Public Sector Pension investment Board Sells 29,300 Shares of Cigna Corporation (CI)
Public Sector Pension investment Board trimmed its holdings in shares of Cigna Corporation (NYSE:CI) by 18.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,016 shares of the health services provider’s stock after selling 29,300 shares during the period. Public Sector Pension investment Board owned about 0.05% of Cigna Corporation worth $21,763,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CI. Spot Trading L.L.C. boosted its stake in shares of Cigna Corporation by 108.9% during the 1st quarter. Spot Trading L.L.C. now owns 1,998 shares of the health services provider’s stock worth $293,000 after buying an additional 24,425 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Cigna Corporation by 7.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,409,522 shares of the health services provider’s stock worth $206,481,000 after buying an additional 103,773 shares during the last quarter. Bell Bank acquired a new position in shares of Cigna Corporation during the 1st quarter worth about $214,000. Neuburgh Advisers LLC acquired a new position in shares of Cigna Corporation during the 1st quarter worth about $293,000. Finally, Pax World Management LLC boosted its stake in shares of Cigna Corporation by 5.7% during the 1st quarter. Pax World Management LLC now owns 1,840 shares of the health services provider’s stock worth $270,000 after buying an additional 100 shares during the last quarter. Institutional investors own 87.94% of the company’s stock.
In other Cigna Corporation news, VP Mary T. Hoeltzel sold 525 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $177.59, for a total value of $93,234.75. Following the transaction, the vice president now directly owns 1,924 shares in the company, valued at $341,683.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William D. Zollars sold 1,232 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,653 shares of company stock worth $12,437,684. Corporate insiders own 1.30% of the company’s stock.
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Several brokerages recently issued reports on CI. Piper Jaffray Companies reiterated a “buy” rating and issued a $191.00 target price on shares of Cigna Corporation in a research note on Sunday. Morgan Stanley raised their target price on shares of Cigna Corporation from $188.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. BidaskClub upgraded shares of Cigna Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $190.00 target price (down from $199.00) on shares of Cigna Corporation in a research note on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $182.59.
Cigna Corporation (NYSE:CI) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.98 earnings per share.
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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