Point View Wealth Management Inc. decreased its position in shares of Cigna Corporation (NYSE:CI) by 16.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,162 shares of the health services provider’s stock after selling 1,053 shares during the quarter. Point View Wealth Management Inc.’s holdings in Cigna Corporation were worth $965,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Saratoga Research & Investment Management acquired a new stake in shares of Cigna Corporation during the 3rd quarter valued at $112,000. Riverhead Capital Management LLC boosted its holdings in shares of Cigna Corporation by 159.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after acquiring an additional 3,386 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Cigna Corporation by 3.0% during the 2nd quarter. Pacer Advisors Inc. now owns 5,581 shares of the health services provider’s stock valued at $934,000 after acquiring an additional 165 shares in the last quarter. Norinchukin Bank The boosted its holdings in shares of Cigna Corporation by 6.4% during the 2nd quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock valued at $2,974,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Seven Eight Capital LP boosted its holdings in shares of Cigna Corporation by 504.4% during the 2nd quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock valued at $4,553,000 after acquiring an additional 22,700 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors.
CI has been the topic of several recent research reports. Deutsche Bank AG raised their price objective on Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, August 7th. Credit Suisse Group reissued a “buy” rating and set a $196.00 price objective on shares of Cigna Corporation in a report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and set a $190.00 price objective (down previously from $199.00) on shares of Cigna Corporation in a report on Friday, August 4th. BidaskClub downgraded Cigna Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $175.00 price objective on shares of Cigna Corporation in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Cigna Corporation presently has a consensus rating of “Buy” and a consensus price target of $201.50.
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Cigna Corporation (NYSE:CI) traded down $3.00 during mid-day trading on Monday, hitting $197.97. The stock had a trading volume of 980,900 shares, compared to its average volume of 1,358,438. Cigna Corporation has a 1 year low of $131.03 and a 1 year high of $206.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $48,809.45, a price-to-earnings ratio of 19.07, a PEG ratio of 1.51 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.47. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. During the same period last year, the company posted $1.94 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. equities analysts forecast that Cigna Corporation will post 10.34 earnings per share for the current year.
In related news, insider Michael W. Triplett sold 10,417 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $197.77, for a total value of $2,060,170.09. Following the completion of the sale, the insider now directly owns 32,347 shares of the company’s stock, valued at approximately $6,397,266.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,471 shares of company stock valued at $2,449,891. Corporate insiders own 1.30% of the company’s stock.
Cigna Corporation 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.
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