Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Cigna Corporation (CI)
Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cigna Corporation (NYSE:CI) by 29.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,193 shares of the health services provider’s stock after acquiring an additional 25,981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cigna Corporation were worth $21,347,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Saratoga Research & Investment Management acquired a new stake in Cigna Corporation during the 3rd quarter valued at $112,000. Riverhead Capital Management LLC grew its holdings in Cigna Corporation by 159.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after purchasing an additional 3,386 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Cigna Corporation by 3.0% during the 2nd quarter. Pacer Advisors Inc. now owns 5,581 shares of the health services provider’s stock valued at $934,000 after purchasing an additional 165 shares in the last quarter. Norinchukin Bank The grew its holdings in Cigna Corporation by 6.4% during the 2nd quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock valued at $2,974,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Seven Eight Capital LP grew its holdings in Cigna Corporation by 504.4% during the 2nd quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock valued at $4,553,000 after purchasing an additional 22,700 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.
Cigna Corporation (NYSE:CI) traded down $1.35 during trading on Wednesday, hitting $200.64. 302,930 shares of the stock were exchanged, compared to its average volume of 1,355,036. 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 company has a market cap of $49,164.48, a P/E ratio of 19.21, a P/E/G ratio of 1.52 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last posted 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. Cigna Corporation had a net margin of 5.74% and a return on equity of 18.85%. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. During the same period last year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. equities analysts expect that Cigna Corporation will post 10.34 EPS for the current year.
A number of equities research analysts recently weighed in on CI shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $191.00 price target on shares of Cigna Corporation in a report on Sunday, September 17th. Deutsche Bank AG raised their price target on shares of Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, August 7th. Credit Suisse Group reaffirmed a “buy” rating and set a $196.00 price target on shares of Cigna Corporation in a report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 price target (down from $199.00) on shares of Cigna Corporation in a report on Friday, August 4th. Finally, BidaskClub lowered shares of Cigna Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $201.50.
In related news, Director William D. Zollars sold 1,232 shares of Cigna Corporation stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total value of $230,667.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael W. Triplett sold 10,417 shares of Cigna Corporation stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $197.77, for a total transaction of $2,060,170.09. Following the completion of the sale, the insider now owns 32,347 shares in the company, valued at $6,397,266.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,471 shares of company stock worth $2,449,891. Insiders own 1.30% of the company’s stock.
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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