State of Michigan Retirement System boosted its position in Cigna Corp (NYSE:CI) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,274 shares of the health services provider’s stock after acquiring an additional 8,704 shares during the period. State of Michigan Retirement System’s holdings in Cigna were worth $17,691,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Viking Global Investors LP raised its stake in Cigna by 457.3% during the first quarter. Viking Global Investors LP now owns 2,547,958 shares of the health services provider’s stock valued at $451,447,000 after purchasing an additional 2,090,750 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Cigna by 18.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,624,555 shares of the health services provider’s stock valued at $2,236,818,000 after purchasing an additional 1,926,123 shares in the last quarter. Veritas Asset Management LLP raised its stake in Cigna by 40.0% during the first quarter. Veritas Asset Management LLP now owns 4,214,429 shares of the health services provider’s stock valued at $746,713,000 after purchasing an additional 1,204,900 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Cigna during the second quarter valued at $141,512,000. Finally, Crake Asset Management LLP raised its stake in Cigna by 1,063.5% during the first quarter. Crake Asset Management LLP now owns 485,753 shares of the health services provider’s stock valued at $86,066,000 after purchasing an additional 444,003 shares in the last quarter. 88.53% of the stock is currently owned by institutional investors and hedge funds.

CI has been the topic of a number of recent research reports. BMO Capital Markets upped their price target on shares of Cigna from $215.00 to $242.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. ValuEngine cut shares of Cigna from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 4th. Raymond James boosted their price objective on shares of Cigna from $210.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Monday, May 4th. UBS Group cut their price objective on shares of Cigna from $252.00 to $246.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Finally, SunTrust Banks cut their price objective on shares of Cigna from $280.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Cigna currently has an average rating of “Buy” and a consensus price target of $244.00.

In other Cigna news, Director John Partridge sold 2,700 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $180.04, for a total transaction of $486,108.00. Following the completion of the sale, the director now directly owns 27,216 shares of the company’s stock, valued at $4,899,968.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William L. Roper sold 2,819 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $192.07, for a total transaction of $541,445.33. Following the sale, the director now directly owns 10,442 shares of the company’s stock, valued at $2,005,594.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,802 shares of company stock worth $48,470,825. 0.90% of the stock is owned by company insiders.

Cigna stock traded down $5.78 during midday trading on Friday, hitting $172.69. 2,452,731 shares of the company’s stock were exchanged, compared to its average volume of 1,887,986. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.67 and a current ratio of 0.74. Cigna Corp has a 12 month low of $118.50 and a 12 month high of $224.64. The firm has a 50-day moving average of $184.19 and a two-hundred day moving average of $189.90. The company has a market cap of $63.72 billion, a PE ratio of 12.29, a P/E/G ratio of 0.87 and a beta of 0.70.

Cigna (NYSE:CI) last issued its earnings results on Thursday, July 30th. The health services provider reported $5.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.15 by $0.66. Cigna had a net margin of 3.41% and a return on equity of 15.89%. The company had revenue of $39.27 billion for the quarter, compared to analysts’ expectations of $37.93 billion. During the same period in the prior year, the business earned $4.30 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities analysts expect that Cigna Corp will post 18.4 earnings per share for the current year.

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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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