Cigna Corporation (CI) Position Cut by Verition Fund Management LLC

Verition Fund Management LLC lessened its holdings in shares of Cigna Corporation (NYSE:CI) by 48.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,539 shares of the health services provider’s stock after selling 8,925 shares during the quarter. Verition Fund Management LLC’s holdings in Cigna Corporation were worth $1,597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Cigna Corporation by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock valued at $2,867,514,000 after purchasing an additional 424,469 shares during the period. BlackRock Inc. increased its stake in Cigna Corporation by 2,335.5% in the 1st quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after acquiring an additional 16,289,943 shares during the last quarter. State Street Corp increased its stake in Cigna Corporation by 1.7% in the 1st quarter. State Street Corp now owns 11,137,018 shares of the health services provider’s stock worth $1,631,451,000 after acquiring an additional 190,323 shares during the last quarter. Wellington Management Group LLP increased its stake in Cigna Corporation by 9.3% in the 1st quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after acquiring an additional 913,991 shares during the last quarter. Finally, FMR LLC increased its stake in Cigna Corporation by 6.7% in the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after acquiring an additional 432,978 shares during the last quarter. 87.94% of the stock is currently owned by institutional investors.

A number of analysts have issued reports on CI shares. ValuEngine downgraded Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $193.00 price objective (up previously from $190.00) on shares of Cigna Corporation in a research note on Friday, July 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $191.00 price objective on shares of Cigna Corporation in a research note on Sunday, September 17th. CIBC lifted their price objective on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Finally, Bank of America Corporation lifted their price objective on Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $190.27.

In related news, Director William D. Zollars sold 1,232 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total value of $230,667.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew G. Manders sold 24,357 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $175.01, for a total value of $4,262,718.57. Following the completion of the sale, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $8,095,262.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,653 shares of company stock valued at $12,437,684. Insiders own 1.30% of the company’s stock.

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Shares of Cigna Corporation (NYSE CI) traded down 0.81% during trading on Friday, hitting $185.44. The stock had a trading volume of 935,567 shares. The firm’s 50-day moving average is $184.96 and its 200 day moving average is $169.85. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $193.00. The firm has a market cap of $46.69 billion, a price-to-earnings ratio of 21.40 and a beta of 0.43.

Cigna Corporation (NYSE:CI) last posted its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating 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 quarter last year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts expect that Cigna Corporation will post $10.03 EPS for the current year.

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.

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

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