Pinebridge Investments L.P. lifted its stake in Cigna Corporation (NYSE:CI) by 97.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,951 shares of the health services provider’s stock after buying an additional 50,201 shares during the period. Pinebridge Investments L.P.’s holdings in Cigna Corporation were worth $17,066,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new stake in shares of Cigna Corporation in the first quarter valued at approximately $102,000. Founders Capital Management bought a new stake in Cigna Corporation during the first quarter worth $117,000. Mckinley Capital Management LLC Delaware bought a new stake in Cigna Corporation during the first quarter worth $122,000. Parallel Advisors LLC lifted its stake in Cigna Corporation by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after purchasing an additional 307 shares during the last quarter. Finally, Guardian Life Insurance Co. of America lifted its stake in Cigna Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.
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In other Cigna Corporation news, insider Matthew G. Manders sold 24,357 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $175.01, for a total value of $4,262,718.57. Following the sale, the insider now owns 46,256 shares in the company, valued at $8,095,262.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total transaction of $45,761.69. The disclosure for this sale can be found here. Insiders have sold 70,653 shares of company stock worth $12,437,684 in the last quarter. 1.30% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the company. Piper Jaffray Companies restated a “buy” rating and set a $191.00 target price on shares of Cigna Corporation in a research note on Sunday. Morgan Stanley upped their target price on Cigna Corporation from $188.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. BidaskClub upgraded Cigna Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Jefferies Group LLC restated a “buy” rating and set a $190.00 target price (down from $199.00) on shares of Cigna Corporation in a research note on Friday, August 4th. Finally, Zacks Investment Research cut Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Cigna Corporation currently has an average rating of “Buy” and an average target price of $182.59.
Cigna Corporation (NYSE:CI) traded down 1.40% during trading on Tuesday, hitting $182.70. 478,207 shares of the stock were exchanged. The stock has a market cap of $46.00 billion, a P/E ratio of 21.08 and a beta of 0.43. The stock has a 50 day moving average of $179.84 and a 200-day moving average of $165.56. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $188.36.
Cigna Corporation (NYSE:CI) last released its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The firm had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the company earned $1.98 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts expect that Cigna Corporation will post $10.02 EPS for the current fiscal year.
About Cigna Corporation
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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