Korea Investment CORP Decreases Position in Cigna Corporation (CI)
Korea Investment CORP reduced its stake in shares of Cigna Corporation (NYSE:CI) by 44.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 147,783 shares of the health services provider’s stock after selling 116,163 shares during the period. Korea Investment CORP owned about 0.06% of Cigna Corporation worth $24,737,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new stake in Cigna Corporation during the first quarter valued at approximately $102,000. Baystate Wealth Management LLC boosted its stake in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock valued at $116,000 after buying an additional 628 shares in the last quarter. Founders Capital Management bought a new stake in Cigna Corporation during the first quarter valued at approximately $117,000. Mckinley Capital Management LLC Delaware bought a new stake in Cigna Corporation during the first quarter valued at approximately $122,000. Finally, Guardian Life Insurance Co. of America boosted its stake in Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock valued at $145,000 after buying an additional 7 shares in the last quarter. 86.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cigna Corporation (NYSE:CI) opened at 172.55 on Monday. The stock has a 50 day moving average of $170.76 and a 200-day moving average of $157.68. The company has a market capitalization of $44.18 billion, a PE ratio of 23.04 and a beta of 0.46. Cigna Corporation has a one year low of $115.03 and a one year high of $178.50.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.58%. The company had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same period last year, the firm earned $1.98 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Cigna Corporation will post $9.79 earnings per share for the current fiscal year.
Several research firms recently commented on CI. UBS AG reaffirmed a “buy” rating and issued a $186.00 price objective (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation boosted their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $183.00 price objective on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine cut shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Deutsche Bank AG boosted their price target on shares of Cigna Corporation from $172.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Cigna Corporation presently has a consensus rating of “Buy” and an average target price of $177.17.
In related news, CEO David Cordani sold 153,168 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the transaction, the chief executive officer now directly owns 421,162 shares of the company’s stock, valued at $71,681,772.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jane E. Md Henney sold 600 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $174.14, for a total transaction of $104,484.00. The disclosure for this sale can be found here. Insiders have sold 219,558 shares of company stock worth $37,135,665 over the last three months. 1.30% of the stock is owned by insiders.
Cigna Corporation 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, and Other Operations and Corporate.
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