Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its stake in shares of Cigna Corporation (NYSE:CI) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,139 shares of the health services provider’s stock after selling 4,309 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Cigna Corporation were worth $6,217,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. American Beacon Advisors Inc. acquired a new stake in Cigna Corporation during the first quarter worth $102,000. Baystate Wealth Management LLC raised its position in shares of 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 in the last quarter. Founders Capital Management purchased a new position in shares of Cigna Corporation during the first quarter worth approximately $117,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Cigna Corporation during the first quarter worth approximately $122,000. Finally, Guardian Life Insurance Co. of America raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.

Cigna Corporation (CI) opened at 175.36 on Friday. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $178.57. The stock has a market capitalization of $44.15 billion, a PE ratio of 20.23 and a beta of 0.46. The company’s 50-day moving average price is $172.11 and its 200 day moving average price is $158.96.

Cigna Corporation (NYSE:CI) last issued its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 7.46%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 earnings per share. Equities analysts forecast that Cigna Corporation will post $10.02 EPS for the current fiscal year.

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CI has been the topic of a number of research reports. Deutsche Bank AG upped their price objective on Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley upped their price objective on Cigna Corporation from $184.00 to $188.00 and gave the company an “overweight” rating in a report on Monday. CIBC upped their price objective on Cigna Corporation from $174.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, June 15th. Wells Fargo & Company reissued a “market perform” rating and set a $174.00 target price (up from $163.00) on shares of Cigna Corporation in a report on Monday, June 19th. Finally, Oppenheimer Holdings, Inc. increased their target price on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $180.06.

In related news, insider Jason D. Sadler sold 37,756 shares of Cigna Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $176.16, for a total value of $6,651,096.96. Following the completion of the transaction, the insider now owns 47,844 shares in the company, valued at $8,428,199.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 153,168 shares of Cigna Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the transaction, the chief executive officer now 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. In the last 90 days, insiders have sold 261,014 shares of company stock valued at $44,434,114. Company insiders own 1.30% of the company’s stock.

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

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