Cigna Corporation (NYSE:CI) CEO David Cordani sold 153,168 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the transaction, the chief executive officer now directly owns 421,162 shares in the company, valued at approximately $71,681,772.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Cigna Corporation (NYSE CI) opened at 170.68 on Friday. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $173.21. The stock has a market cap of $43.70 billion, a PE ratio of 22.79 and a beta of 0.44. The firm’s 50-day moving average price is $163.21 and its 200 day moving average price is $150.70.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.33. Cigna Corporation had a return on equity of 16.07% and a net margin of 6.53%. The company had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $10.11 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. Cigna Corporation’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Cigna Corporation will post $9.75 EPS for the current year.
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Several institutional investors have recently made changes to their positions in CI. Piedmont Investment Advisors LLC boosted its position in shares of Cigna Corporation by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 53,919 shares of the health services provider’s stock worth $7,899,000 after buying an additional 467 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Cigna Corporation during the first quarter worth approximately $1,549,000. Bank of Nova Scotia boosted its position in shares of Cigna Corporation by 924.1% in the first quarter. Bank of Nova Scotia now owns 58,873 shares of the health services provider’s stock worth $8,624,000 after buying an additional 53,124 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in shares of Cigna Corporation during the first quarter worth approximately $102,000. Finally, Waddell & Reed Financial Inc. boosted its position in shares of Cigna Corporation by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after buying an additional 974,747 shares during the last quarter. 86.89% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $183.00 price objective on shares of Cigna Corporation in a research note on Thursday, June 8th. Zacks Investment Research downgraded Cigna Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Deutsche Bank AG raised their price objective on Cigna Corporation from $172.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Morgan Stanley assumed coverage on Cigna Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $184.00 price objective on the stock. Finally, Bank of America Corporation assumed coverage on Cigna Corporation in a research note on Monday, March 13th. They issued a “buy” rating and a $175.00 price objective on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $173.17.
Cigna Corporation Company Profile
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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