Cibc World Markets Corp cut its stake in Cigna Corporation (NYSE:CI) by 51.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,778 shares of the health services provider’s stock after selling 165,189 shares during the quarter. Cibc World Markets Corp owned approximately 0.06% of Cigna Corporation worth $26,410,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CI. American Beacon Advisors Inc. acquired a new position in Cigna Corporation in the first quarter valued at approximately $102,000. Founders Capital Management acquired a new position in Cigna Corporation in the first quarter valued at approximately $117,000. Mckinley Capital Management LLC Delaware acquired a new position in Cigna Corporation in the first quarter valued at approximately $122,000. Parallel Advisors LLC lifted its holdings in 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 during the period. Finally, Guardian Life Insurance Co. of America lifted its holdings 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 valued at $145,000 after acquiring an additional 7 shares during the period. 87.94% of the stock is owned by institutional investors.

Several brokerages have recently weighed in on CI. ValuEngine downgraded Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Credit Suisse Group began coverage on Cigna Corporation in a research note on Monday, June 12th. They set an “outperform” rating and a $185.00 target price for the company. CIBC upped their target price on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $177.00 target price on shares of Cigna Corporation in a research note on Tuesday, June 13th. Finally, Bank of America Corporation upped their target price on Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, June 23rd. Two 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. Cigna Corporation presently has an average rating of “Buy” and an average target price of $185.63.

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Cigna Corporation (CI) traded up 0.33% on Friday, reaching $182.74. The company had a trading volume of 1,628,029 shares. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $188.36. The company has a market capitalization of $46.01 billion, a PE ratio of 21.08 and a beta of 0.43. The company’s 50-day moving average is $180.07 and its 200-day moving average is $165.77.

Cigna Corporation (NYSE:CI) last issued its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.98 earnings per share. Equities analysts anticipate that Cigna Corporation will post $10.02 EPS for the current fiscal year.

In related news, insider Matthew G. Manders sold 24,357 shares of Cigna Corporation stock in a transaction on Friday, July 21st. The stock was sold at an average price of $175.01, for a total transaction of $4,262,718.57. Following the completion of the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at $8,095,262.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Isaiah Harris, Jr. sold 247 shares of Cigna Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,653 shares of company stock valued at $12,437,684. 1.30% of the stock is currently owned by 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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Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

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