Schroder Investment Management Group Increases Stake in Cigna Corporation (CI)

Schroder Investment Management Group grew its holdings in Cigna Corporation (NYSE:CI) by 1,794.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 187,770 shares of the health services provider’s stock after buying an additional 177,858 shares during the period. Schroder Investment Management Group owned 0.07% of Cigna Corporation worth $31,301,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Guardian Life Insurance Co. of America raised its holdings 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 valued at $145,000 after buying an additional 7 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in shares of Cigna Corporation in the second quarter valued at about $670,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Cigna Corporation by 10.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 840,939 shares of the health services provider’s stock valued at $123,190,000 after buying an additional 78,394 shares during the last quarter. Pennant Capital Management LLC purchased a new stake in shares of Cigna Corporation in the first quarter valued at about $47,243,000. Finally, IBM Retirement Fund raised its holdings in shares of Cigna Corporation by 114.4% in the second quarter. IBM Retirement Fund now owns 6,073 shares of the health services provider’s stock valued at $1,136,000 after buying an additional 3,241 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Lisa R. Bacus sold 2,236 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $179.95, for a total value of $402,368.20. Following the sale, the executive vice president now directly owns 18,501 shares in the company, valued at approximately $3,329,254.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mary T. Hoeltzel sold 525 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total transaction of $93,234.75. Following the completion of the sale, the vice president now owns 1,924 shares in the company, valued at $341,683.16. The disclosure for this sale can be found here. Insiders sold a total of 223,781 shares of company stock worth $38,470,603 over the last quarter. Insiders own 1.30% of the company’s stock.

Cigna Corporation (CI) opened at 186.32 on Tuesday. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $186.32. The firm’s 50-day moving average is $177.83 and its 200 day moving average is $164.09. The firm has a market capitalization of $46.91 billion, a price-to-earnings ratio of 21.50 and a beta of 0.43.

Cigna Corporation (NYSE:CI) last released its earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The business had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts predict that Cigna Corporation will post $10.02 earnings per share for the current year.

A number of equities research analysts have recently commented on the stock. UBS AG reaffirmed a “buy” rating and issued a $186.00 target price (up from $181.00) on shares of Cigna Corporation in a report on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $183.00 target price on shares of Cigna Corporation in a report on Thursday, June 8th. Deutsche Bank AG upped their target price on shares of Cigna Corporation from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Royal Bank Of Canada reissued a “buy” rating and set a $177.00 price target on shares of Cigna Corporation in a report on Tuesday, June 13th. Finally, 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 report on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cigna Corporation currently has an average rating of “Buy” and a consensus price target of $181.65.

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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.

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

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