Parametric Portfolio Associates LLC lifted its holdings in Cigna Corporation (NYSE:CI) by 8.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 729,690 shares of the health services provider’s stock after acquiring an additional 55,395 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.30% of Cigna worth $136,408,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Saratoga Research & Investment Management acquired a new position in shares of Cigna in the third quarter valued at about $112,000. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of Cigna in the second quarter valued at about $106,000. Horan Capital Advisors LLC. acquired a new position in shares of Cigna in the third quarter valued at about $123,000. Parallel Advisors LLC grew its stake in shares of Cigna by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after acquiring an additional 307 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Cigna by 171.9% in the third quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after acquiring an additional 617 shares in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
In other news, EVP Alan Muney sold 15,345 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $200.80, for a total value of $3,081,276.00. Following the completion of the transaction, the executive vice president now owns 28,457 shares of the company’s stock, valued at $5,714,165.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Isaiah Harris, Jr. sold 212 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $209.35, for a total value of $44,382.20. The disclosure for this sale can be found here. Insiders sold 34,936 shares of company stock valued at $6,979,204 in the last three months. Company insiders own 1.30% of the company’s stock.
Cigna (NYSE:CI) last posted its earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.47. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.17 billion. Cigna had a net margin of 5.74% and a return on equity of 18.85%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 earnings per share. equities research analysts forecast that Cigna Corporation will post 10.34 EPS for the current fiscal year.
Several research firms recently weighed in on CI. Citigroup upped their price objective on shares of Cigna from $198.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Morgan Stanley upped their price objective on shares of Cigna from $195.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Jefferies Group upped their price objective on shares of Cigna from $221.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $185.00) on shares of Cigna in a research report on Friday, November 3rd. Finally, Zacks Investment Research cut shares of Cigna from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Cigna currently has an average rating of “Buy” and a consensus price target of $201.50.
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Cigna 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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