Cigna Corporation (CI) Stake Lowered by LMR Partners LLP
LMR Partners LLP reduced its stake in Cigna Corporation (NYSE:CI) by 50.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,408 shares of the health services provider’s stock after selling 4,427 shares during the quarter. LMR Partners LLP’s holdings in Cigna were worth $824,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of CI. JPMorgan Chase & Co. lifted its holdings in Cigna by 40.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after buying an additional 1,184,632 shares in the last quarter. FMR LLC lifted its holdings in Cigna by 6.7% during the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after buying an additional 432,978 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Cigna by 4,082.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 438,231 shares of the health services provider’s stock worth $73,355,000 after buying an additional 427,754 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Cigna by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock worth $2,867,514,000 after buying an additional 424,469 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Cigna by 56.9% during the 2nd quarter. American Century Companies Inc. now owns 1,140,341 shares of the health services provider’s stock worth $190,882,000 after buying an additional 413,759 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Shares of Cigna Corporation (CI) opened at $200.60 on Friday. Cigna Corporation has a 52-week low of $131.03 and a 52-week high of $206.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $49,457.93, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.53 and a beta of 0.49.
Cigna (NYSE:CI) last announced its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.47. Cigna had a net margin of 5.74% and a return on equity of 18.85%. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. During the same period in the prior year, the firm posted $1.94 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. equities research analysts anticipate that Cigna Corporation will post 10.34 earnings per share for the current year.
A number of research firms have issued reports on CI. Morgan Stanley increased their target price on shares of Cigna from $195.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 target price (up from $185.00) on shares of Cigna in a report on Friday, November 3rd. Citigroup Inc. increased their target price on shares of Cigna from $185.00 to $198.00 and gave the stock a “buy” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and set a $190.00 target price (down from $199.00) on shares of Cigna in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating in a 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 given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $201.50.
In related news, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total value of $45,761.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael W. Triplett sold 10,417 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $197.77, for a total transaction of $2,060,170.09. Following the completion of the transaction, the insider now directly owns 32,347 shares in the company, valued at $6,397,266.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,471 shares of company stock worth $2,449,891. Insiders own 1.30% of the company’s stock.
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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