Piedmont Investment Advisors LLC reduced its position in shares of Cigna Corporation (NYSE:CI) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,018 shares of the health services provider’s stock after selling 901 shares during the period. Piedmont Investment Advisors LLC’s holdings in Cigna Corporation were worth $8,875,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Cigna Corporation during the second quarter worth $106,000. American Beacon Advisors Inc. purchased a new position in shares of Cigna Corporation during the first quarter worth $102,000. Parallel Advisors LLC boosted its position in shares of Cigna Corporation by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after buying an additional 307 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Cigna Corporation by 0.7% during 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 period. Finally, Acrospire Investment Management LLC boosted its position in shares of Cigna Corporation by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock worth $167,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 87.94% of the company’s stock.
In other Cigna Corporation news, VP Mary T. Hoeltzel sold 525 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $177.59, for a total value of $93,234.75. Following the completion of the transaction, the vice president now directly owns 1,924 shares of the company’s stock, valued at approximately $341,683.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Matthew G. Manders sold 24,357 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $175.01, for a total transaction of $4,262,718.57. Following the completion of the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at $8,095,262.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,653 shares of company stock valued at $12,437,684. 1.30% of the stock is currently owned by corporate insiders.
Shares of Cigna Corporation (NYSE:CI) traded up 0.350% during mid-day trading on Thursday, reaching $187.605. The company’s stock had a trading volume of 456,973 shares. The firm has a market capitalization of $47.23 billion, a PE ratio of 21.646 and a beta of 0.43. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $193.00. The firm has a 50-day moving average of $184.75 and a 200-day moving average of $169.73.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. The company had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 EPS. Equities research analysts forecast that Cigna Corporation will post $10.03 earnings per share for the current fiscal year.
CI has been the subject of several research analyst reports. ValuEngine lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Credit Suisse Group restated an “outperform” rating and set a $193.00 price target (up from $190.00) on shares of Cigna Corporation in a research report on Friday, July 14th. Piper Jaffray Companies restated a “buy” rating and set a $191.00 price target on shares of Cigna Corporation in a research report on Sunday, September 17th. CIBC raised 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. Finally, Bank of America Corporation raised their price target on Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. One 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 stock. Cigna Corporation presently has a consensus rating of “Buy” and an average 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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