Wealthfront Advisers LLC decreased its position in Cigna Corp (NYSE:CI) by 44.2% during the first quarter, HoldingsChannel.com reports. The fund owned 5,550 shares of the health services provider’s stock after selling 4,397 shares during the quarter. Wealthfront Advisers LLC’s holdings in Cigna were worth $893,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Cigna by 56.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,304,407 shares of the health services provider’s stock valued at $627,573,000 after acquiring an additional 1,189,307 shares during the period. Edmp Inc. boosted its stake in shares of Cigna by 5.9% during the 1st quarter. Edmp Inc. now owns 3,942 shares of the health services provider’s stock valued at $634,000 after purchasing an additional 219 shares in the last quarter. IBM Retirement Fund boosted its stake in shares of Cigna by 40.1% during the 4th quarter. IBM Retirement Fund now owns 6,217 shares of the health services provider’s stock valued at $1,181,000 after purchasing an additional 1,778 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Cigna by 17.8% during the 1st quarter. Sigma Planning Corp now owns 1,427 shares of the health services provider’s stock valued at $230,000 after purchasing an additional 216 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Cigna by 1.5% during the 1st quarter. Raymond James Trust N.A. now owns 15,552 shares of the health services provider’s stock valued at $2,501,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 88.26% of the company’s stock.
NYSE:CI traded up $0.08 during mid-day trading on Friday, hitting $158.19. 40,105 shares of the company’s stock were exchanged, compared to its average volume of 2,013,959. Cigna Corp has a one year low of $141.95 and a one year high of $226.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $59.22 billion, a P/E ratio of 11.10, a PEG ratio of 0.77 and a beta of 0.70.
A number of equities research analysts have recently weighed in on CI shares. Citigroup cut their target price on shares of Cigna from $228.00 to $203.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. ValuEngine lowered shares of Cigna from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. UBS Group started coverage on shares of Cigna in a research note on Tuesday, April 23rd. They set a “buy” rating and a $185.00 target price on the stock. Zacks Investment Research lowered shares of Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Finally, Goldman Sachs Group lowered shares of Cigna from a “conviction-buy” rating to a “buy” rating in a research note on Friday, May 3rd. One 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 stock currently has an average rating of “Buy” and an average price target of $223.15.
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Cigna Company 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.
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