Legal & General Group Plc Purchases 90,299 Shares of Cigna Corporation (CI)
Legal & General Group Plc boosted its stake in shares of Cigna Corporation (NYSE:CI) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,414,896 shares of the health services provider’s stock after buying an additional 90,299 shares during the period. Legal & General Group Plc’s holdings in Cigna Corporation were worth $236,835,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. Private Trust Co. NA purchased a new position in shares of Cigna Corporation during the first quarter valued at approximately $205,000. Atria Investments LLC raised its position in shares of Cigna Corporation by 18.5% in the first quarter. Atria Investments LLC now owns 2,689 shares of the health services provider’s stock valued at $394,000 after buying an additional 419 shares during the period. Howland Capital Management LLC purchased a new position in shares of Cigna Corporation during the first quarter valued at approximately $310,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Cigna Corporation during the first quarter valued at approximately $556,000. Finally, Boys Arnold & Co. Inc. raised its position in shares of Cigna Corporation by 1.8% in the first quarter. Boys Arnold & Co. Inc. now owns 1,833 shares of the health services provider’s stock valued at $269,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 87.61% of the company’s stock.
Shares of Cigna Corporation (NYSE CI) opened at 179.86 on Thursday. The stock has a 50 day moving average price of $173.09 and a 200-day moving average price of $159.93. The company has a market capitalization of $45.28 billion, a price-to-earnings ratio of 20.75 and a beta of 0.46. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $180.42.
Cigna Corporation (NYSE:CI) last released its 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 for the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. 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 posted $1.98 earnings per share. Analysts expect that Cigna Corporation will post $10.03 earnings per share for the current fiscal year.
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Several equities analysts have recently commented on CI shares. Jefferies Group LLC reiterated a “buy” rating and set a $178.00 price objective (up from $172.00) on shares of Cigna Corporation in a research report on Sunday, April 23rd. Zacks Investment Research upgraded Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Tuesday, April 25th. Stifel Nicolaus increased their price objective on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Royal Bank Of Canada increased their price objective on Cigna Corporation from $172.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. Finally, Deutsche Bank AG increased their price objective on Cigna Corporation from $172.00 to $175.00 and gave the company 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 given a buy rating to the company’s stock. Cigna Corporation has an average rating of “Buy” and an average price target of $180.06.
In related news, EVP Lisa R. Bacus sold 11,455 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $161.57, for a total value of $1,850,784.35. Following the transaction, the executive vice president now owns 24,753 shares of the company’s stock, valued at $3,999,342.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 153,168 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the transaction, the chief executive officer now directly owns 421,162 shares in the company, valued at approximately $71,681,772.40. The disclosure for this sale can be found here. In the last three months, insiders sold 241,227 shares of company stock worth $41,276,616. 1.30% of the stock is owned by insiders.
Cigna Corporation 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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