Amalgamated Bank Has $4.87 Million Position in Cigna Corporation (CI)
Amalgamated Bank increased its position in shares of Cigna Corporation (NYSE:CI) by 58.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,084 shares of the health services provider’s stock after purchasing an additional 10,720 shares during the period. Amalgamated Bank’s holdings in Cigna Corporation were worth $4,868,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new position in Cigna Corporation during the first quarter worth about $102,000. Founders Capital Management acquired a new position in Cigna Corporation during the first quarter worth about $117,000. Mckinley Capital Management LLC Delaware acquired a new position in Cigna Corporation during the first quarter worth about $122,000. Parallel Advisors LLC grew its position in Cigna Corporation by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after buying an additional 307 shares during the period. Finally, Guardian Life Insurance Co. of America grew its position in Cigna Corporation by 0.7% during 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 period. 87.96% of the stock is owned by hedge funds and other institutional investors.
Cigna Corporation (NYSE:CI) traded up 0.54% during trading on Friday, reaching $186.23. 580,239 shares of the company’s stock were exchanged. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 21.49 and a beta of 0.43. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $188.36. The company’s 50 day moving average price is $179.12 and its 200-day moving average price is $164.84.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The firm had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts expect that Cigna Corporation will post $10.02 EPS for the current year.
Several research analysts have weighed in on the stock. UBS AG restated a “buy” rating and set a $186.00 target price (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation increased their price target 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 reiterated a “buy” rating and issued a $183.00 price target on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine lowered shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. increased their price target on shares of Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $181.65.
In related news, Director William D. Zollars sold 1,232 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 153,168 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $71,681,772.40. The disclosure for this sale can be found here. Insiders have sold 223,821 shares of company stock worth $38,506,877 over the last ninety days. 1.30% of the stock is currently owned by insiders.
Cigna Corporation 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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