Traders Sell Cigna Corporation (CI) on Strength After Insider Selling
Investors sold shares of Cigna Corporation (NYSE:CI) on strength during trading on Wednesday following insider selling activity. $50.98 million flowed into the stock on the tick-up and $65.51 million flowed out of the stock on the tick-down, for a money net flow of $14.53 million out of the stock. Of all equities tracked, Cigna Corporation had the 30th highest net out-flow for the day. Cigna Corporation traded up $2.45 for the day and closed at $178.08Specifically, EVP Nicole S. Jones sold 20,312 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total value of $3,250,732.48. Following the transaction, the executive vice president now directly owns 44,737 shares of the company’s stock, valued at approximately $7,159,709.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total value of $83,350.00. Following the completion of the transaction, the vice president now directly owns 2,449 shares in the company, valued at $408,248.30. The disclosure for this sale can be found here. Insiders sold a total of 257,314 shares of company stock worth $43,786,762 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
Several equities analysts recently issued reports on CI shares. ValuEngine raised Cigna Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC upped their price objective on Cigna Corporation from $178.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Deutsche Bank AG upped 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. Stifel Nicolaus upped their price objective on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research raised 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. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $180.06.
The company has a 50-day moving average price of $171.37 and a 200 day moving average price of $158.04. The company has a market cap of $45.59 billion, a P/E ratio of 23.78 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last posted its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. The company had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.26 billion. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.40%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.98 earnings per share. Equities analysts anticipate that Cigna Corporation will post $10.00 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Beacon Advisors Inc. acquired a new position in Cigna Corporation during the first quarter worth about $102,000. Baystate Wealth Management LLC increased its position in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock worth $116,000 after buying an additional 628 shares in the last quarter. Founders Capital Management acquired a new position in Cigna Corporation during the first quarter worth about $117,000. Mckinley Capital Management LLC Delaware acquired a new position in Cigna Corporation during the first quarter worth about $122,000. Finally, Parallel Advisors LLC increased its position in Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after buying an additional 307 shares in the last quarter. Institutional investors own 86.91% of the company’s stock.
About Cigna Corporation
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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