Traders Sell Shares of Cigna Corporation (CI) on Strength (CI)
Investors sold shares of Cigna Corporation (NYSE:CI) on strength during trading hours on Tuesday. $43.17 million flowed into the stock on the tick-up and $60.98 million flowed out of the stock on the tick-down, for a money net flow of $17.81 million out of the stock. Of all companies tracked, Cigna Corporation had the 0th highest net out-flow for the day. Cigna Corporation traded up $2.14 for the day and closed at $185.31
A number of brokerages have recently commented on CI. UBS AG reaffirmed a “buy” rating and set a $186.00 price objective (up previously from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $185.00 price objective on shares of Cigna Corporation in a research note on Wednesday, August 9th. Deutsche Bank AG raised their price objective on shares of Cigna Corporation from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research cut shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Citigroup Inc. raised their price objective on shares of Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $180.44.
The firm’s 50-day moving average price is $177.14 and its 200 day moving average price is $163.43. The stock has a market cap of $46.50 billion, a P/E ratio of 21.31 and a beta of 0.43.
Cigna Corporation (NYSE:CI) last posted its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.43. The company had revenue of $10.32 billion for 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 5.55%. Cigna Corporation’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 earnings per share. Equities research analysts forecast that Cigna Corporation will post $10.02 earnings per share for the current fiscal year.
In other Cigna Corporation news, EVP Lisa R. Bacus sold 2,236 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total value of $402,368.20. Following the sale, the executive vice president now owns 18,501 shares of the company’s stock, valued at $3,329,254.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 153,168 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the sale, the chief executive officer now directly owns 421,162 shares in the company, valued at approximately $71,681,772.40. The disclosure for this sale can be found here. Insiders sold 223,781 shares of company stock worth $38,470,603 in the last three months. 1.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Cigna Corporation in the second quarter valued at $106,000. American Beacon Advisors Inc. purchased a new stake in shares of Cigna Corporation in the first quarter valued at $102,000. Founders Capital Management purchased a new stake in shares of Cigna Corporation in the first quarter valued at $117,000. Parallel Advisors LLC lifted its position in shares of Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after acquiring an additional 307 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in shares of Cigna Corporation in the first quarter valued at $122,000. Institutional investors and hedge funds own 87.96% 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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