California Public Employees Retirement System reduced its stake in shares of Cigna Corporation (NYSE:CI) by 2.2% during the first quarter, Holdings Channel reports. The firm owned 614,046 shares of the health services provider’s stock after selling 13,700 shares during the period. California Public Employees Retirement System’s holdings in Cigna Corporation were worth $89,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox purchased a new position in Cigna Corporation during the fourth quarter valued at $1,929,534,000. Glenview Capital Management LLC purchased a new position in Cigna Corporation during the fourth quarter valued at $755,266,000. Norges Bank purchased a new position in Cigna Corporation during the fourth quarter valued at $348,456,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Cigna Corporation during the fourth quarter valued at $126,956,000. Finally, Wellington Management Group LLP raised its position in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock valued at $1,577,075,000 after buying an additional 913,991 shares during the last quarter. 86.89% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

Cigna Corporation (CI) traded down 0.35% during trading on Tuesday, reaching $169.66. 269,199 shares of the company’s stock were exchanged. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $170.56. The firm has a market cap of $43.44 billion, a price-to-earnings ratio of 22.65 and a beta of 0.44. The firm’s 50-day moving average price is $162.87 and its 200-day moving average price is $150.43.

Cigna Corporation (NYSE:CI) last announced its earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.33. Cigna Corporation had a return on equity of 16.07% and a net margin of 6.53%. The firm had revenue of $10.39 billion during the quarter, compared to analyst estimates of $10.11 billion. During the same period last year, the firm posted $2.46 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna Corporation will post $9.73 EPS for the current year.

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CI has been the topic of several recent analyst reports. Bank of America Corporation initiated coverage on shares of Cigna Corporation in a research note on Monday, March 13th. They set a “buy” rating and a $175.00 price objective on the stock. They noted that the move was a valuation call. Deutsche Bank AG initiated coverage on shares of Cigna Corporation in a report on Wednesday, April 5th. They set a “buy” rating and a $172.00 target price on the stock. Zacks Investment Research downgraded shares of Cigna Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Jefferies Group LLC restated a “buy” rating and set a $178.00 target price (up from $172.00) on shares of Cigna Corporation in a report on Sunday, April 23rd. Finally, Stifel Nicolaus raised their target price on shares of Cigna Corporation from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $172.89.

In other news, insider Jason D. Sadler sold 4,213 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $152.01, for a total transaction of $640,418.13. Following the completion of the transaction, the insider now owns 36,231 shares in the company, valued at approximately $5,507,474.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane E. Md Henney sold 600 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $156.92, for a total value of $94,152.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,246 shares of company stock valued at $7,433,839. Insiders own 1.30% of the company’s stock.

About Cigna Corporation

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, and Other Operations and Corporate.

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