Teacher Retirement System of Texas Increases Stake in Cigna Corp (NYSE:CI)

Teacher Retirement System of Texas increased its position in Cigna Corp (NYSE:CI) by 422.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 91,071 shares of the health services provider’s stock after acquiring an additional 73,630 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cigna were worth $14,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Cigna by 61.3% in the fourth quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock valued at $936,405,000 after acquiring an additional 1,876,556 shares in the last quarter. Pennsylvania Trust Co bought a new stake in Cigna during the first quarter worth about $2,963,000. BB&T Corp lifted its position in Cigna by 7.0% during the first quarter. BB&T Corp now owns 14,764 shares of the health services provider’s stock worth $2,375,000 after purchasing an additional 961 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Cigna during the first quarter worth about $1,169,000. Finally, Exane Derivatives lifted its position in Cigna by 208.6% during the first quarter. Exane Derivatives now owns 1,287 shares of the health services provider’s stock worth $207,000 after purchasing an additional 870 shares during the period. 87.64% of the stock is owned by institutional investors.

CI has been the subject of several recent analyst reports. ValuEngine cut shares of Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Morgan Stanley cut their price objective on shares of Cigna from $241.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Citigroup reaffirmed a “buy” rating on shares of Cigna in a research report on Wednesday. Goldman Sachs Group cut shares of Cigna from a “conviction-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Raymond James upped their price objective on shares of Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $214.55.

Shares of CI stock traded down $2.48 on Friday, reaching $153.30. The company had a trading volume of 1,788,528 shares, compared to its average volume of 1,830,379. The stock has a market capitalization of $57.89 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.83 and a beta of 0.70. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.84. Cigna Corp has a one year low of $141.95 and a one year high of $226.60. The business’s 50-day moving average is $167.70 and its 200 day moving average is $165.11.

Cigna (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.56. The firm had revenue of $34.38 billion during the quarter, compared to analysts’ expectations of $33.27 billion. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The business’s revenue for the quarter was up 198.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.89 earnings per share. On average, sell-side analysts forecast that Cigna Corp will post 16.75 earnings per share for the current fiscal year.

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.

Featured Article: How do analysts define an oversold condition?

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Corp (NYSE:CI).

Institutional Ownership by Quarter for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.