Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Cigna Corp (NYSE:CI) by 50.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 22,190 shares of the health services provider’s stock after selling 22,937 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Cigna were worth $3,932,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Braun Bostich & Associates Inc. purchased a new position in Cigna in the fourth quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in shares of Cigna in the 1st quarter valued at $28,000. 1776 Wealth LLC acquired a new position in shares of Cigna in the 1st quarter valued at $32,000. Procyon Private Wealth Partners LLC purchased a new position in shares of Cigna in the 4th quarter valued at $35,000. Finally, Wealth Quarterback LLC acquired a new stake in Cigna during the 4th quarter worth $37,000. 89.71% of the stock is owned by hedge funds and other institutional investors.
In other Cigna news, EVP John M. Murabito sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $210.00, for a total transaction of $1,050,000.00. Following the sale, the executive vice president now directly owns 61,100 shares in the company, valued at $12,831,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 49,826 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $200.00, for a total value of $9,965,200.00. Following the completion of the sale, the chief executive officer now directly owns 84,418 shares in the company, valued at approximately $16,883,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,746 shares of company stock worth $23,449,093. 0.90% of the stock is owned by insiders.
Shares of CI stock opened at $189.00 on Friday. The business’s fifty day moving average price is $185.09 and its 200 day moving average price is $192.94. The firm has a market capitalization of $69.62 billion, a PE ratio of 14.52, a P/E/G ratio of 0.92 and a beta of 0.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.67 and a quick ratio of 0.67. Cigna Corp has a 1-year low of $118.50 and a 1-year high of $224.64.
Cigna (NYSE:CI) last issued its earnings results on Thursday, April 30th. The health services provider reported $4.69 EPS for the quarter, topping the consensus estimate of $4.35 by $0.34. Cigna had a net margin of 3.19% and a return on equity of 15.05%. The company had revenue of $38.39 billion for the quarter, compared to analyst estimates of $37.09 billion. During the same period in the previous year, the firm earned $3.90 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Equities research analysts expect that Cigna Corp will post 18.41 earnings per share for the current fiscal year.
Several equities analysts have issued reports on CI shares. SunTrust Banks dropped their price objective on Cigna from $280.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Sanford C. Bernstein cut Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 target price for the company. in a research report on Monday, May 4th. Raymond James lifted their price target on Cigna from $210.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Monday, May 4th. Morgan Stanley boosted their price objective on Cigna from $251.00 to $258.00 and gave the company an “overweight” rating in a research note on Monday, April 13th. Finally, Evercore ISI began coverage on shares of Cigna in a research report on Friday, February 7th. They set a “hold” rating and a $230.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $241.43.
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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