ClariVest Asset Management LLC boosted its stake in Cigna Corporation (NYSE:CI) by 2,328.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,773 shares of the health services provider’s stock after purchasing an additional 1,700 shares during the period. ClariVest Asset Management LLC’s holdings in Cigna Corporation were worth $332,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Cigna Corporation during the second quarter valued at approximately $106,000. Saratoga Research & Investment Management purchased a new position in shares of Cigna Corporation during the third quarter valued at approximately $112,000. Parallel Advisors LLC increased its stake 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 valued at $139,000 after buying an additional 307 shares during the period. Acrospire Investment Management LLC increased its stake 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 valued at $167,000 after buying an additional 400 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Cigna Corporation during the second quarter valued at approximately $211,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on CI. Morgan Stanley lifted their price target on Cigna Corporation from $195.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price target (up from $185.00) on shares of Cigna Corporation in a research report on Friday, November 3rd. Citigroup Inc. lifted their price target on Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $190.00 price target (down from $199.00) on shares of Cigna Corporation in a research report on Friday, August 4th. Finally, Zacks Investment Research lowered Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $201.50.
Cigna Corporation (NYSE:CI) last released its earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.47. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. sell-side analysts anticipate that Cigna Corporation will post 10.34 EPS for the current fiscal year.
In other news, Chairman Isaiah Harris, Jr. sold 247 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total value of $45,761.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael W. Triplett sold 10,417 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $197.77, for a total value of $2,060,170.09. Following the completion of the transaction, the insider now owns 32,347 shares of the company’s stock, valued at approximately $6,397,266.19. The disclosure for this sale can be found here. Insiders sold 12,471 shares of company stock valued at $2,449,891 in the last 90 days. Company 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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