Nationwide Fund Advisors Lowers Position in Cigna Corporation (CI)
Nationwide Fund Advisors trimmed its position in Cigna Corporation (NYSE:CI) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,284 shares of the health services provider’s stock after selling 7,942 shares during the quarter. Nationwide Fund Advisors’ holdings in Cigna Corporation were worth $12,100,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after purchasing an additional 16,289,943 shares during the period. Vanguard Group Inc. increased its position in Cigna Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,706,266 shares of the health services provider’s stock worth $2,447,301,000 after purchasing an additional 570,241 shares during the period. State Street Corp increased its position in Cigna Corporation by 1.7% in the first quarter. State Street Corp now owns 11,137,018 shares of the health services provider’s stock worth $1,631,451,000 after purchasing an additional 190,323 shares during the period. Wellington Management Group LLP increased its position in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after purchasing an additional 913,991 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Cigna Corporation by 40.8% in the second quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after purchasing an additional 1,184,632 shares during the period. Hedge funds and other institutional investors own 87.94% of the company’s stock.
Cigna Corporation (NYSE:CI) opened at 182.74 on Friday. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $188.36. The stock’s 50 day moving average price is $180.07 and its 200 day moving average price is $165.77. The firm has a market capitalization of $46.01 billion, a price-to-earnings ratio of 21.08 and a beta of 0.43.
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 Zacks’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The company had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period last year, the company earned $1.98 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Cigna Corporation will post $10.02 earnings per share for the current fiscal year.
A number of brokerages recently commented on CI. UBS AG reiterated a “buy” rating and issued a $186.00 price objective (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation lifted their price objective on Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $183.00 price objective on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. lifted their price objective on Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $185.63.
COPYRIGHT VIOLATION WARNING: This article was first reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/09/24/nationwide-fund-advisors-lowers-position-in-cigna-corporation-ci.html.
In other news, Director William D. Zollars sold 1,232 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the firm’s stock in a transaction dated 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. Insiders have sold 70,653 shares of company stock valued at $12,437,684 over the last 90 days. 1.30% of the stock is owned by corporate 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.
Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Corporation (NYSE:CI).
Receive News & Ratings for Cigna Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna Corporation and related companies with MarketBeat.com's FREE daily email newsletter.