CIGNA Co. (CI) Position Increased by IFP Advisors Inc
IFP Advisors Inc increased its position in shares of CIGNA Co. (NYSE:CI) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 2,296 shares of the health services provider’s stock after buying an additional 116 shares during the period. IFP Advisors Inc’s holdings in CIGNA were worth $384,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CI. American Beacon Advisors Inc. acquired a new position in shares of CIGNA during the first quarter valued at about $102,000. Baystate Wealth Management LLC increased its position in shares of CIGNA 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 during the last quarter. Founders Capital Management acquired a new position in shares of CIGNA during the first quarter valued at about $117,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of CIGNA during the first quarter valued at about $122,000. Finally, Guardian Life Insurance Co. of America increased its position in shares of CIGNA 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 during the last quarter. 87.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CIGNA Co. (NYSE:CI) opened at 176.35 on Tuesday. CIGNA Co. has a 52 week low of $115.03 and a 52 week high of $178.57. The firm has a market cap of $44.40 billion, a PE ratio of 20.35 and a beta of 0.46. The company has a 50 day moving average of $172.41 and a 200 day moving average of $159.55.
CIGNA (NYSE:CI) last released its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.48 by $0.43. The business had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. CIGNA had a net margin of 7.85% and a return on equity of 22.67%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 earnings per share. On average, equities research analysts anticipate that CIGNA Co. will post $10.03 EPS for the current fiscal year.
Several research analysts have issued reports on CI shares. Zacks Investment Research raised shares of CIGNA from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Jefferies Group LLC reissued a “buy” rating and set a $178.00 price objective (up from $172.00) on shares of CIGNA in a research report on Sunday, April 23rd. Stifel Nicolaus raised their price objective on shares of CIGNA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Royal Bank Of Canada raised their price objective on shares of CIGNA from $172.00 to $177.00 and gave the stock an “outperform” rating in a research report on Monday, May 8th. Finally, Deutsche Bank AG raised their price objective on shares of CIGNA from $172.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $180.06.
In related news, EVP Nicole S. Jones sold 20,312 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $160.04, for a total value of $3,250,732.48. Following the completion of the transaction, the executive vice president now owns 44,737 shares in the company, valued at approximately $7,159,709.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mary T. Hoeltzel sold 525 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $177.59, for a total transaction of $93,234.75. Following the completion of the transaction, the vice president now owns 1,924 shares of the company’s stock, valued at approximately $341,683.16. The disclosure for this sale can be found here. Insiders have sold 261,539 shares of company stock valued at $44,527,348 in the last 90 days. Insiders own 1.30% of the company’s stock.
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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