Bank of Nova Scotia lifted its stake in Cigna Corporation (NYSE:CI) by 168.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,855 shares of the health services provider’s stock after purchasing an additional 98,982 shares during the quarter. Bank of Nova Scotia owned 0.06% of Cigna Corporation worth $26,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new position in shares of Cigna Corporation in the 1st quarter worth about $102,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Cigna Corporation in the 2nd quarter worth about $106,000. Parallel Advisors LLC raised its position in shares of Cigna Corporation by 62.3% in the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after purchasing an additional 307 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Cigna Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after purchasing an additional 7 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its position in shares of Cigna Corporation by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock worth $167,000 after purchasing an additional 400 shares during the last quarter. 87.94% of the stock is owned by hedge funds and other institutional investors.
Cigna Corporation (CI) traded down 0.53% during midday trading on Wednesday, hitting $187.08. 334,737 shares of the stock traded hands. The company has a 50-day moving average of $184.54 and a 200-day moving average of $169.60. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $193.00. The stock has a market cap of $47.10 billion, a PE ratio of 21.58 and a beta of 0.43.
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, topping the consensus estimate of $2.48 by $0.43. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The firm had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna Corporation will post $10.03 earnings per share for the current year.
In related news, Chairman Isaiah Harris, Jr. sold 247 shares of Cigna Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total transaction of $45,761.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane E. Md Henney sold 600 shares of Cigna Corporation stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $174.14, for a total value of $104,484.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,653 shares of company stock valued at $12,437,684. Company insiders own 1.30% of the company’s stock.
Several equities analysts have recently issued reports on CI shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $177.00 price target on shares of Cigna Corporation in a research report on Tuesday, June 13th. Oppenheimer Holdings, Inc. lifted their price target on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, June 15th. CIBC lifted their price target on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, June 15th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $174.00 price target (up previously from $163.00) on shares of Cigna Corporation in a research report on Monday, June 19th. Finally, UBS AG reaffirmed a “buy” rating and issued a $193.00 price target (up previously from $186.00) on shares of Cigna Corporation in a research report on Thursday, June 22nd. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $190.27.
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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