Coronation Fund Managers Ltd. bought a new stake in Cigna Corp (NYSE:CI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,664 shares of the health services provider’s stock, valued at approximately $5,304,000.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Cigna by 82.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,539,322 shares of the health services provider’s stock valued at $672,215,000 after acquiring an additional 1,600,531 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Cigna by 61.3% in the 4th quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock worth $936,405,000 after purchasing an additional 1,876,556 shares in the last quarter. Intl Fcstone Inc. acquired a new stake in shares of Cigna in the 1st quarter worth $223,000. Lowe Wealth Advisors LLC acquired a new stake in shares of Cigna in the 1st quarter worth $34,000. Finally, Wiley BROS. Aintree Capital LLC boosted its position in shares of Cigna by 21.0% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 1,499 shares of the health services provider’s stock worth $241,000 after purchasing an additional 260 shares in the last quarter. 88.13% of the stock is currently owned by institutional investors and hedge funds.
CI has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $245.00 price objective on shares of Cigna in a research report on Sunday, April 21st. Goldman Sachs Group cut Cigna from a “conviction-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley lowered their price objective on Cigna from $241.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. ValuEngine cut Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Finally, Raymond James raised their price objective on Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $215.24.
CI stock traded down $2.98 during midday trading on Monday, reaching $161.60. The stock had a trading volume of 19,497 shares, compared to its average volume of 2,188,346. The firm has a market cap of $61.85 billion, a PE ratio of 11.37, a PEG ratio of 0.85 and a beta of 0.70. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $166.14. Cigna Corp has a 52-week low of $141.95 and a 52-week high of $226.60.
Cigna (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.56. The company had revenue of $34.38 billion during the quarter, compared to analyst estimates of $33.27 billion. Cigna had a return on equity of 14.32% and a net margin of 3.60%. The firm’s quarterly revenue was up 198.9% on a year-over-year basis. During the same quarter last year, the business posted $3.89 EPS. As a group, research analysts forecast that Cigna Corp will post 16.74 EPS for the current fiscal year.
Cigna Company 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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