Assetmark Inc. Buys 26,079 Shares of Cigna Corporation (CI)
Assetmark Inc. raised its holdings in Cigna Corporation (NYSE:CI) by 5,681.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,538 shares of the health services provider’s stock after acquiring an additional 26,079 shares during the period. Assetmark Inc.’s holdings in Cigna Corporation were worth $4,961,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Saratoga Research & Investment Management purchased a new position in shares of Cigna Corporation during the 3rd quarter valued at about $112,000. Riverhead Capital Management LLC raised its holdings in shares of 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 buying an additional 3,386 shares in the last quarter. Pacer Advisors Inc. grew its position 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 worth $934,000 after acquiring an additional 165 shares during the last quarter. Norinchukin Bank The grew its position 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 worth $2,974,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Seven Eight Capital LP grew its position 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 worth $4,553,000 after acquiring an additional 22,700 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.
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In other Cigna Corporation news, Director William D. Zollars sold 1,232 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the company’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 sold 12,471 shares of company stock valued at $2,449,891 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Shares of Cigna Corporation (CI) traded down $1.27 on Thursday, hitting $200.72. The company had a trading volume of 791,400 shares, compared to its average volume of 1,352,542. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.37. Cigna Corporation has a one year low of $131.03 and a one year high of $206.45. The company has a market capitalization of $49,800.57, a price-to-earnings ratio of 19.46, a P/E/G ratio of 1.54 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.47. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. Cigna Corporation’s revenue was up 5.1% compared to the same quarter last year. research analysts anticipate that Cigna Corporation will post 10.34 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on CI shares. Morgan Stanley raised their price target on Cigna Corporation from $184.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Deutsche Bank AG lifted their price objective on Cigna Corporation from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. BidaskClub upgraded Cigna Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Jefferies Group LLC lifted their price objective on Cigna Corporation from $221.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, Credit Suisse Group restated a “buy” rating and set a $196.00 price target on shares of Cigna Corporation in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $201.50.
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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