Parametric Portfolio Associates LLC Trims Stock Position in Cigna Corp (NYSE:CI)

Parametric Portfolio Associates LLC trimmed its position in Cigna Corp (NYSE:CI) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,168,694 shares of the health services provider’s stock after selling 113,349 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.31% of Cigna worth $184,128,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CI. FMR LLC raised its position in shares of Cigna by 21.6% during the 1st quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock valued at $1,966,710,000 after buying an additional 2,171,463 shares during the period. Geode Capital Management LLC grew its position in Cigna by 61.3% in the fourth quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock worth $936,405,000 after acquiring an additional 1,876,556 shares during the period. Nordea Investment Management AB grew its position in Cigna by 23.8% in the first quarter. Nordea Investment Management AB now owns 3,565,966 shares of the health services provider’s stock worth $573,487,000 after acquiring an additional 686,132 shares during the period. Ruffer LLP increased its stake in Cigna by 41.7% during the first quarter. Ruffer LLP now owns 1,839,179 shares of the health services provider’s stock worth $295,804,000 after acquiring an additional 541,087 shares during the last quarter. Finally, Veritas Asset Management LLP increased its stake in Cigna by 10.9% during the second quarter. Veritas Asset Management LLP now owns 5,105,229 shares of the health services provider’s stock worth $804,329,000 after acquiring an additional 500,100 shares during the last quarter. 87.46% of the stock is owned by institutional investors and hedge funds.

CI traded down $3.40 during mid-day trading on Wednesday, hitting $161.59. 106,445 shares of the stock were exchanged, compared to its average volume of 1,884,858. The firm’s fifty day moving average is $161.20 and its two-hundred day moving average is $161.85. Cigna Corp has a 1-year low of $141.95 and a 1-year high of $226.60. The company has a market cap of $61.70 billion, a PE ratio of 11.36, a PEG ratio of 0.83 and a beta of 0.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84.

Cigna (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.56. The company had revenue of $34.38 billion during the quarter, compared to the consensus estimate of $33.27 billion. Cigna had a return on equity of 13.24% and a net margin of 3.60%. Cigna’s revenue was up 198.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.89 EPS. As a group, research analysts anticipate that Cigna Corp will post 16.75 earnings per share for the current year.

In other Cigna news, CEO David Cordani bought 32,509 shares of the business’s 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.

CI has been the topic of several recent analyst reports. ValuEngine lowered Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Citigroup reissued a “buy” rating on shares of Cigna in a research report on Wednesday, August 21st. Raymond James boosted their price objective on shares of Cigna from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Sanford C. Bernstein raised shares of Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 target price on the stock in a research report on Tuesday, August 6th. Finally, Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target 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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