Point View Wealth Management Inc. increased its position in shares of Cigna Corporation (NYSE:CI) by 15.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,230 shares of the health services provider’s stock after buying an additional 832 shares during the period. Point View Wealth Management Inc.’s holdings in Cigna Corporation were worth $913,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Live Your Vision LLC acquired a new stake in shares of Cigna Corporation during the third quarter valued at approximately $113,000. Baystate Wealth Management LLC boosted its position in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock worth $116,000 after buying an additional 628 shares during the period. SRB Corp boosted its position in Cigna Corporation by 5.8% in the third quarter. SRB Corp now owns 1,181 shares of the health services provider’s stock worth $154,000 after buying an additional 65 shares during the period. Private Trust Co. NA purchased a new position in Cigna Corporation during the first quarter worth about $205,000. Finally, Verity & Verity LLC purchased a new position in Cigna Corporation during the first quarter worth about $214,000. 87.05% of the stock is currently owned by institutional investors.
Shares of Cigna Corporation (NYSE CI) traded up 1.08% during trading on Friday, hitting $169.08. 2,009,547 shares of the stock traded hands. The firm has a market cap of $43.29 billion, a price-to-earnings ratio of 22.57 and a beta of 0.44. The company has a 50 day moving average price of $162.47 and a 200 day moving average price of $149.97. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $170.00.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The company had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $10.11 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Cigna Corporation’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that Cigna Corporation will post $9.73 earnings per share for the current fiscal year.
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A number of equities analysts have issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and set a $183.00 target price on shares of Cigna Corporation in a report on Thursday, June 8th. Royal Bank of Canada upgraded Cigna Corporation from a “sector perform” rating to an “outperform” rating and set a $172.00 price objective for the company in a report on Thursday, February 16th. Zacks Investment Research cut Cigna Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Deutsche Bank AG lifted their price target on Cigna Corporation from $172.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Finally, Morgan Stanley started coverage on shares of Cigna Corporation in a research report on Tuesday, June 6th. They set an “overweight” rating and a $184.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Cigna Corporation currently has a consensus rating of “Buy” and an average price target of $172.82.
In other news, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total value of $83,350.00. Following the sale, the vice president now owns 2,449 shares of the company’s stock, valued at $408,248.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jason D. Sadler sold 4,213 shares of the stock in a transaction on Monday, April 10th. The shares were sold at an average price of $152.01, for a total transaction of $640,418.13. Following the completion of the sale, the insider now directly owns 36,231 shares in the company, valued at approximately $5,507,474.31. The disclosure for this sale can be found here. In the last three months, insiders sold 46,246 shares of company stock worth $7,433,839. Insiders own 1.30% of the company’s stock.
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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