Flagship Harbor Advisors LLC lowered its stake in shares of Cigna Corp (NYSE:CI) by 22.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 731 shares of the health services provider’s stock after selling 216 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Cigna were worth $124,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CI. State of Alaska Department of Revenue grew its holdings in shares of Cigna by 2.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 67,717 shares of the health services provider’s stock worth $12,707,000 after purchasing an additional 1,425 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of Cigna by 2.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 376,481 shares of the health services provider’s stock worth $70,333,000 after purchasing an additional 8,264 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Cigna by 43.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 72,075 shares of the health services provider’s stock worth $13,525,000 after purchasing an additional 21,727 shares during the period. Dubuque Bank & Trust grew its holdings in shares of Cigna by 49.8% during the 2nd quarter. Dubuque Bank & Trust now owns 1,811 shares of the health services provider’s stock worth $339,000 after purchasing an additional 602 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in shares of Cigna during the 2nd quarter worth about $3,855,000. 88.47% of the stock is owned by institutional investors.
In related news, CFO Eric P. Palmer bought 1,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were purchased at an average cost of $168.77 per share, with a total value of $168,770.00. Following the completion of the transaction, the chief financial officer now directly owns 26,555 shares of the company’s stock, valued at $4,481,687.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicole S. Jones sold 9,424 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $185.00, for a total value of $1,743,440.00. Following the completion of the sale, the executive vice president now directly owns 35,409 shares in the company, valued at $6,550,665. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
CI stock opened at $177.90 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.67. The firm has a market cap of $65.33 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.86 and a beta of 0.67. Cigna Corp has a 12-month low of $118.50 and a 12-month high of $224.64. The stock’s 50 day simple moving average is $171.72 and its 200 day simple moving average is $182.00.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, July 30th. The health services provider reported $5.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.15 by $0.66. The business had revenue of $39.27 billion for the quarter, compared to analyst estimates of $37.93 billion. Cigna had a return on equity of 15.89% and a net margin of 3.41%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.30 EPS. On average, research analysts forecast that Cigna Corp will post 18.51 EPS for the current fiscal year.
CI has been the subject of a number of analyst reports. SVB Leerink decreased their price target on Cigna from $220.00 to $207.00 and set a “market perform” rating for the company in a report on Friday, July 31st. Royal Bank of Canada upped their price target on Cigna from $266.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $243.70.
About Cigna
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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