Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Cigna Corporation (NYSE:CI) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,209 shares of the health services provider’s stock after purchasing an additional 9,952 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.08% of Cigna worth $36,677,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Cigna in the second quarter valued at $106,000. Saratoga Research & Investment Management purchased a new stake in shares of Cigna in the third quarter valued at $112,000. Horan Capital Advisors LLC. purchased a new stake in shares of Cigna in the third quarter valued at $123,000. Parallel Advisors LLC raised its stake in shares of Cigna by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after acquiring an additional 307 shares during the period. Finally, Acrospire Investment Management LLC raised its stake in shares of Cigna by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock valued at $167,000 after acquiring an additional 400 shares during the period. 87.85% of the stock is currently owned by institutional investors.
Cigna Corporation (CI) opened at $206.00 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.37. The company has a market cap of $50,790.00, a PE ratio of 19.67, a PEG ratio of 1.56 and a beta of 0.50. Cigna Corporation has a 1-year low of $131.03 and a 1-year high of $212.46.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.47. The firm had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.17 billion. Cigna had a net margin of 5.74% and a return on equity of 18.85%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. research analysts predict that Cigna Corporation will post 10.34 EPS for the current year.
In other Cigna news, Chairman Isaiah Harris, Jr. sold 247 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Zollars sold 1,232 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total transaction of $230,667.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,203 shares of company stock worth $7,211,251. 1.30% of the stock is owned by company insiders.
CI has been the topic of several recent analyst reports. Jefferies Group increased their target price on shares of Cigna from $221.00 to $231.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of Cigna from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Citigroup increased their target price on shares of Cigna from $198.00 to $231.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. BMO Capital Markets initiated coverage on shares of Cigna in a research note on Monday, October 16th. They issued a “market perform” rating and a $210.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of Cigna from $195.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $201.50.
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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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