Nichols & Pratt Advisers LLP MA Has $1,364,000 Position in Cigna Corporation (CI)
Nichols & Pratt Advisers LLP MA maintained its stake in Cigna Corporation (NYSE:CI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,150 shares of the health services provider’s stock at the end of the second quarter. Nichols & Pratt Advisers LLP MA’s holdings in Cigna Corporation were worth $1,364,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its stake 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 worth $145,000 after buying an additional 7 shares during the last quarter. Asset Advisors Corp increased its stake in Cigna Corporation by 7.3% in the first quarter. Asset Advisors Corp now owns 29,845 shares of the health services provider’s stock worth $4,372,000 after buying an additional 2,025 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in Cigna Corporation during the second quarter worth approximately $670,000. Wetherby Asset Management Inc. increased its stake in Cigna Corporation by 3.5% in the first quarter. Wetherby Asset Management Inc. now owns 4,159 shares of the health services provider’s stock worth $609,000 after buying an additional 140 shares during the last quarter. Finally, Pennant Capital Management LLC purchased a new stake in Cigna Corporation during the first quarter worth approximately $47,243,000. Institutional investors and hedge funds own 87.95% of the company’s stock.
Cigna Corporation (NYSE:CI) traded up 0.67% during trading on Monday, reaching $180.50. 184,537 shares of the company’s stock were exchanged. The company’s 50-day moving average is $175.07 and its 200-day moving average is $161.41. The company has a market capitalization of $45.45 billion, a PE ratio of 20.83 and a beta of 0.46. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $181.15.
Cigna Corporation (NYSE:CI) last announced 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 analysts’ expectations of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.98 earnings per share. Equities research analysts expect that Cigna Corporation will post $10.03 earnings per share for the current fiscal year.
A number of analysts have recently commented on CI shares. Credit Suisse Group started coverage on Cigna Corporation in a report on Monday, June 12th. They set an “outperform” rating and a $185.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and set a $183.00 price objective (up from $178.00) on shares of Cigna Corporation in a report on Friday, May 5th. Stifel Nicolaus upped their price objective on Cigna Corporation from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Oppenheimer Holdings, Inc. upped their price objective on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. Finally, Morgan Stanley started coverage on Cigna Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $184.00 price objective for the company. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $180.44.
In other news, EVP Lisa R. Bacus sold 2,236 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $179.95, for a total value of $402,368.20. Following the transaction, the executive vice president now directly owns 18,501 shares of the company’s stock, valued at $3,329,254.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 153,168 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction 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 $71,681,772.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,008 shares of company stock valued at $39,828,200. Corporate insiders own 1.30% of the company’s stock.
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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