Pitcairn Co. cut its holdings in Cigna Corp (NYSE:CI) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,792 shares of the health services provider’s stock after selling 109 shares during the period. Pitcairn Co.’s holdings in Cigna were worth $337,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Campbell Wealth Management bought a new position in Cigna during the 2nd quarter valued at about $26,000. Truvestments Capital LLC bought a new position in Cigna during the 1st quarter valued at about $28,000. 1776 Wealth LLC bought a new position in Cigna during the 1st quarter valued at about $32,000. NuWave Investment Management LLC bought a new position in Cigna during the 2nd quarter valued at about $36,000. Finally, American Research & Management Co. bought a new position in Cigna during the 1st quarter valued at about $37,000. Institutional investors own 88.53% of the company’s stock.
NYSE CI opened at $172.69 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. The firm has a market cap of $63.72 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. The company has a 50 day moving average price of $184.19 and a 200 day moving average price of $189.90. Cigna Corp has a 52 week low of $118.50 and a 52 week high of $224.64.
In other Cigna news, Director William L. Roper sold 2,819 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $192.07, for a total transaction of $541,445.33. Following the transaction, the director now owns 10,442 shares in the company, valued at approximately $2,005,594.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy C. Wentworth sold 10,611 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $203.89, for a total transaction of $2,163,476.79. Following the transaction, the insider now owns 47,004 shares in the company, valued at approximately $9,583,645.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 231,802 shares of company stock valued at $48,470,825. 0.90% of the stock is currently owned by company insiders.
CI has been the topic of several analyst reports. Raymond James upped their price target on shares of Cigna from $210.00 to $240.00 and gave the company a “strong-buy” rating in a report on Monday, May 4th. ValuEngine cut shares of Cigna from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 4th. Sanford C. Bernstein cut shares of Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 price objective for the company. in a research report on Monday, May 4th. Barclays lowered their price objective on shares of Cigna from $232.00 to $229.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, SVB Leerink lowered their price objective on shares of Cigna from $220.00 to $207.00 and set a “market perform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $244.00.
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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