Cigna Corp. (CI) Stake Lowered by Strs Ohio
Strs Ohio decreased its position in shares of Cigna Corp. (NYSE:CI) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 355,497 shares of the company’s stock after selling 50,602 shares during the period. Strs Ohio’s holdings in Cigna Corp. were worth $45,500,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacad Investment Ltd. acquired a new stake in Cigna Corp. during the first quarter worth $1,715,000. Icon Advisers Inc. Co. raised its stake in Cigna Corp. by 51.0% in the first quarter. Icon Advisers Inc. Co. now owns 53,300 shares of the company’s stock worth $7,315,000 after buying an additional 18,000 shares during the last quarter. CQS Cayman LP raised its stake in Cigna Corp. by 207.1% in the first quarter. CQS Cayman LP now owns 10,750 shares of the company’s stock worth $1,475,000 after buying an additional 7,250 shares during the last quarter. Virginia Retirement System acquired a new stake in Cigna Corp. during the first quarter worth $28,515,000. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in Cigna Corp. during the first quarter worth $775,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
Cigna Corp. (NYSE:CI) traded down 0.42% during trading on Thursday, hitting $132.00. 738,937 shares of the stock traded hands. The company’s 50 day moving average price is $129.71 and its 200-day moving average price is $132.42. The stock has a market cap of $33.87 billion, a P/E 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.
Cigna Corp. (NYSE:CI) last posted its earnings results on Friday, July 29th. The company reported $1.98 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.41. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. The firm had revenue of $9.89 billion for the quarter, compared to analysts’ expectations of $9.98 billion. During the same period in the previous year, the company earned $2.55 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Cigna Corp. will post $7.99 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CI shares. Jefferies Group reiterated a “buy” rating on shares of Cigna Corp. in a research note on Tuesday, August 23rd. William Blair reiterated a “buy” rating on shares of Cigna Corp. in a research note on Wednesday, August 31st. Barclays PLC increased their price objective on shares of Cigna Corp. from $156.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 1st. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $160.00 price objective on shares of Cigna Corp. in a research note on Thursday, September 8th. Finally, Stifel Nicolaus initiated coverage on shares of Cigna Corp. in a research note on Tuesday, June 28th. They issued a “buy” rating and a $169.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $159.50.
In related news, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $132.28, for a total transaction of $66,140.00. Following the completion of the sale, the vice president now owns 4,017 shares of the company’s stock, valued at $531,368.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Cigna Corp. 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, Other Operations and Corporate.
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