TRUE Private Wealth Advisors bought a new position in shares of Cigna Corp (NYSE:CI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 257 shares of the health services provider’s stock, valued at approximately $40,000.
Other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC grew its stake in Cigna by 13.9% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,089 shares of the health services provider’s stock worth $171,000 after buying an additional 133 shares during the last quarter. Boenning & Scattergood Inc. grew its stake in Cigna by 33.9% during the 2nd quarter. Boenning & Scattergood Inc. now owns 2,370 shares of the health services provider’s stock valued at $373,000 after purchasing an additional 600 shares during the last quarter. Sigma Planning Corp grew its stake in Cigna by 17.8% during the 1st quarter. Sigma Planning Corp now owns 1,427 shares of the health services provider’s stock valued at $230,000 after purchasing an additional 216 shares during the last quarter. Baldwin Brothers Inc. MA purchased a new stake in Cigna during the 1st quarter valued at about $50,000. Finally, Wesbanco Bank Inc. grew its stake in Cigna by 121.8% during the 1st quarter. Wesbanco Bank Inc. now owns 25,067 shares of the health services provider’s stock valued at $4,031,000 after purchasing an additional 13,766 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.
Several analysts have weighed in on the company. ValuEngine downgraded Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reiterated a “buy” rating and set a $245.00 price target on shares of Cigna in a research note on Sunday, April 21st. Raymond James boosted their price target on Cigna from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Sanford C. Bernstein upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research note on Tuesday, August 6th. Finally, UBS Group assumed coverage on Cigna in a research note on Tuesday, April 23rd. They set a “buy” rating and a $185.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $214.55.
Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.56. The business had revenue of $34.38 billion during the quarter, compared to analysts’ expectations of $33.27 billion. Cigna had a return on equity of 13.24% and a net margin of 3.60%. The company’s revenue for the quarter was up 198.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.89 EPS. Equities research analysts expect that Cigna Corp will post 16.75 EPS for the current year.
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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