Pegasus Partners Ltd. Purchases New Stake in Cigna Corporation (CI)

Pegasus Partners Ltd. purchased a new stake in shares of Cigna Corporation (NYSE:CI) during the second quarter, Holdings Channel reports. The firm purchased 18,174 shares of the health services provider’s stock, valued at approximately $3,042,000.

A number of other institutional investors also recently bought and sold shares of CI. KBC Group NV raised its position in Cigna Corporation by 20.9% in the second quarter. KBC Group NV now owns 95,962 shares of the health services provider’s stock valued at $16,063,000 after buying an additional 16,573 shares during the last quarter. Legal & General Group Plc raised its position in Cigna Corporation by 6.8% in the second quarter. Legal & General Group Plc now owns 1,414,896 shares of the health services provider’s stock valued at $236,835,000 after buying an additional 90,299 shares during the last quarter. Alps Advisors Inc. raised its position in Cigna Corporation by 21.2% in the second quarter. Alps Advisors Inc. now owns 5,465 shares of the health services provider’s stock valued at $915,000 after buying an additional 955 shares during the last quarter. State of Wisconsin Investment Board raised its position in Cigna Corporation by 18.7% in the second quarter. State of Wisconsin Investment Board now owns 326,617 shares of the health services provider’s stock valued at $54,672,000 after buying an additional 51,490 shares during the last quarter. Finally, LMR Partners LLP bought a new position in Cigna Corporation during the second quarter valued at $1,479,000. Institutional investors own 87.61% of the company’s stock.

Shares of Cigna Corporation (NYSE CI) opened at 178.03 on Friday. The stock has a market capitalization of $44.82 billion, a P/E ratio of 20.54 and a beta of 0.46. The stock has a 50 day moving average of $173.37 and a 200-day moving average of $160.06. Cigna Corporation has a one year low of $115.03 and a one year high of $181.00.

Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.43. The company 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 firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. Equities analysts forecast that Cigna Corporation will post $10.03 earnings per share for the current year.

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Several research firms recently weighed in on CI. Morgan Stanley increased their price target on shares of Cigna Corporation from $188.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank Of Canada reiterated a “buy” rating and set a $185.00 target price on shares of Cigna Corporation in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Citigroup Inc. increased their target price 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. Finally, Deutsche Bank AG increased their target price on shares of Cigna Corporation from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $180.44.

In other Cigna Corporation news, CEO David Cordani sold 153,168 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 421,162 shares in the company, valued at approximately $71,681,772.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa R. Bacus sold 2,236 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total value 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 $3,329,254.95. The disclosure for this sale can be found here. Insiders sold a total of 243,463 shares of company stock valued at $41,678,984 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

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