Washington Trust Bank lowered its position in shares of CIGNA Co. (NYSE:CI) by 16.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,655 shares of the health services provider’s stock after selling 325 shares during the quarter. Washington Trust Bank’s holdings in CIGNA were worth $282,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in CI. Veritas Asset Management LLP purchased a new stake in CIGNA in the first quarter worth approximately $409,675,000. Massachusetts Financial Services Co. MA boosted its holdings in CIGNA by 42.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,447,120 shares of the health services provider’s stock worth $913,701,000 after purchasing an additional 1,625,772 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in CIGNA by 515.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 640,628 shares of the health services provider’s stock worth $107,458,000 after purchasing an additional 536,469 shares during the last quarter. Levin Capital Strategies L.P. purchased a new stake in CIGNA in the first quarter worth approximately $50,972,000. Finally, Natixis boosted its holdings in CIGNA by 372.8% in the first quarter. Natixis now owns 366,871 shares of the health services provider’s stock worth $61,539,000 after purchasing an additional 289,278 shares during the last quarter. 87.73% of the stock is owned by institutional investors.
CI has been the topic of several research reports. Barclays initiated coverage on shares of CIGNA in a report on Thursday, March 8th. They issued an “overweight” rating and a $235.00 target price on the stock. Credit Suisse Group dropped their price target on shares of CIGNA from $232.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, March 12th. Sanford C. Bernstein initiated coverage on shares of CIGNA in a research note on Tuesday, March 13th. They set a “market perform” rating and a $194.00 price target on the stock. Zacks Investment Research cut shares of CIGNA from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, Goldman Sachs Group upgraded shares of CIGNA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $193.00 to $212.00 in a research note on Wednesday, June 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $217.00.
In other news, Director William D. Zollars sold 265 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $176.93, for a total transaction of $46,886.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Hoeltzel Mary T. Agoglia sold 1,000 shares of the firm’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $176.19, for a total transaction of $176,190.00. Following the sale, the vice president now owns 4,635 shares in the company, valued at $816,640.65. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Shares of CIGNA stock opened at $170.25 on Wednesday. The firm has a market cap of $41.12 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.06 and a beta of 0.62. CIGNA Co. has a 1-year low of $163.02 and a 1-year high of $227.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.35 and a current ratio of 0.35.
CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, May 3rd. The health services provider reported $4.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.39 by $0.72. The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $10.97 billion. CIGNA had a net margin of 5.99% and a return on equity of 20.90%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.77 EPS. equities analysts expect that CIGNA Co. will post 13.24 EPS for the current fiscal year.
CIGNA Company Profile
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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