Algert Global LLC raised its stake in shares of Cigna Corporation (NYSE:CI) by 49.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,993 shares of the health services provider’s stock after buying an additional 4,328 shares during the period. Algert Global LLC’s holdings in Cigna Corporation were worth $2,175,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pictet Asset Management Ltd. raised its position in shares of Cigna Corporation by 2.7% in the second quarter. Pictet Asset Management Ltd. now owns 354,675 shares of the health services provider’s stock worth $57,184,000 after buying an additional 9,443 shares during the last quarter. TD Asset Management Inc. raised its stake in Cigna Corporation by 12.5% in the second quarter. TD Asset Management Inc. now owns 289,718 shares of the health services provider’s stock worth $48,496,000 after buying an additional 32,270 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in Cigna Corporation by 0.5% in the second quarter. Cullen Frost Bankers Inc. now owns 71,720 shares of the health services provider’s stock worth $12,006,000 after buying an additional 335 shares during the last quarter. IFP Advisors Inc raised its stake in Cigna Corporation by 5.3% in the second quarter. IFP Advisors Inc now owns 2,296 shares of the health services provider’s stock worth $384,000 after buying an additional 116 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Cigna Corporation by 11.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 17,658 shares of the health services provider’s stock worth $2,956,000 after buying an additional 1,819 shares during the last quarter. 86.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cigna Corporation (NYSE:CI) opened at 175.98 on Tuesday. The company’s 50-day moving average price is $170.76 and its 200-day moving average price is $157.68. Cigna Corporation has a one year low of $115.03 and a one year high of $176.98. The stock has a market cap of $45.05 billion, a PE ratio of 23.50 and a beta of 0.46.

Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a return on equity of 17.58% and a net margin of 7.46%. The business had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. Cigna Corporation’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Cigna Corporation will post $9.95 earnings per share for the current year.

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A number of brokerages have issued reports on CI. Zacks Investment Research upgraded Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Tuesday, April 25th. Credit Suisse Group began coverage on Cigna Corporation in a research note on Monday, June 12th. They issued an “outperform” rating and a $185.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and issued a $183.00 price objective (up previously from $178.00) on shares of Cigna Corporation in a research note on Friday, May 5th. Stifel Nicolaus upped their price objective on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, Oppenheimer Holdings, Inc. upped their price objective on Cigna Corporation from $174.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $179.89.

In other Cigna Corporation news, EVP Nicole S. Jones sold 20,312 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the completion of the sale, the executive vice president now owns 44,737 shares of the company’s stock, valued at $7,159,709.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa R. Bacus sold 11,455 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $161.57, for a total value of $1,850,784.35. Following the sale, the executive vice president now directly owns 24,753 shares of the company’s stock, valued at approximately $3,999,342.21. The disclosure for this sale can be found here. Insiders have sold 219,558 shares of company stock valued at $37,135,665 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

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.

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

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