First Quadrant L P CA lessened its holdings in shares of Cigna Corp (NYSE:CI) by 51.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,262 shares of the health services provider’s stock after selling 1,344 shares during the period. First Quadrant L P CA’s holdings in Cigna were worth $237,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Campbell Wealth Management acquired a new stake in shares of Cigna during the 2nd quarter worth about $26,000. Truvestments Capital LLC acquired a new position in Cigna during the first quarter worth approximately $28,000. 1776 Wealth LLC acquired a new position in Cigna during the first quarter worth approximately $32,000. NuWave Investment Management LLC acquired a new position in Cigna during the second quarter worth approximately $36,000. Finally, American Research & Management Co. acquired a new position in Cigna during the first quarter worth approximately $37,000. 88.53% of the stock is currently owned by institutional investors and hedge funds.
In other Cigna news, Director John Partridge sold 2,700 shares of the business’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $180.04, for a total transaction of $486,108.00. Following the sale, the director now directly owns 27,216 shares in the company, valued at $4,899,968.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John M. Murabito sold 4,338 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $215.00, for a total value of $932,670.00. Following the sale, the executive vice president now owns 56,762 shares in the company, valued at $12,203,830. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,802 shares of company stock worth $48,470,825. 0.90% of the stock is owned by company insiders.
Several research analysts have commented on CI shares. Sanford C. Bernstein lowered Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 price target on the stock. in a research report on Monday, May 4th. SunTrust Banks cut their price target on Cigna from $280.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Royal Bank of Canada lifted their price target on Cigna from $249.00 to $266.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. BMO Capital Markets lifted their target price on Cigna from $215.00 to $242.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. Finally, SVB Leerink lowered their target price on Cigna from $220.00 to $207.00 and set a “market perform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $244.00.
Cigna stock opened at $172.69 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 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. The company has a market cap of $63.72 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.85 and a beta of 0.70. The stock’s 50 day moving average price is $184.19 and its 200 day moving average price is $189.90.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, July 30th. The health services provider reported $5.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.66. Cigna had a return on equity of 15.89% and a net margin of 3.41%. The firm had revenue of $39.27 billion for the quarter, compared to the consensus estimate of $37.93 billion. During the same period in the previous year, the business earned $4.30 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna Corp will post 18.49 EPS for the current fiscal year.
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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