Allen Investment Management LLC Reduces Position in Cigna Corporation (CI)
Allen Investment Management LLC decreased its holdings in shares of Cigna Corporation (NYSE:CI) by 41.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,106 shares of the health services provider’s stock after selling 12,097 shares during the period. Allen Investment Management LLC’s holdings in Cigna Corporation were worth $3,198,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CI. Wetherby Asset Management Inc. lifted its holdings in shares of Cigna Corporation by 0.8% in the second quarter. Wetherby Asset Management Inc. now owns 4,192 shares of the health services provider’s stock worth $702,000 after buying an additional 33 shares in the last quarter. Cadence Capital Management LLC raised its stake in shares of Cigna Corporation by 0.3% during the second quarter. Cadence Capital Management LLC now owns 9,598 shares of the health services provider’s stock worth $1,607,000 after acquiring an additional 33 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Cigna Corporation by 1.9% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,814 shares of the health services provider’s stock worth $304,000 after acquiring an additional 34 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cigna Corporation by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,760 shares of the health services provider’s stock worth $295,000 after purchasing an additional 40 shares during the last quarter. Finally, Veritable L.P. grew its holdings in shares of Cigna Corporation by 0.5% in the second quarter. Veritable L.P. now owns 8,220 shares of the health services provider’s stock worth $1,376,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 89.69% of the company’s stock.
Shares of Cigna Corporation (CI) traded down $0.47 on Wednesday, reaching $197.14. The company’s stock had a trading volume of 1,263,100 shares, compared to its average volume of 1,361,488. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. Cigna Corporation has a one year low of $131.03 and a one year high of $206.45. The firm has a market capitalization of $48,720.69, a price-to-earnings ratio of 19.04, a P/E/G ratio of 1.51 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.47. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share. analysts anticipate that Cigna Corporation will post 10.34 earnings per share for the current fiscal year.
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In other news, Chairman Isaiah Harris, Jr. sold 247 shares of Cigna Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William D. Zollars sold 1,232 shares of Cigna Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total value of $230,667.36. The disclosure for this sale can be found here. Insiders sold 2,054 shares of company stock worth $389,721 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 target price on the stock in a report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $191.00 price target on shares of Cigna Corporation in a research report on Sunday, September 17th. ValuEngine lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Jefferies Group LLC boosted their price target on Cigna Corporation from $201.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $196.00 price objective on shares of Cigna Corporation in a research note on Friday, August 4th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Cigna Corporation presently has an average rating of “Buy” and an average target price of $201.50.
About Cigna Corporation
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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