Hudson Valley Investment Advisors Inc. ADV cut its position in shares of Cigna Corp (NYSE:CI) by 18.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,654 shares of the health services provider’s stock after selling 594 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Cigna were worth $418,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CI. Cornerstone Advisors Inc. increased its position in shares of Cigna by 32.7% during the second quarter. Cornerstone Advisors Inc. now owns 1,254 shares of the health services provider’s stock worth $198,000 after buying an additional 309 shares during the period. Factory Mutual Insurance Co. acquired a new stake in shares of Cigna during the second quarter worth $15,440,000. Thoroughbred Financial Services LLC increased its position in shares of Cigna by 15,133.6% during the second quarter. Thoroughbred Financial Services LLC now owns 276,185 shares of the health services provider’s stock worth $27,618,000 after buying an additional 274,372 shares during the period. IFM Investors Pty Ltd increased its position in shares of Cigna by 7.0% during the second quarter. IFM Investors Pty Ltd now owns 26,846 shares of the health services provider’s stock worth $4,230,000 after buying an additional 1,747 shares during the period. Finally, OLD National Bancorp IN increased its position in shares of Cigna by 7.1% during the second quarter. OLD National Bancorp IN now owns 8,992 shares of the health services provider’s stock worth $1,417,000 after buying an additional 599 shares during the period. Institutional investors own 87.92% of the company’s stock.
Shares of CI opened at $159.70 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. Cigna Corp has a fifty-two week low of $141.95 and a fifty-two week high of $226.60. The firm has a 50 day moving average price of $167.64 and a 200-day moving average price of $165.91. The firm has a market cap of $63.99 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.87 and a beta of 0.70.
Cigna (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, topping the consensus estimate of $3.74 by $0.56. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The company had revenue of $34.38 billion for the quarter, compared to the consensus estimate of $33.27 billion. During the same period in the previous year, the firm earned $3.89 earnings per share. The firm’s revenue for the quarter was up 198.9% on a year-over-year basis. As a group, equities research analysts predict that Cigna Corp will post 16.59 earnings per share for the current year.
CI has been the topic of several research analyst reports. Morgan Stanley cut their target price on shares of Cigna from $241.00 to $207.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating and set a $164.00 price objective on the stock. in a research note on Tuesday, June 11th. UBS Group started coverage on shares of Cigna in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $185.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Cigna in a research note on Sunday, April 21st. Finally, Goldman Sachs Group lowered shares of Cigna from a “conviction-buy” rating to a “buy” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $214.55.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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