CHURCHILL MANAGEMENT Corp purchased a new position in shares of Cigna Corporation (NYSE:CI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,774 shares of the health services provider’s stock, valued at approximately $632,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in shares of Cigna Corporation during the first quarter valued at $102,000. Baystate Wealth Management LLC increased its position in shares of Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock valued at $116,000 after buying an additional 628 shares during the period. Founders Capital Management acquired a new position in shares of Cigna Corporation during the first quarter valued at $117,000. Mckinley Capital Management LLC Delaware purchased a new stake in Cigna Corporation during the first quarter valued at $122,000. Finally, Guardian Life Insurance Co. of America increased 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 valued at $145,000 after buying an additional 7 shares during the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.
Shares of Cigna Corporation (NYSE:CI) traded down 0.56% during mid-day trading on Friday, reaching $174.38. 1,174,009 shares of the company were exchanged. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $178.57. The company has a market capitalization of $43.91 billion, a price-to-earnings ratio of 20.12 and a beta of 0.46. The firm’s 50-day moving average is $172.11 and its 200-day moving average is $158.96.
Cigna Corporation (NYSE:CI) last posted its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.40%. The business had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same period last year, the business posted $1.98 EPS. Cigna Corporation’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Cigna Corporation will post $10.02 earnings per share for the current fiscal year.
Several research firms have weighed in on CI. UBS AG reiterated a “buy” rating and set a $186.00 price target (up previously from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $183.00 price target on shares of Cigna Corporation in a report on Thursday, June 8th. Deutsche Bank AG upped their price target on Cigna Corporation from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Royal Bank Of Canada boosted their price objective on Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Bank of America Corporation upped their price target on Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $180.06.
In other news, insider Jason D. Sadler sold 37,756 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $176.16, for a total transaction of $6,651,096.96. Following the completion of the transaction, the insider now directly owns 47,844 shares of the company’s stock, valued at approximately $8,428,199.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael W. Triplett sold 3,700 shares of Cigna Corporation stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $174.96, for a total transaction of $647,352.00. Following the transaction, the insider now directly owns 21,060 shares of the company’s stock, valued at $3,684,657.60. The disclosure for this sale can be found here. Insiders sold a total of 261,014 shares of company stock worth $44,434,114 over the last quarter. 1.30% of the stock is currently 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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