State of Wisconsin Investment Board boosted its stake in CIGNA Co. (NYSE:CI) by 18.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 326,617 shares of the health services provider’s stock after buying an additional 51,490 shares during the period. State of Wisconsin Investment Board owned approximately 0.13% of CIGNA worth $54,672,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CI. BlackRock Inc. raised its stake in shares of CIGNA 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 in the last quarter. Waddell & Reed Financial Inc. raised its stake in CIGNA by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after buying an additional 974,747 shares during the period. Wellington Management Group LLP raised its stake in CIGNA by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after buying an additional 913,991 shares during the period. Thrivent Financial For Lutherans raised its stake in CIGNA by 7,868.4% in the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock worth $103,772,000 after buying an additional 699,500 shares during the period. Finally, AQR Capital Management LLC raised its stake in CIGNA by 221.8% in the first quarter. AQR Capital Management LLC now owns 926,328 shares of the health services provider’s stock worth $135,698,000 after buying an additional 638,426 shares during the period. 87.61% of the stock is owned by institutional investors and hedge funds.
CIGNA Co. (NYSE:CI) opened at 176.35 on Tuesday. The company has a market cap of $44.40 billion, a P/E ratio of 20.35 and a beta of 0.46. The company’s 50 day moving average price is $172.41 and its 200-day moving average price is $159.55. CIGNA Co. has a one year low of $115.03 and a one year high of $178.57.
CIGNA (NYSE:CI) last posted its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.43. CIGNA had a return on equity of 22.67% and a net margin of 7.85%. The company had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the business earned $1.98 EPS. CIGNA’s revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that CIGNA Co. will post $10.03 EPS for the current fiscal year.
WARNING: “State of Wisconsin Investment Board Increases Stake in CIGNA Co. (CI)” was posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.com-unik.info/2017/08/15/state-of-wisconsin-investment-board-increases-stake-in-cigna-co-ci.html.
CI has been the subject of a number of analyst reports. Zacks Investment Research raised CIGNA from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Jefferies Group LLC reissued a “buy” rating and set a $178.00 price objective (up previously from $172.00) on shares of CIGNA in a research note on Sunday, April 23rd. Stifel Nicolaus increased their price objective on CIGNA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Royal Bank Of Canada increased their price objective on CIGNA from $172.00 to $177.00 and gave the company an “outperform” rating in a research note on Monday, May 8th. Finally, Deutsche Bank AG increased their price objective on CIGNA from $172.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. CIGNA presently has an average rating of “Buy” and a consensus price target of $180.06.
In related news, VP Mary T. Hoeltzel sold 525 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total transaction of $93,234.75. Following the completion of the transaction, the vice president now owns 1,924 shares in the company, valued at approximately $341,683.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mary T. Hoeltzel sold 500 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total value of $83,350.00. Following the transaction, the vice president now owns 2,449 shares of the company’s stock, valued at approximately $408,248.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,539 shares of company stock valued at $44,527,348. 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.
What are top analysts saying about CIGNA Co.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CIGNA Co. and related companies.