Cigna Corp. (CI) Position Maintained by Portland Global Advisors LLC
Portland Global Advisors LLC continued to hold its stake in shares of Cigna Corp. (NYSE:CI) during the second quarter, according to its most recent filing with the SEC. The firm owned 5,287 shares of the company’s stock at the end of the second quarter. Portland Global Advisors LLC’s holdings in Cigna Corp. were worth $677,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of CI. Pioneer Investment Management Inc. boosted its stake in shares of Cigna Corp. by 1.1% in the fourth quarter. Pioneer Investment Management Inc. now owns 37,936 shares of the company’s stock valued at $5,551,000 after buying an additional 407 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Cigna Corp. by 2.4% in the first quarter. Capstone Asset Management Co. now owns 28,402 shares of the company’s stock valued at $3,898,000 after buying an additional 670 shares during the period. Private Trust Co. NA boosted its stake in shares of Cigna Corp. by 24.4% in the first quarter. Private Trust Co. NA now owns 1,847 shares of the company’s stock valued at $252,000 after buying an additional 362 shares during the period. OLD National Bancorp IN boosted its stake in shares of Cigna Corp. by 32.1% in the first quarter. OLD National Bancorp IN now owns 5,874 shares of the company’s stock valued at $807,000 after buying an additional 1,426 shares during the period. Finally, Sii Investments Inc. WI boosted its stake in shares of Cigna Corp. by 22.5% in the first quarter. Sii Investments Inc. WI now owns 3,759 shares of the company’s stock valued at $519,000 after buying an additional 690 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.
Cigna Corp. (NYSE:CI) traded down 0.42% during trading on Thursday, reaching $132.00. 738,937 shares of the company were exchanged. The stock has a market capitalization of $33.87 billion, a PE ratio of 17.12 and a beta of 0.54. Cigna Corp. has a 52-week low of $121.87 and a 52-week high of $148.99. The firm’s 50 day moving average is $129.49 and its 200 day moving average is $132.42.
Cigna Corp. (NYSE:CI) last released its quarterly earnings results on Friday, July 29th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.39 by $0.41. The company had revenue of $9.89 billion for the quarter, compared to analyst estimates of $9.98 billion. Cigna Corp. had a return on equity of 17.60% and a net margin of 5.16%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $2.55 earnings per share. Analysts expect that Cigna Corp. will post $7.99 EPS for the current year.
Several analysts recently weighed in on the stock. Goldman Sachs Group Inc. raised shares of Cigna Corp. from a “buy” rating to a “conviction-buy” rating and reduced their target price for the company from $170.00 to $165.00 in a report on Friday, July 22nd. Zacks Investment Research cut shares of Cigna Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Barclays PLC raised their target price on shares of Cigna Corp. from $156.00 to $168.00 and gave the company an “equal weight” rating in a report on Wednesday, June 1st. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $149.00 target price on shares of Cigna Corp. in a report on Friday, July 8th. Finally, Citigroup Inc. reduced their target price on shares of Cigna Corp. from $174.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $159.50.
In other Cigna Corp. news, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $132.28, for a total value of $66,140.00. Following the transaction, the vice president now directly owns 4,017 shares of the company’s stock, valued at approximately $531,368.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.
About Cigna Corp.
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, Other Operations and Corporate.
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