Janney Montgomery Scott LLC Acquires 8,123 Shares of Cigna Corporation (CI)

Janney Montgomery Scott LLC raised its stake in Cigna Corporation (NYSE:CI) by 15.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,913 shares of the health services provider’s stock after buying an additional 8,123 shares during the period. Janney Montgomery Scott LLC’s holdings in Cigna Corporation were worth $10,364,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. Chevy Chase Trust Holdings Inc. raised its position in shares of Cigna Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 222,948 shares of the health services provider’s stock worth $32,659,000 after buying an additional 7,057 shares in the last quarter. Fulton Bank N.A. bought a new position in shares of Cigna Corporation during the first quarter worth approximately $223,000. American Investment Services Inc. raised its position in shares of Cigna Corporation by 10.1% in the first quarter. American Investment Services Inc. now owns 2,183 shares of the health services provider’s stock worth $320,000 after buying an additional 200 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Cigna Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 79,827 shares of the health services provider’s stock worth $11,693,000 after buying an additional 1,085 shares in the last quarter. Finally, National Pension Service raised its position in shares of Cigna Corporation by 2.1% in the first quarter. National Pension Service now owns 194,155 shares of the health services provider’s stock worth $28,657,000 after buying an additional 3,935 shares in the last quarter. 87.61% of the stock is currently owned by institutional investors.

Cigna Corporation (CI) opened at 177.03 on Friday. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $181.00. The company has a market capitalization of $44.57 billion, a price-to-earnings ratio of 20.43 and a beta of 0.46. The firm’s 50-day moving average price is $173.66 and its 200 day moving average price is $160.28.

Cigna Corporation (NYSE:CI) last issued its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) 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 the consensus estimate of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 earnings per share. On average, analysts expect that Cigna Corporation will post $10.03 earnings per share for the current year.

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A number of brokerages have commented on CI. UBS AG reiterated a “buy” rating and issued a $186.00 price objective (up previously from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation raised their target price on Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and set a $183.00 target price on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine downgraded Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. raised their target price on Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $180.44.

In related news, CEO David Cordani sold 153,168 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 421,162 shares in the company, valued at $71,681,772.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total transaction of $83,350.00. Following the transaction, the vice president now owns 2,449 shares in the company, valued at approximately $408,248.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,463 shares of company stock worth $41,678,984. 1.30% of the stock is owned by 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.

Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

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