UBS Asset Management Americas Inc. Has $95,402,000 Stake in Cigna Corp. (CI)
UBS Asset Management Americas Inc. cut its stake in Cigna Corp. (NYSE:CI) by 31.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 732,053 shares of the company’s stock after selling 340,883 shares during the period. UBS Asset Management Americas Inc. owned about 0.29% of Cigna Corp. worth $95,402,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new stake in shares of Cigna Corp. during the second quarter worth approximately $162,107,000. California State Teachers Retirement System boosted its stake in shares of Cigna Corp. by 0.4% in the second quarter. California State Teachers Retirement System now owns 549,028 shares of the company’s stock worth $70,270,000 after buying an additional 2,224 shares during the period. Boston Advisors LLC boosted 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 worth $17,824,000 after buying an additional 3,113 shares during the period. Sanders Capital LLC boosted its stake in shares of Cigna Corp. by 28.0% in the second quarter. Sanders Capital LLC now owns 4,013,588 shares of the company’s stock worth $524,645,000 after buying an additional 876,878 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted 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 worth $11,316,000 after buying an additional 75,419 shares during the period. 84.62% of the stock is currently owned by institutional investors.
Shares of Cigna Corp. (NYSE:CI) opened at 136.77 on Tuesday. The stock has a market cap of $35.11 billion, a price-to-earnings ratio of 18.59 and a beta of 0.50. The stock’s 50 day moving average is $128.01 and its 200 day moving average is $129.25. Cigna Corp. has a 52-week low of $115.03 and a 52-week high of $148.99.
Cigna Corp. (NYSE:CI) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. The business earned $9.90 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Cigna Corp. had a return on equity of 16.17% and a net margin of 4.87%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.28 EPS. On average, equities analysts predict that Cigna Corp. will post $7.98 EPS for the current fiscal year.
A number of analysts have recently commented on the stock. Jefferies Group dropped their target price on shares of Cigna Corp. from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Citigroup Inc. dropped their target price on shares of Cigna Corp. from $174.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Evercore ISI assumed coverage on shares of Cigna Corp. in a report on Thursday, September 22nd. They set a “hold” rating and a $134.00 target price on the stock. Zacks Investment Research cut shares of Cigna Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Finally, Leerink Swann restated a “buy” rating and set a $155.00 target price on shares of Cigna Corp. in a report on Monday, September 26th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $156.00.
In other Cigna Corp. news, EVP John M. Murabito sold 58,822 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $125.09, for a total value of $7,358,043.98. Following the sale, the executive vice president now owns 115,109 shares of the company’s stock, valued at approximately $14,398,984.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason D. Sadler sold 4,000 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $121.80, for a total value of $487,200.00. Following the completion of the sale, the insider now directly owns 34,019 shares in the company, valued at approximately $4,143,514.20. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
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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