Shelter Mutual Insurance Co Reduces Stake in Cigna Corp (NYSE:CI)

Shelter Mutual Insurance Co reduced its position in Cigna Corp (NYSE:CI) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,036 shares of the health services provider’s stock after selling 1,100 shares during the period. Shelter Mutual Insurance Co’s holdings in Cigna were worth $1,739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Truvestments Capital LLC purchased a new position in Cigna during the first quarter worth $37,000. C J Advisory Inc purchased a new position in Cigna during the first quarter worth $40,000. TRUE Private Wealth Advisors purchased a new position in Cigna during the second quarter worth $40,000. Trustcore Financial Services LLC purchased a new position in Cigna during the first quarter worth $49,000. Finally, Baldwin Brothers Inc. MA purchased a new stake in shares of Cigna in the first quarter valued at $50,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on CI. Morgan Stanley lowered their price objective on Cigna from $241.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Raymond James lifted their price objective on Cigna from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Citigroup lowered their price objective on Cigna from $228.00 to $203.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. Goldman Sachs Group downgraded Cigna from a “conviction-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Cigna in a research report on Sunday, April 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $214.55.

Cigna stock traded down $1.12 during midday trading on Thursday, reaching $159.07. The stock had a trading volume of 710,723 shares, compared to its average volume of 1,899,646. Cigna Corp has a twelve month low of $141.95 and a twelve month high of $226.60. The stock has a market capitalization of $62.55 billion, a PE ratio of 11.19, a PEG ratio of 0.85 and a beta of 0.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50-day moving average price of $167.61.

Cigna (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.56. Cigna had a return on equity of 13.24% and a net margin of 3.60%. The firm had revenue of $34.38 billion for the quarter, compared to analysts’ expectations of $33.27 billion. During the same quarter last year, the firm earned $3.89 earnings per share. The firm’s revenue for the quarter was up 198.9% compared to the same quarter last year. Analysts predict that Cigna Corp will post 16.59 EPS for the current year.

About Cigna

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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