Westpac Banking Corp lessened its stake in Cigna Corporation (NYSE:CI) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,418 shares of the health services provider’s stock after selling 509 shares during the quarter. Westpac Banking Corp’s holdings in Cigna Corporation were worth $3,443,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CI. American Beacon Advisors Inc. acquired a new stake in shares of Cigna Corporation in the first quarter valued at approximately $102,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in Cigna Corporation in the second quarter worth approximately $106,000. Saratoga Research & Investment Management purchased a new position in Cigna Corporation in the third quarter worth approximately $112,000. Parallel Advisors LLC grew its position in Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after acquiring an additional 307 shares during the period. Finally, Acrospire Investment Management LLC grew its position in Cigna Corporation by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock worth $167,000 after acquiring an additional 400 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.
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In other news, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa R. Bacus sold 2,236 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $179.95, for a total value of $402,368.20. Following the completion of the sale, the executive vice president now owns 18,501 shares in the company, valued at $3,329,254.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,940 shares of company stock worth $1,419,384. Insiders own 1.30% of the company’s stock.
Several brokerages recently weighed in on CI. Citigroup Inc. increased their price objective on Cigna Corporation from $198.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley increased their price objective on Cigna Corporation from $195.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Group LLC increased their price objective on Cigna Corporation from $221.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective (up from $185.00) on shares of Cigna Corporation in a research report on Friday. Finally, Credit Suisse Group began coverage on Cigna Corporation in a research report on Thursday. They issued an “outperform” rating and a $219.00 price objective for the company. Two 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’s stock. Cigna Corporation has a consensus rating of “Buy” and a consensus price target of $201.50.
Cigna Corporation (NYSE:CI) opened at $201.90 on Monday. The stock has a market capitalization of $49,778.38, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data 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. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.17 billion. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.94 earnings per share. analysts forecast that Cigna Corporation will post 10.39 EPS for the current fiscal year.
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.
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