Cigna Corp. (CI) Shares Sold by GAM Holding AG
GAM Holding AG decreased its position in Cigna Corp. (NYSE:CI) by 55.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,183 shares of the company’s stock after selling 54,293 shares during the period. GAM Holding AG’s holdings in Cigna Corp. were worth $5,758,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Rikoon Group LLC acquired a new position in Cigna Corp. during the third quarter valued at about $338,000. Ngam Advisors L.P. raised its position in Cigna Corp. by 37.1% in the third quarter. Ngam Advisors L.P. now owns 41,693 shares of the company’s stock valued at $5,434,000 after buying an additional 11,276 shares in the last quarter. Sentry Investment Management LLC raised its position in Cigna Corp. by 1.8% in the third quarter. Sentry Investment Management LLC now owns 19,803 shares of the company’s stock valued at $2,581,000 after buying an additional 358 shares in the last quarter. Pzena Investment Management LLC raised its position in Cigna Corp. by 17.5% in the third quarter. Pzena Investment Management LLC now owns 906,125 shares of the company’s stock valued at $118,086,000 after buying an additional 134,720 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Cigna Corp. by 3.3% in the third quarter. Daiwa Securities Group Inc. now owns 6,350 shares of the company’s stock valued at $828,000 after buying an additional 200 shares in the last quarter. 84.62% of the stock is owned by hedge funds and other institutional investors.
Cigna Corp. (NYSE:CI) traded up 1.24% on Tuesday, reaching $138.46. The company had a trading volume of 1,006,049 shares. The stock has a market capitalization of $35.55 billion, a PE ratio of 18.82 and a beta of 0.50. The stock’s 50 day moving average price is $128.01 and its 200-day moving average price is $129.25. Cigna Corp. has a 12-month low of $115.03 and a 12-month high of $148.99.
Cigna Corp. (NYSE:CI) last posted its earnings results on Thursday, November 3rd. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. Cigna Corp. had a net margin of 4.87% and a return on equity of 16.17%. The business earned $9.90 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Equities analysts expect that Cigna Corp. will post $7.98 earnings per share for the current fiscal year.
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Several equities analysts have weighed in on the company. Jefferies Group reissued a “buy” rating on shares of Cigna Corp. in a report on Tuesday, August 23rd. Evercore ISI assumed coverage on Cigna Corp. in a report on Thursday, September 22nd. They set a “hold” rating and a $134.00 price objective for the company. Leerink Swann reissued a “buy” rating and set a $155.00 price objective on shares of Cigna Corp. in a report on Monday, September 26th. Zacks Investment Research lowered Cigna Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Finally, William Blair reissued a “buy” rating on shares of Cigna Corp. in a report on Wednesday, August 31st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $156.00.
In other news, EVP John M. Murabito sold 58,822 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $125.09, for a total transaction of $7,358,043.98. Following the completion of the sale, the executive vice president now owns 115,109 shares of the company’s stock, valued at approximately $14,398,984.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jason D. Sadler sold 4,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $121.80, for a total transaction of $487,200.00. Following the sale, the insider now directly owns 34,019 shares of the company’s stock, valued at approximately $4,143,514.20. The disclosure for this sale can be found here. 1.20% of the stock is currently 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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