Janney Montgomery Scott LLC Cuts Position in Cigna Corp (NYSE:CI)

Janney Montgomery Scott LLC decreased its holdings in Cigna Corp (NYSE:CI) by 2.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 32,962 shares of the health services provider’s stock after selling 800 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cigna were worth $5,193,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Cigna by 61.3% during the 4th quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock valued at $936,405,000 after purchasing an additional 1,876,556 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Cigna during the 1st quarter valued at approximately $37,000. Retirement Systems of Alabama increased its holdings in shares of Cigna by 0.9% during the 1st quarter. Retirement Systems of Alabama now owns 176,973 shares of the health services provider’s stock valued at $28,461,000 after purchasing an additional 1,640 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Cigna by 1.5% during the 1st quarter. Raymond James Trust N.A. now owns 15,552 shares of the health services provider’s stock valued at $2,501,000 after purchasing an additional 224 shares in the last quarter. Finally, Busey Wealth Management increased its holdings in Cigna by 13.1% in the 1st quarter. Busey Wealth Management now owns 31,874 shares of the health services provider’s stock worth $5,126,000 after acquiring an additional 3,689 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Shares of NYSE CI opened at $165.23 on Wednesday. The stock has a market cap of $62.77 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.87 and a beta of 0.70. The business has a fifty day moving average of $167.58. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. Cigna Corp has a one year low of $141.95 and a one year high of $226.60.

Cigna (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $34.38 billion for the quarter, compared to analysts’ expectations of $33.27 billion. During the same quarter in the previous year, the company posted $3.89 EPS. The firm’s quarterly revenue was up 198.9% on a year-over-year basis. As a group, research analysts predict that Cigna Corp will post 16.75 EPS for the current fiscal year.

Several equities research analysts recently commented on the stock. Sanford C. Bernstein raised shares of Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 price target for the company in a report on Tuesday, August 6th. ValuEngine lowered shares of Cigna from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Raymond James boosted their price target on shares of Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating and set a $164.00 price target for the company. in a report on Tuesday, June 11th. Finally, Barclays cut their price target on shares of Cigna from $220.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $214.55.

Cigna 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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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