Oppenheimer Asset Management Inc. cut its holdings in Cigna Corporation (NYSE:CI) by 30.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,910 shares of the health services provider’s stock after selling 3,025 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cigna Corporation were worth $1,156,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new stake in Cigna Corporation in the first quarter worth about $102,000. Founders Capital Management purchased a new stake in Cigna Corporation in the first quarter worth about $117,000. Mckinley Capital Management LLC Delaware purchased a new stake in Cigna Corporation in the first quarter worth about $122,000. Parallel Advisors LLC lifted its stake in Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after acquiring an additional 307 shares during the period. Finally, Guardian Life Insurance Co. of America lifted its stake in Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after acquiring an additional 7 shares during the period. 87.96% of the stock is owned by institutional investors.
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In other news, EVP Lisa R. Bacus sold 2,236 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total value of $402,368.20. Following the transaction, the executive vice president now owns 18,501 shares of the company’s stock, valued at $3,329,254.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael W. Triplett sold 1,439 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $166.89, for a total value of $240,154.71. Following the completion of the transaction, the insider now directly owns 26,199 shares in the company, valued at approximately $4,372,351.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 223,781 shares of company stock worth $38,470,603. 1.30% of the stock is currently owned by corporate insiders.
Cigna Corporation (NYSE CI) opened at 184.56 on Friday. The firm has a market cap of $46.47 billion, a P/E ratio of 21.29 and a beta of 0.43. The stock’s 50 day moving average is $177.73 and its 200 day moving average is $163.73. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $185.51.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.48 by $0.43. The company had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 earnings per share. On average, equities research analysts expect that Cigna Corporation will post $10.02 EPS for the current year.
A number of equities analysts have commented on CI shares. UBS AG reiterated a “buy” rating and issued a $186.00 target price (up from $181.00) on shares of Cigna Corporation in a report on Monday, June 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $183.00 target price on shares of Cigna Corporation in a report on Thursday, June 8th. Deutsche Bank AG boosted their target price on shares of Cigna Corporation from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Royal Bank Of Canada reiterated a “buy” rating and issued a $177.00 target price on shares of Cigna Corporation in a report on Tuesday, June 13th. Finally, Bank of America Corporation boosted their target price on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cigna Corporation has an average rating of “Buy” and a consensus target price of $181.65.
Cigna Corporation Company Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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