Cigna Corporation (NYSE:CI) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. boosted its position in shares of Cigna Corporation (NYSE:CI) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,900 shares of the health services provider’s stock after buying an additional 1,650 shares during the period. Daiwa Securities Group Inc.’s holdings in Cigna Corporation were worth $1,490,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Beacon Advisors Inc. purchased a new position in Cigna Corporation during the first quarter worth about $102,000. Baystate Wealth Management LLC raised its position 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 worth $116,000 after buying an additional 628 shares during the last quarter. Founders Capital Management purchased a new position in Cigna Corporation during the first quarter worth about $117,000. Mckinley Capital Management LLC Delaware purchased a new position in Cigna Corporation during the first quarter worth about $122,000. Finally, Guardian Life Insurance Co. of America raised its position 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 worth $145,000 after buying an additional 7 shares during the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.
Cigna Corporation (NYSE CI) opened at 178.08 on Thursday. The company has a market capitalization of $45.59 billion, a P/E ratio of 23.78 and a beta of 0.46. The stock’s 50 day moving average is $171.96 and its 200-day moving average is $158.84. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $178.50.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.40%. The business had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the business posted $1.98 earnings per share. Cigna Corporation’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Cigna Corporation will post $10.00 earnings per share for the current fiscal year.
CI has been the topic of a number of research analyst reports. UBS AG reiterated a “buy” rating and issued a $186.00 target price (up from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. ValuEngine upgraded shares of Cigna Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC raised their target price on shares of Cigna Corporation from $178.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Deutsche Bank AG raised their target price on shares of Cigna Corporation from $172.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Stifel Nicolaus raised their target price on shares of Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $180.06.
In related news, Director Jane E. Md Henney sold 600 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 153,168 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the sale, the chief executive officer now directly owns 421,162 shares of the company’s stock, valued at approximately $71,681,772.40. The disclosure for this sale can be found here. Insiders have sold 257,314 shares of company stock valued at $43,786,762 in the last ninety days. 1.30% of the stock is currently owned by company 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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