MUFG Securities EMEA plc Reduces Position in Cigna Corp (NYSE:CI)

MUFG Securities EMEA plc trimmed its stake in Cigna Corp (NYSE:CI) by 29.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,000 shares of the health services provider’s stock after selling 16,638 shares during the quarter. MUFG Securities EMEA plc’s holdings in Cigna were worth $6,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its position in shares of Cigna by 463.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 17,156 shares of the health services provider’s stock worth $425,000 after acquiring an additional 14,109 shares during the last quarter. Roble Belko & Company Inc acquired a new position in shares of Cigna in the 2nd quarter valued at $143,000. Haverford Trust Co. boosted its holdings in shares of Cigna by 5.8% in the 2nd quarter. Haverford Trust Co. now owns 13,503 shares of the health services provider’s stock valued at $2,127,000 after purchasing an additional 735 shares during the last quarter. Davis Selected Advisers boosted its holdings in shares of Cigna by 7.5% in the 2nd quarter. Davis Selected Advisers now owns 106,034 shares of the health services provider’s stock valued at $16,706,000 after purchasing an additional 7,386 shares during the last quarter. Finally, Ossiam grew its stake in shares of Cigna by 84.1% during the 2nd quarter. Ossiam now owns 3,355 shares of the health services provider’s stock valued at $529,000 after buying an additional 1,533 shares during the period. 87.46% of the stock is owned by institutional investors.

In related news, CEO David Cordani purchased 32,509 shares of Cigna stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $155.17 per share, with a total value of $5,044,421.53. Company insiders own 0.80% of the company’s stock.

NYSE CI traded down $3.40 during trading hours on Wednesday, hitting $161.59. The company had a trading volume of 1,619,106 shares, compared to its average volume of 1,884,858. The firm’s 50 day moving average is $161.20 and its 200 day moving average is $161.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.70 and a quick ratio of 0.70. Cigna Corp has a fifty-two week low of $141.95 and a fifty-two week high of $226.60. The company has a market capitalization of $61.70 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.83 and a beta of 0.73.

Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.56. Cigna had a return on equity of 13.24% and a net margin of 3.60%. 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 firm posted $3.89 earnings per share. The firm’s quarterly revenue was up 198.9% on a year-over-year basis. On average, equities analysts anticipate that Cigna Corp will post 16.75 EPS for the current year.

Several brokerages recently weighed in on CI. Morgan Stanley cut their target price on Cigna from $241.00 to $207.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. ValuEngine downgraded Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Stephens set a $225.00 price target on Cigna and gave the stock a “buy” rating in a research note on Friday, August 23rd. Raymond James raised their price objective on Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research downgraded Cigna from a “buy” rating to a “hold” rating and set a $164.00 price objective on the stock. in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $212.82.

About Cigna

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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