Clean Yield Group Maintains Stake in Cigna Corp. (CI)
Clean Yield Group maintained its position in Cigna Corp. (NYSE:CI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,647 shares of the company’s stock at the end of the second quarter. Clean Yield Group’s holdings in Cigna Corp. were worth $211,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. raised its stake in Cigna Corp. by 8.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 1,677 shares of the company’s stock valued at $215,000 after buying an additional 137 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Cigna Corp. during the second quarter valued at about $218,000. Capital One National Association raised its stake in Cigna Corp. by 3.5% in the second quarter. Capital One National Association now owns 1,868 shares of the company’s stock valued at $239,000 after buying an additional 63 shares during the last quarter. Atria Investments LLC acquired a new stake in Cigna Corp. during the second quarter valued at about $255,000. Finally, National Planning Corp acquired a new stake in Cigna Corp. during the first quarter valued at about $261,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cigna Corp. (NYSE:CI) traded down 1.77% during midday trading on Monday, hitting $128.01. 705,574 shares of the company traded hands. The stock has a market capitalization of $32.84 billion, a P/E ratio of 16.61 and a beta of 0.43. The company has a 50-day moving average price of $130.10 and a 200-day moving average price of $131.71. Cigna Corp. has a 52 week low of $121.87 and a 52 week high of $148.99.
Cigna Corp. (NYSE:CI) last issued 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 firm had revenue of $9.89 billion for the quarter, compared to the consensus estimate of $9.98 billion. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.55 earnings per share. Analysts anticipate that Cigna Corp. will post $7.99 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Goldman Sachs Group Inc. upgraded shares of Cigna Corp. from a “buy” rating to a “conviction-buy” rating and dropped their target price for the stock from $170.00 to $165.00 in a report on Friday, July 22nd. Jefferies Group reiterated a “buy” rating on shares of Cigna Corp. in a report on Tuesday, August 23rd. Evercore ISI assumed coverage on shares of Cigna Corp. in a report on Thursday, September 22nd. They set a “hold” rating and a $134.00 target price for the company. Leerink Swann reiterated a “buy” rating and set a $155.00 target price on shares of Cigna Corp. in a report on Monday, September 26th. Finally, Zacks Investment Research lowered shares of Cigna Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Cigna Corp. presently has an average rating of “Buy” and a consensus target price of $157.65.
In related news, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $132.28, for a total transaction of $66,140.00. Following the transaction, the vice president now directly owns 4,017 shares in the company, valued at approximately $531,368.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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