Broderick Brian C reduced its stake in shares of Cigna Corporation (NYSE:CI) by 8.3% during the second quarter, Holdings Channel reports. The fund owned 4,495 shares of the health services provider’s stock after selling 405 shares during the period. Broderick Brian C’s holdings in Cigna Corporation were worth $752,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Atria Investments LLC boosted its stake in Cigna Corporation by 18.5% in the first quarter. Atria Investments LLC now owns 2,689 shares of the health services provider’s stock valued at $394,000 after buying an additional 419 shares during the last quarter. Parametrica Management Ltd bought a new stake in Cigna Corporation during the first quarter valued at $712,000. Private Trust Co. NA bought a new stake in Cigna Corporation during the first quarter valued at $205,000. Bank of Montreal Can boosted its stake in Cigna Corporation by 21.8% in the first quarter. Bank of Montreal Can now owns 267,090 shares of the health services provider’s stock valued at $39,126,000 after buying an additional 47,800 shares during the last quarter. Finally, National Pension Service boosted its stake in Cigna Corporation by 2.1% in the first quarter. National Pension Service now owns 194,155 shares of the health services provider’s stock valued at $28,657,000 after buying an additional 3,935 shares during the last quarter. Institutional investors and hedge funds own 86.85% of the company’s stock.
Cigna Corporation (NYSE CI) traded down 0.04% during mid-day trading on Monday, hitting $174.16. 139,131 shares of the stock traded hands. The firm’s 50-day moving average price is $169.00 and its 200-day moving average price is $155.71. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $175.05. The firm has a market cap of $44.59 billion, a P/E ratio of 23.25 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last issued its earnings results on Friday, May 5th. The health services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.44 by $0.33. The company had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $10.11 billion. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 EPS. On average, equities analysts forecast that Cigna Corporation will post $9.79 earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on the stock. ValuEngine cut shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Deutsche Bank AG increased their target price on shares of Cigna Corporation from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Credit Suisse Group reiterated an “outperform” rating and issued a $193.00 target price (up previously from $190.00) on shares of Cigna Corporation in a research note on Friday, July 14th. UBS AG reiterated a “buy” rating and issued a $193.00 target price (up previously from $186.00) on shares of Cigna Corporation in a research note on Thursday, June 22nd. Finally, Bank of America Corporation increased their target price on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, June 23rd. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $176.33.
In other news, EVP Lisa R. Bacus sold 11,455 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $161.57, for a total value of $1,850,784.35. Following the sale, the executive vice president now directly owns 24,753 shares of the company’s stock, valued at approximately $3,999,342.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nicole S. Jones sold 20,312 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the completion of the sale, the executive vice president now directly owns 44,737 shares in the company, valued at $7,159,709.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,601 shares of company stock valued at $32,768,462. Corporate insiders own 1.30% of the company’s stock.
Cigna Corporation Company Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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