Putnam Investments LLC grew its position in Cigna Corp (NYSE:CI) by 10.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,819,636 shares of the health services provider’s stock after purchasing an additional 167,184 shares during the period. Putnam Investments LLC owned approximately 0.48% of Cigna worth $286,684,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Cigna by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 28,701,062 shares of the health services provider’s stock worth $4,521,852,000 after purchasing an additional 146,746 shares during the last quarter. FMR LLC boosted its holdings in shares of Cigna by 21.6% in the first quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock valued at $1,966,710,000 after acquiring an additional 2,171,463 shares in the last quarter. Veritas Asset Management LLP boosted its holdings in shares of Cigna by 10.9% in the second quarter. Veritas Asset Management LLP now owns 5,105,229 shares of the health services provider’s stock valued at $804,329,000 after acquiring an additional 500,100 shares in the last quarter. Sanders Capital LLC boosted its holdings in shares of Cigna by 9.2% in the second quarter. Sanders Capital LLC now owns 4,589,017 shares of the health services provider’s stock valued at $797,936,000 after acquiring an additional 385,620 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Cigna by 23.8% in the first quarter. Nordea Investment Management AB now owns 3,565,966 shares of the health services provider’s stock valued at $573,487,000 after acquiring an additional 686,132 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.
In other Cigna news, CEO David Cordani bought 32,509 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $155.17 per share, with a total value of $5,044,421.53. 0.80% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 price objective for the company in a report on Tuesday, August 6th. Zacks Investment Research cut shares of Cigna from a “buy” rating to a “hold” rating and set a $164.00 price objective for the company. in a report on Tuesday, June 11th. ValuEngine cut shares of Cigna from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Stephens set a $225.00 price objective on shares of Cigna and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Morgan Stanley decreased their price objective on shares of Cigna from $241.00 to $207.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $214.90.
CI stock traded down $3.77 on Tuesday, hitting $161.73. 987,392 shares of the company’s stock traded hands, compared to its average volume of 2,048,793. Cigna Corp has a 1-year low of $141.95 and a 1-year high of $226.60. The stock has a market cap of $60.74 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.82 and a beta of 0.73. The stock has a fifty day moving average of $160.49 and a 200-day moving average of $161.09. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84.
Cigna (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, beating the consensus estimate of $3.74 by $0.56. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The business had revenue of $34.38 billion during the quarter, compared to analyst estimates of $33.27 billion. During the same period in the prior year, the business earned $3.89 earnings per share. The business’s quarterly revenue was up 198.9% on a year-over-year basis. On average, equities research analysts anticipate that Cigna Corp will post 16.77 earnings per share 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.
See Also: Earnings Per Share (EPS)
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