Cigna Corp (NYSE:CI) Shares Bought by Scotia Capital Inc.
Scotia Capital Inc. boosted its holdings in shares of Cigna Corp (NYSE:CI) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,012 shares of the health services provider’s stock after buying an additional 1,205 shares during the quarter. Scotia Capital Inc.’s holdings in Cigna were worth $3,468,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Cigna by 21.6% in the 1st quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock valued at $1,966,710,000 after purchasing an additional 2,171,463 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cigna by 61.3% in the 4th quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock valued at $936,405,000 after purchasing an additional 1,876,556 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Cigna by 23.8% in the 1st quarter. Nordea Investment Management AB now owns 3,565,966 shares of the health services provider’s stock valued at $573,487,000 after purchasing an additional 686,132 shares in the last quarter. Ruffer LLP raised its holdings in shares of Cigna by 41.7% in the 1st quarter. Ruffer LLP now owns 1,839,179 shares of the health services provider’s stock valued at $295,804,000 after purchasing an additional 541,087 shares in the last quarter. Finally, Veritas Asset Management LLP raised its holdings in shares of Cigna by 10.9% in the 2nd quarter. Veritas Asset Management LLP now owns 5,105,229 shares of the health services provider’s stock valued at $804,329,000 after purchasing an additional 500,100 shares in the last quarter. Institutional investors own 87.46% of the company’s stock.
A number of equities research analysts have recently weighed in on CI shares. Citigroup restated a “buy” rating on shares of Cigna in a report on Wednesday, August 21st. Morgan Stanley reduced their price objective on shares of Cigna from $241.00 to $207.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Stephens set a $225.00 price objective on shares of Cigna and gave the company a “buy” rating in a report on Friday, August 23rd. Deutsche Bank started coverage on shares of Cigna in a report on Thursday. They issued a “buy” rating and a $207.00 price objective on the stock. Finally, Raymond James raised their price objective on shares of Cigna from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. Cigna currently has an average rating of “Buy” and a consensus target price of $214.90.
Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.56. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The firm had revenue of $34.38 billion for the quarter, compared to analyst estimates of $33.27 billion. During the same period last year, the business earned $3.89 EPS. Cigna’s revenue for the quarter was up 198.9% compared to the same quarter last year. As a group, equities research analysts expect that Cigna Corp will post 16.75 EPS for the current year.
In other Cigna news, CEO David Cordani acquired 32,509 shares of the stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $155.17 per share, with a total value of $5,044,421.53. Company insiders own 0.80% of the company’s stock.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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