Intact Investment Management Inc. Sells 2,200 Shares of Cigna Corporation (CI)

Intact Investment Management Inc. trimmed its holdings in Cigna Corporation (NYSE:CI) by 52.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,000 shares of the health services provider’s stock after selling 2,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Cigna Corporation were worth $374,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CI. Spot Trading L.L.C. boosted its stake in shares of Cigna Corporation by 108.9% during the 1st quarter. Spot Trading L.L.C. now owns 1,998 shares of the health services provider’s stock worth $293,000 after acquiring an additional 24,425 shares in the last quarter. Lucus Advisors LLC purchased a new stake in shares of Cigna Corporation during the 1st quarter worth about $407,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Cigna Corporation by 10.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 840,939 shares of the health services provider’s stock worth $123,190,000 after acquiring an additional 78,394 shares in the last quarter. Allen Investment Management LLC boosted its stake in shares of Cigna Corporation by 2.7% during the 1st quarter. Allen Investment Management LLC now owns 3,617 shares of the health services provider’s stock worth $530,000 after acquiring an additional 95 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Cigna Corporation by 26.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,115 shares of the health services provider’s stock worth $1,482,000 after acquiring an additional 2,132 shares in the last quarter. 88.23% of the stock is currently owned by institutional investors.

Cigna Corporation (NYSE:CI) last announced its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.47. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.

In other Cigna Corporation news, insider Jason D. Sadler sold 37,756 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $176.16, for a total value of $6,651,096.96. Following the sale, the insider now owns 47,844 shares of the company’s stock, valued at $8,428,199.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total transaction of $45,761.69. The disclosure for this sale can be found here. Insiders sold 45,696 shares of company stock worth $8,070,481 in the last ninety days. Insiders own 1.30% of the company’s stock.

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Several equities research analysts have recently issued reports on CI shares. Piper Jaffray Companies reissued a “buy” rating and set a $191.00 target price on shares of Cigna Corporation in a research note on Sunday, September 17th. ValuEngine lowered shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Credit Suisse Group reissued an “outperform” rating and set a $193.00 target price (up from $190.00) on shares of Cigna Corporation in a research note on Friday, July 14th. Zacks Investment Research raised shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 target price on the stock in a research note on Monday, October 9th. Finally, Deutsche Bank AG increased their target price on shares of Cigna Corporation from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $193.44.

Cigna Corporation 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.

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

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