Sheaff Brock Investment Advisors LLC Cuts Stock Holdings in Cigna Corp (NYSE:CI)

Sheaff Brock Investment Advisors LLC trimmed its stake in shares of Cigna Corp (NYSE:CI) by 16.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,960 shares of the health services provider’s stock after selling 755 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Cigna were worth $624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CI. Geode Capital Management LLC grew its position in Cigna by 61.3% during the fourth quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock worth $936,405,000 after buying an additional 1,876,556 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Cigna during the first quarter worth approximately $37,000. Retirement Systems of Alabama grew its position in Cigna by 0.9% during the first quarter. Retirement Systems of Alabama now owns 176,973 shares of the health services provider’s stock worth $28,461,000 after buying an additional 1,640 shares in the last quarter. Raymond James Trust N.A. grew its position in Cigna by 1.5% during the first quarter. Raymond James Trust N.A. now owns 15,552 shares of the health services provider’s stock worth $2,501,000 after buying an additional 224 shares in the last quarter. Finally, Busey Wealth Management grew its position in Cigna by 13.1% during the first quarter. Busey Wealth Management now owns 31,874 shares of the health services provider’s stock worth $5,126,000 after buying an additional 3,689 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on the company. Citigroup reduced their price target on Cigna from $228.00 to $203.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. UBS Group assumed coverage on Cigna in a research report on Tuesday, April 23rd. They set a “buy” rating and a $185.00 price target on the stock. Goldman Sachs Group downgraded Cigna from a “conviction-buy” rating to a “buy” rating in a research report on Friday, May 3rd. ValuEngine cut Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Finally, Zacks Investment Research cut Cigna from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Cigna presently has a consensus rating of “Buy” and an average price target of $214.55.

NYSE CI traded down $7.96 on Wednesday, hitting $161.51. 74,681 shares of the company’s stock were exchanged, compared to its average volume of 2,557,469. The business has a 50-day moving average price of $167.58. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. Cigna Corp has a 52 week low of $141.95 and a 52 week high of $226.60. The company has a market cap of $62.77 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70.

Cigna (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.56. Cigna had a return on equity of 13.24% and a net margin of 3.60%. The firm had revenue of $34.38 billion during the quarter, compared to analysts’ expectations of $33.27 billion. During the same period in the prior year, the company earned $3.89 earnings per share. The company’s quarterly revenue was up 198.9% on a year-over-year basis. On average, equities research analysts anticipate that Cigna Corp will post 16.75 EPS for the current year.

Cigna Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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