Cigna Corp. (CI) Shares Bought by Sanders Capital LLC
Sanders Capital LLC raised its stake in Cigna Corp. (NYSE:CI) by 28.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,013,588 shares of the company’s stock after buying an additional 876,878 shares during the period. Cigna Corp. accounts for 4.3% of Sanders Capital LLC’s portfolio, making the stock its 9th largest position. Sanders Capital LLC owned approximately 1.56% of Cigna Corp. worth $524,645,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. AMP Capital Investors Ltd raised its stake in shares of Cigna Corp. by 1.3% in the first quarter. AMP Capital Investors Ltd now owns 207,983 shares of the company’s stock valued at $28,589,000 after buying an additional 2,769 shares in the last quarter. Magnetar Financial LLC raised its stake in shares of Cigna Corp. by 130.0% in the first quarter. Magnetar Financial LLC now owns 958,393 shares of the company’s stock valued at $131,530,000 after buying an additional 541,775 shares in the last quarter. Boston Advisors LLC raised its stake in shares of Cigna Corp. by 2.3% in the second quarter. Boston Advisors LLC now owns 139,258 shares of the company’s stock valued at $17,824,000 after buying an additional 3,113 shares in the last quarter. York Capital Management Global Advisors LLC purchased a new stake in shares of Cigna Corp. during the first quarter valued at about $49,327,000. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Cigna Corp. by 580.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 88,413 shares of the company’s stock valued at $11,316,000 after buying an additional 75,419 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.
Cigna Corp. (NYSE:CI) traded up 0.26% during midday trading on Friday, reaching $127.23. The company’s stock had a trading volume of 670,218 shares. Cigna Corp. has a 52 week low of $121.87 and a 52 week high of $148.99. The firm has a 50 day moving average price of $129.68 and a 200-day moving average price of $131.57. The firm has a market cap of $32.64 billion, a P/E ratio of 16.50 and a beta of 0.43.
Cigna Corp. (NYSE:CI) last issued its earnings results on Friday, July 29th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.41. The firm earned $9.89 billion during the quarter, compared to the consensus estimate of $9.98 billion. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 earnings per share. On average, analysts forecast that Cigna Corp. will post $7.99 earnings per share for the current fiscal year.
Several equities analysts have weighed in on CI shares. Jefferies Group restated a “buy” rating on shares of Cigna Corp. in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Cigna Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday. Leerink Swann reiterated a “buy” rating and issued a $155.00 price objective on shares of Cigna Corp. in a research note on Monday, September 26th. William Blair reiterated a “buy” rating on shares of Cigna Corp. in a research note on Wednesday, August 31st. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $160.00 price objective on shares of Cigna Corp. in a research note on Thursday, September 8th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cigna Corp. currently has an average rating of “Buy” and an average price target of $157.65.
In other news, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $132.28, for a total value of $66,140.00. Following the sale, the vice president now directly owns 4,017 shares of the company’s stock, valued at approximately $531,368.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.
About Cigna Corp.
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, Other Operations and Corporate.
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