Cigna Corporation (CI) Holdings Reduced by Cetera Advisor Networks LLC
Cetera Advisor Networks LLC reduced its position in Cigna Corporation (NYSE:CI) by 12.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,221 shares of the health services provider’s stock after selling 321 shares during the period. Cetera Advisor Networks LLC’s holdings in Cigna were worth $414,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Capstone Investment Advisors Netherlands B.V. purchased a new stake in Cigna in the 2nd quarter worth approximately $106,000. Saratoga Research & Investment Management purchased a new stake in Cigna in the 3rd quarter worth approximately $112,000. Horan Capital Advisors LLC. purchased a new stake in Cigna in the 3rd quarter worth approximately $123,000. Parallel Advisors LLC grew its stake in Cigna by 62.3% in the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after acquiring an additional 307 shares during the period. Finally, Acrospire Investment Management LLC grew its stake in Cigna by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock worth $167,000 after acquiring an additional 400 shares during the period. 87.85% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Isaiah Harris, Jr. sold 212 shares of Cigna stock in a transaction on Monday, December 11th. The shares were sold at an average price of $209.35, for a total transaction of $44,382.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mary T. Hoeltzel sold 575 shares of Cigna stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $197.03, for a total transaction of $113,292.25. Following the transaction, the chief accounting officer now owns 2,499 shares in the company, valued at approximately $492,377.97. The disclosure for this sale can be found here. Insiders have sold a total of 34,936 shares of company stock worth $6,979,204 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Cigna Corporation (NYSE CI) opened at $204.14 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. The firm has a market cap of $50,219.71, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.56 and a beta of 0.50. Cigna Corporation has a 1-year low of $133.11 and a 1-year high of $212.46.
Cigna (NYSE:CI) last posted its earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.47. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. Cigna had a net margin of 5.74% and a return on equity of 18.85%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.94 EPS. research analysts forecast that Cigna Corporation will post 10.34 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on CI. Piper Jaffray Companies reissued a “buy” rating and set a $191.00 price objective on shares of Cigna in a research note on Sunday, September 17th. BidaskClub raised shares of Cigna from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price objective (up from $185.00) on shares of Cigna in a research note on Friday, November 3rd. Credit Suisse Group began coverage on shares of Cigna in a research note on Thursday, November 2nd. They set an “outperform” rating and a $219.00 price objective for the company. Finally, Jefferies Group boosted their price objective on shares of Cigna from $201.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Cigna presently has an average rating of “Buy” and an average price target of $201.50.
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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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