Canada Pension Plan Investment Board Purchases 156,400 Shares of Cigna Corporation (CI)
Canada Pension Plan Investment Board boosted its stake in Cigna Corporation (NYSE:CI) by 42.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 527,570 shares of the health services provider’s stock after buying an additional 156,400 shares during the period. Canada Pension Plan Investment Board’s holdings in Cigna Corporation were worth $88,310,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CI. American Beacon Advisors Inc. purchased a new position in Cigna Corporation during the first quarter valued at $102,000. Baystate Wealth Management LLC boosted its position in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock valued at $116,000 after buying an additional 628 shares in the last quarter. Founders Capital Management purchased a new position in Cigna Corporation during the first quarter valued at $117,000. Mckinley Capital Management LLC Delaware purchased a new position in Cigna Corporation during the first quarter valued at $122,000. Finally, Guardian Life Insurance Co. of America boosted its position in Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock valued at $145,000 after buying an additional 7 shares in the last quarter. 86.91% of the stock is owned by institutional investors.
Shares of Cigna Corporation (CI) opened at 178.08 on Thursday. Cigna Corporation has a one year low of $115.03 and a one year high of $178.50. The firm has a 50 day moving average price of $171.96 and a 200-day moving average price of $158.84. The firm has a market cap of $45.59 billion, a P/E ratio of 23.78 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. The firm had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.40%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 EPS. Analysts forecast that Cigna Corporation will post $10.00 earnings per share for the current year.
Several research firms have recently weighed in on CI. UBS AG reaffirmed a “buy” rating and set a $186.00 price objective (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Deutsche Bank AG upped their target price on Cigna Corporation from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada reiterated a “buy” rating and set a $185.00 target price on shares of Cigna Corporation in a report on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and set a $175.00 target price on shares of Cigna Corporation in a report on Friday, July 28th. Finally, BidaskClub lowered Cigna Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Cigna Corporation currently has an average rating of “Buy” and an average price target of $180.06.
In related news, insider Jason D. Sadler sold 37,756 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $176.16, for a total value of $6,651,096.96. Following the completion of the transaction, the insider now directly owns 47,844 shares in the company, valued at $8,428,199.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane E. Md Henney sold 600 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $174.14, for a total transaction of $104,484.00. The disclosure for this sale can be found here. Insiders have sold a total of 257,314 shares of company stock valued at $43,786,762 over the last 90 days. Company insiders own 1.30% of the company’s stock.
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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