Cigna Corporation (CI) Shares Bought by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. raised its position in shares of Cigna Corporation (NYSE:CI) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 4,192 shares of the health services provider’s stock after buying an additional 33 shares during the period. Wetherby Asset Management Inc.’s holdings in Cigna Corporation were worth $702,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CI. BlackRock Inc. increased its stake in shares of 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 buying an additional 16,289,943 shares during the period. Waddell & Reed Financial Inc. increased its stake in shares of Cigna Corporation by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after buying an additional 974,747 shares during the period. Wellington Management Group LLP increased its stake in shares of 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 buying an additional 913,991 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Cigna Corporation by 7,868.4% in the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock worth $103,772,000 after buying an additional 699,500 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Cigna Corporation by 221.8% in the first quarter. AQR Capital Management LLC now owns 926,328 shares of the health services provider’s stock worth $135,698,000 after buying an additional 638,426 shares during the period. Hedge funds and other institutional investors own 86.91% of the company’s stock.
Cigna Corporation (NYSE CI) opened at 174.38 on Friday. The stock has a market capitalization of $43.91 billion, a PE ratio of 20.12 and a beta of 0.46. The stock’s 50 day moving average price is $172.22 and its 200 day moving average price is $159.17. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $178.57.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings results 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 7.46%. The firm had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same period last year, the company earned $1.98 EPS. Cigna Corporation’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Cigna Corporation will post $10.02 earnings per share for the current fiscal year.
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CI has been the subject of a number of research analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $178.00 price target (up previously from $172.00) on shares of Cigna Corporation in a research report on Sunday, April 23rd. Zacks Investment Research upgraded Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research report on Tuesday, April 25th. Stifel Nicolaus boosted their target price on Cigna Corporation from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Deutsche Bank AG boosted their target price on Cigna Corporation from $172.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Finally, Royal Bank Of Canada boosted their target price on Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $180.06.
In other Cigna Corporation news, EVP Nicole S. Jones sold 20,312 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the transaction, the executive vice president now directly owns 44,737 shares in the company, valued at approximately $7,159,709.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 153,168 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $170.20, for a total value of $26,069,193.60. Following the transaction, the chief executive officer now owns 421,162 shares in the company, valued at $71,681,772.40. The disclosure for this sale can be found here. Insiders have sold a total of 261,539 shares of company stock valued at $44,527,348 over the last three months. 1.30% of the stock is owned by corporate 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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