Exane Asset Management purchased a new stake in shares of CIGNA Co. (NYSE:CI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 982 shares of the health services provider’s stock, valued at approximately $167,000.
Other large investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of CIGNA during the second quarter valued at approximately $102,000. Sun Life Financial INC grew its holdings in shares of CIGNA by 254.3% during the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock valued at $112,000 after buying an additional 473 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of CIGNA by 3,122.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock valued at $120,000 after buying an additional 687 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of CIGNA by 98.7% during the second quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock valued at $133,000 after buying an additional 390 shares during the last quarter. Finally, Adviser Investments LLC grew its holdings in shares of CIGNA by 5,077.8% during the second quarter. Adviser Investments LLC now owns 932 shares of the health services provider’s stock valued at $158,000 after buying an additional 914 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.
A number of research firms have recently commented on CI. Zacks Investment Research cut shares of CIGNA from a “strong-buy” rating to a “hold” rating in a report on Tuesday. SunTrust Banks increased their price target on shares of CIGNA and gave the company a “buy” rating in a report on Thursday, September 27th. Cantor Fitzgerald assumed coverage on shares of CIGNA in a report on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 target price on the stock. Leerink Swann raised their target price on shares of CIGNA from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, September 21st. Finally, ValuEngine upgraded shares of CIGNA from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $229.73.
CI stock traded up $1.09 on Friday, hitting $207.09. The company had a trading volume of 2,600,475 shares, compared to its average volume of 2,350,325. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35. CIGNA Co. has a 12-month low of $163.02 and a 12-month high of $227.13. The stock has a market capitalization of $50.68 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.23 and a beta of 0.64.
CIGNA (NYSE:CI) last released its quarterly earnings results on Thursday, August 2nd. The health services provider reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.56. CIGNA had a net margin of 5.82% and a return on equity of 22.27%. The business had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.20 billion. During the same period last year, the firm earned $2.91 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities analysts predict that CIGNA Co. will post 13.87 earnings per share for the current year.
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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