Sanders Morris Harris LLC purchased a new position in shares of Cigna Corp (NYSE:CI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,025 shares of the health services provider’s stock, valued at approximately $386,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Victory Capital Management Inc. raised its position in shares of Cigna by 72.3% during the 4th quarter. Victory Capital Management Inc. now owns 221,773 shares of the health services provider’s stock worth $45,350,000 after purchasing an additional 93,091 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Cigna by 5.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 46,692 shares of the health services provider’s stock valued at $9,548,000 after buying an additional 2,291 shares during the period. Vestcor Investment Management Corp purchased a new stake in shares of Cigna in the 4th quarter valued at approximately $1,605,000. Advisor Group Inc. grew its stake in shares of Cigna by 2.3% in the 4th quarter. Advisor Group Inc. now owns 22,732 shares of the health services provider’s stock valued at $4,648,000 after buying an additional 508 shares during the period. Finally, Capital Analysts LLC boosted its position in shares of Cigna by 12.6% during the 4th quarter. Capital Analysts LLC now owns 1,116 shares of the health services provider’s stock worth $228,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.
In related news, CEO David Cordani sold 49,826 shares of Cigna stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $200.00, for a total transaction of $9,965,200.00. Following the sale, the chief executive officer now directly owns 84,418 shares in the company, valued at approximately $16,883,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicole S. Jones sold 10,000 shares of Cigna stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $185.00, for a total transaction of $1,850,000.00. Following the sale, the executive vice president now owns 25,871 shares in the company, valued at $4,786,135. The disclosure for this sale can be found here. Insiders have sold a total of 300,485 shares of company stock worth $62,038,903 over the last quarter. 0.90% of the stock is owned by company insiders.
Shares of CI traded down $5.88 during midday trading on Thursday, reaching $174.20. The stock had a trading volume of 368,146 shares, compared to its average volume of 1,682,935. Cigna Corp has a 1-year low of $118.50 and a 1-year high of $224.64. The company’s fifty day simple moving average is $193.79 and its two-hundred day simple moving average is $192.95. The company has a market cap of $66.45 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.89 and a beta of 0.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.67 and a quick ratio of 0.67.
Cigna (NYSE:CI) last announced its quarterly earnings data on Thursday, April 30th. The health services provider reported $4.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.35 by $0.34. Cigna had a net margin of 3.19% and a return on equity of 15.05%. The business had revenue of $38.39 billion for the quarter, compared to analyst estimates of $37.09 billion. During the same period last year, the business earned $3.90 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Cigna Corp will post 18.42 earnings per share for the current year.
A number of equities analysts recently weighed in on the stock. SVB Leerink assumed coverage on shares of Cigna in a research report on Wednesday, July 1st. They set a “market perform” rating and a $220.00 price objective for the company. Sanford C. Bernstein cut shares of Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 price objective for the company. in a research report on Monday, May 4th. ValuEngine cut shares of Cigna from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 4th. Barclays lowered their price objective on shares of Cigna from $232.00 to $229.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, Raymond James increased their price objective on shares of Cigna from $210.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $244.62.
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.
Read More: What is the G-20?
Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.