Alliancebernstein L.P. Reduces Holdings in Cigna Corporation (CI)
Alliancebernstein L.P. reduced its position in Cigna Corporation (NYSE:CI) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,333,385 shares of the health services provider’s stock after selling 82,680 shares during the period. Alliancebernstein L.P. owned about 1.30% of Cigna Corporation worth $557,975,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Cigna Corporation by 2,335.5% during the 1st quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after acquiring an additional 16,289,943 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cigna Corporation by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,706,266 shares of the health services provider’s stock worth $2,447,301,000 after acquiring an additional 570,241 shares in the last quarter. State Street Corp boosted its stake in shares of Cigna Corporation by 1.7% during the 1st quarter. State Street Corp now owns 11,137,018 shares of the health services provider’s stock worth $1,631,451,000 after acquiring an additional 190,323 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Cigna Corporation by 9.3% during the 1st quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after acquiring an additional 913,991 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cigna Corporation by 40.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after acquiring an additional 1,184,632 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.
Cigna Corporation (NYSE:CI) traded up 0.12% during midday trading on Friday, reaching $185.21. The company had a trading volume of 558,557 shares. The stock has a market cap of $46.63 billion, a P/E ratio of 21.37 and a beta of 0.43. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $185.51. The firm has a 50-day moving average of $177.44 and a 200-day moving average of $163.58.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The business had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the business earned $1.98 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts expect that Cigna Corporation will post $10.02 EPS for the current fiscal year.
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In other news, CEO David Cordani sold 153,168 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the completion of the transaction, the chief executive officer now directly owns 421,162 shares in the company, valued at $71,681,772.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael W. Triplett sold 1,439 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $166.89, for a total transaction of $240,154.71. Following the transaction, the insider now owns 26,199 shares of the company’s stock, valued at $4,372,351.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,781 shares of company stock valued at $38,470,603. Company insiders own 1.30% of the company’s stock.
CI has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Cigna Corporation from $184.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Deutsche Bank AG upped their price target on Cigna Corporation from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. BidaskClub upgraded Cigna Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. CIBC upped their price target on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $174.00 target price (up previously from $163.00) on shares of Cigna Corporation in a research note on Monday, June 19th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $180.44.
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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