Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Cigna Corporation (NYSE:CI) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,864 shares of the health services provider’s stock after buying an additional 8,762 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cigna Corporation were worth $10,188,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its position in Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock valued at $2,488,489,000 after buying an additional 16,289,943 shares during the last quarter. Vanguard Group Inc. increased its position in Cigna Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,706,266 shares of the health services provider’s stock valued at $2,447,301,000 after buying an additional 570,241 shares during the last quarter. State Street Corp increased its position in Cigna Corporation by 1.7% in the first quarter. State Street Corp now owns 11,137,018 shares of the health services provider’s stock valued at $1,631,451,000 after buying an additional 190,323 shares during the last quarter. Wellington Management Group LLP increased its position in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock valued at $1,577,075,000 after buying an additional 913,991 shares during the last quarter. Finally, Boston Partners increased its position in Cigna Corporation by 3.1% in the first quarter. Boston Partners now owns 3,604,693 shares of the health services provider’s stock valued at $528,052,000 after buying an additional 108,880 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.
Cigna Corporation (NYSE CI) traded down 0.26% during trading on Friday, reaching $179.30. 844,421 shares of the company traded hands. The company has a market capitalization of $45.14 billion, a P/E ratio of 20.69 and a beta of 0.46. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $181.15. The firm has a 50-day moving average price of $175.07 and a 200-day moving average price of $161.41.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.43. The business had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.98 EPS. Analysts forecast that Cigna Corporation will post $10.03 earnings per share for the current fiscal year.
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Several research firms have weighed in on CI. UBS AG reiterated a “buy” rating and issued a $186.00 price target (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation increased their price target on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $183.00 price target on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine downgraded shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. increased their price target on shares of Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Cigna Corporation currently has a consensus rating of “Buy” and a consensus price target of $180.44.
In other news, EVP Lisa R. Bacus sold 2,236 shares of Cigna Corporation stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total transaction of $402,368.20. Following the completion of the transaction, the executive vice president now owns 18,501 shares of the company’s stock, valued at approximately $3,329,254.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 153,168 shares of Cigna Corporation stock in a transaction on Monday, June 19th. The stock was sold at an average price of $170.20, for a total value of $26,069,193.60. Following the transaction, the chief executive officer now directly owns 421,162 shares of the company’s stock, valued at approximately $71,681,772.40. The disclosure for this sale can be found here. Insiders have sold a total of 232,008 shares of company stock valued at $39,828,200 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.
About Cigna Corporation
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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