M&R Capital Management Inc. cut its holdings in Cigna Corp (NYSE:CI) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,201 shares of the health services provider’s stock after selling 97 shares during the quarter. M&R Capital Management Inc.’s holdings in Cigna were worth $542,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Nordea Investment Management AB lifted its stake in shares of Cigna by 91.4% during the second quarter. Nordea Investment Management AB now owns 9,479,168 shares of the health services provider’s stock worth $1,753,456,000 after purchasing an additional 4,526,567 shares in the last quarter. Viking Global Investors LP boosted its holdings in shares of 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 acquiring an additional 2,090,750 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 acquiring an additional 1,926,123 shares during the period. FMR LLC boosted its holdings in shares of Cigna by 8.9% during the second quarter. FMR LLC now owns 21,733,809 shares of the health services provider’s stock valued at $4,078,349,000 after acquiring an additional 1,769,394 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Cigna during the second quarter valued at $141,512,000. Institutional investors own 88.47% of the company’s stock.
Several equities analysts have recently issued reports on CI shares. Royal Bank of Canada boosted their price target on shares of Cigna from $266.00 to $270.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. BMO Capital Markets lifted their price objective 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. Goldman Sachs Group lifted their price objective on shares of Cigna from $244.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, June 5th. 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 note on Friday, June 5th. Finally, ValuEngine cut shares of Cigna from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Cigna currently has an average rating of “Buy” and an average price target of $243.70.
Cigna (NYSE:CI) last posted its quarterly earnings data 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. The firm had revenue of $39.27 billion for the quarter, compared to the consensus estimate of $37.93 billion. Cigna had a return on equity of 15.89% and a net margin of 3.41%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.30 EPS. As a group, equities analysts expect that Cigna Corp will post 18.51 EPS for the current year.
In related news, CFO Eric P. Palmer bought 1,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was bought at an average price of $168.77 per share, for a total transaction of $168,770.00. Following the transaction, the chief financial officer now directly owns 26,555 shares in the company, valued at $4,481,687.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicole S. Jones sold 9,424 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $185.00, for a total transaction of $1,743,440.00. Following the completion of the sale, the executive vice president now owns 35,409 shares of the company’s stock, valued at approximately $6,550,665. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
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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