Van ECK Associates Corp acquired a new position in shares of CIGNA Co. (NYSE:CI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,082 shares of the health services provider’s stock, valued at approximately $694,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CQS Cayman LP lifted its holdings in shares of CIGNA by 171.4% in the second quarter. CQS Cayman LP now owns 9,500 shares of the health services provider’s stock valued at $1,615,000 after purchasing an additional 6,000 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of CIGNA by 395.3% in the second quarter. Baird Financial Group Inc. now owns 6,315 shares of the health services provider’s stock valued at $1,073,000 after purchasing an additional 5,040 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of CIGNA by 150.1% in the second quarter. Renaissance Technologies LLC now owns 788,000 shares of the health services provider’s stock valued at $133,921,000 after purchasing an additional 472,900 shares in the last quarter. Columbus Hill Capital Management L.P. lifted its holdings in shares of CIGNA by 3.3% in the second quarter. Columbus Hill Capital Management L.P. now owns 176,210 shares of the health services provider’s stock valued at $29,947,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of CIGNA by 72.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 438,063 shares of the health services provider’s stock valued at $74,449,000 after purchasing an additional 184,500 shares in the last quarter. 89.74% of the stock is owned by institutional investors and hedge funds.
CI has been the subject of a number of research analyst reports. ValuEngine upgraded CIGNA from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Jefferies Financial Group restated a “buy” rating and issued a $224.00 target price on shares of CIGNA in a report on Friday, August 3rd. SunTrust Banks increased their target price on CIGNA to $244.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research lowered CIGNA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Goldman Sachs Group upgraded CIGNA from a “neutral” rating to a “buy” rating and increased their target price for the company from $193.00 to $212.00 in a report on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $221.77.
In related news, CFO Eric P. Palmer bought 2,828 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were bought at an average cost of $177.61 per share, for a total transaction of $502,281.08. Following the completion of the acquisition, the chief financial officer now directly owns 9,678 shares in the company, valued at $1,718,909.58. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.
Shares of NYSE:CI opened at $195.11 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.35. CIGNA Co. has a 1 year low of $163.02 and a 1 year high of $227.13. The firm has a market cap of $45.48 billion, a P/E ratio of 18.65, a PEG ratio of 1.10 and a beta of 0.63.
CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, August 2nd. The health services provider reported $3.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.56. CIGNA had a return on equity of 22.27% and a net margin of 5.82%. The business had revenue of $11.50 billion during the quarter, compared to analyst estimates of $11.20 billion. During the same period last year, the company earned $2.91 earnings per share. CIGNA’s quarterly revenue was up 10.9% compared to the same quarter last year. analysts anticipate that CIGNA Co. will post 13.87 earnings per share for the current year.
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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