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.40%. Cigna Corporation’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. On average, analysts forecast that Cigna Corporation will post $10.02 EPS for the current year.
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A number of research firms have weighed in on CI. UBS AG restated a “buy” rating and issued a $186.00 price target (up from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. Jefferies Group LLC restated a “buy” rating and issued a $183.00 price target on shares of Cigna Corporation in a research note on Thursday, June 8th. Deutsche Bank AG raised their price target on Cigna Corporation from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Royal Bank Of Canada raised their price target on Cigna Corporation from $172.00 to $177.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Finally, Bank of America Corporation raised their price target on Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $180.06.
In related news, CEO David Cordani sold 153,168 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the sale, the chief executive officer now owns 421,162 shares in the company, valued at $71,681,772.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jane E. Md Henney sold 600 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $174.14, for a total transaction of $104,484.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,014 shares of company stock worth $44,434,114. 1.30% of the stock is owned by company insiders.
About Cigna Corporation
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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