Point72 Asset Management L.P. Trims Stake in CIGNA Co. (CI)
Point72 Asset Management L.P. lessened its holdings in shares of CIGNA Co. (NYSE:CI) by 34.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,000 shares of the health services provider’s stock after selling 60,700 shares during the quarter. Point72 Asset Management L.P.’s holdings in CIGNA were worth $19,544,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of CI. Flagship Harbor Advisors LLC acquired a new stake in CIGNA in the second quarter valued at approximately $102,000. Sun Life Financial INC raised its holdings in CIGNA by 254.3% in the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock valued at $112,000 after acquiring an additional 473 shares in the last quarter. Signaturefd LLC acquired a new stake in CIGNA in the first quarter valued at approximately $115,000. Synovus Financial Corp acquired a new stake in CIGNA in the first quarter valued at approximately $115,000. Finally, Elmwood Wealth Management Inc. acquired a new stake in CIGNA in the first quarter valued at approximately $117,000. 89.74% of the stock is currently owned by institutional investors and hedge funds.
CI stock opened at $193.21 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.38 and a current ratio of 0.38. CIGNA Co. has a twelve month low of $163.02 and a twelve month high of $227.13. The company has a market cap of $45.48 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 1.10 and a beta of 0.63.
In related news, CFO Eric P. Palmer acquired 2,828 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were bought at an average price of $177.61 per share, with a total value of $502,281.08. Following the completion of the acquisition, the chief financial officer now owns 9,678 shares in the company, valued at $1,718,909.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.
CI has been the topic of several analyst reports. ValuEngine raised shares of CIGNA from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $224.00 target price on shares of CIGNA in a report on Friday, August 3rd. SunTrust Banks raised their target price on shares of CIGNA to $244.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research cut shares of CIGNA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Goldman Sachs Group raised shares of CIGNA from a “neutral” rating to a “buy” rating and raised their target price for the company from $193.00 to $212.00 in a report on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. CIGNA has a consensus rating of “Buy” and a consensus price target of $221.77.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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