Founders Capital Management LLC continued to hold its position in shares of Cigna Corporation (NYSE:CI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,268 shares of the health services provider’s stock at the end of the second quarter. Founders Capital Management LLC’s holdings in Cigna Corporation were worth $380,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in shares of Cigna Corporation during the first quarter worth about $102,000. Baystate Wealth Management LLC raised its position in shares of Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock worth $116,000 after buying an additional 628 shares during the last quarter. Founders Capital Management acquired a new position in shares of Cigna Corporation during the first quarter worth about $117,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Cigna Corporation during the first quarter worth about $122,000. Finally, Guardian Life Insurance Co. of America raised its position in shares of Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after buying an additional 7 shares during the last quarter. 87.61% of the stock is currently owned by institutional investors.
Cigna Corporation (NYSE:CI) traded up 0.39% on Wednesday, hitting $179.86. The stock had a trading volume of 942,636 shares. The firm’s 50-day moving average price is $173.09 and its 200-day moving average price is $159.93. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $180.42. The firm has a market cap of $45.28 billion, a P/E ratio of 20.75 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last posted its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 earnings per share. On average, equities research analysts predict that Cigna Corporation will post $10.03 earnings per share for the current year.
A number of equities analysts have issued reports on CI shares. UBS AG reaffirmed a “buy” rating and issued a $186.00 target price (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. ValuEngine raised Cigna Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC upped their target price on Cigna Corporation from $178.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Deutsche Bank AG boosted their price target on Cigna Corporation from $172.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Stifel Nicolaus boosted their price target on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a report on Monday, May 15th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $180.06.
In other news, VP Mary T. Hoeltzel sold 525 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total value of $93,234.75. Following the sale, the vice president now directly owns 1,924 shares in the company, valued at $341,683.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 153,168 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the sale, the chief executive officer now owns 421,162 shares in the company, valued at $71,681,772.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,227 shares of company stock worth $41,276,616. 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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