Hallmark Capital Management Inc. increased its holdings in Cigna Corporation (NYSE:CI) by 2.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,697 shares of the health services provider’s stock after buying an additional 1,810 shares during the period. Cigna Corporation accounts for approximately 2.1% of Hallmark Capital Management Inc.’s portfolio, making the stock its 20th largest holding. Hallmark Capital Management Inc.’s holdings in Cigna Corporation were worth $16,955,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Saratoga Research & Investment Management purchased a new stake in shares of Cigna Corporation in the third quarter worth $112,000. Riverhead Capital Management LLC increased its stake in Cigna Corporation by 159.3% in the second quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after acquiring an additional 3,386 shares during the last quarter. Pacer Advisors Inc. increased its stake in Cigna Corporation by 3.0% in the second quarter. Pacer Advisors Inc. now owns 5,581 shares of the health services provider’s stock valued at $934,000 after acquiring an additional 165 shares during the last quarter. Norinchukin Bank The increased its stake in Cigna Corporation by 6.4% in the second quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock valued at $2,974,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Seven Eight Capital LP increased its stake in Cigna Corporation by 504.4% in the second quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock valued at $4,553,000 after acquiring an additional 22,700 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.
Shares of Cigna Corporation (CI) traded down 0.03% on Wednesday, hitting $197.17. The stock had a trading volume of 644,314 shares. The company has a 50 day moving average price of $188.66 and a 200-day moving average price of $174.04. Cigna Corporation has a 12 month low of $115.45 and a 12 month high of $202.50. The stock has a market cap of $49.64 billion, a PE ratio of 22.75 and a beta of 0.43.
Cigna Corporation (NYSE:CI) last posted its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share 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 firm 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 posted $1.98 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Cigna Corporation will post $10.03 earnings per share for the current year.
A number of research analysts recently commented on the company. ValuEngine cut Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Citigroup Inc. increased their target price on Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and issued a $190.00 target price (down previously from $199.00) on shares of Cigna Corporation in a research note on Friday, August 4th. Royal Bank Of Canada reissued a “buy” rating and issued a $185.00 target price on shares of Cigna Corporation in a research note on Wednesday, August 9th. Finally, Zacks Investment Research cut Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $193.44.
In other news, Chairman Isaiah Harris, Jr. sold 247 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total value of $45,761.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason D. Sadler sold 37,756 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $176.16, for a total transaction of $6,651,096.96. Following the completion of the sale, the insider now owns 47,844 shares in the company, valued at $8,428,199.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,696 shares of company stock worth $8,070,481. Insiders own 1.30% of the company’s stock.
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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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