Eagle Asset Management Inc. Reduces Stake in Cigna Corp. (CI)
Eagle Asset Management Inc. lowered its position in Cigna Corp. (NYSE:CI) by 16.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,815 shares of the company’s stock after selling 23,583 shares during the period. Eagle Asset Management Inc.’s holdings in Cigna Corp. were worth $15,483,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Legacy Private Trust Co. raised its position in shares of Cigna Corp. by 25.8% in the second quarter. Legacy Private Trust Co. now owns 7,405 shares of the company’s stock worth $948,000 after buying an additional 1,520 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Cigna Corp. by 62.3% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 69,195 shares of the company’s stock valued at $8,856,000 after buying an additional 26,561 shares during the period. Capstone Asset Management Co. increased its stake in shares of Cigna Corp. by 5.4% in the second quarter. Capstone Asset Management Co. now owns 29,942 shares of the company’s stock valued at $3,832,000 after buying an additional 1,540 shares during the period. NN Investment Partners Holdings N.V. increased its stake in shares of Cigna Corp. by 6.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 23,271 shares of the company’s stock valued at $2,978,000 after buying an additional 1,500 shares during the period. Finally, Factory Mutual Insurance Co. increased its stake in shares of Cigna Corp. by 14.3% in the second quarter. Factory Mutual Insurance Co. now owns 200,000 shares of the company’s stock valued at $25,598,000 after buying an additional 25,000 shares during the period. 84.62% of the stock is currently owned by institutional investors.
Shares of Cigna Corp. (NYSE:CI) traded down 2.21% during mid-day trading on Wednesday, reaching $135.25. The company had a trading volume of 586,563 shares. The firm has a 50 day moving average of $128.01 and a 200-day moving average of $129.25. Cigna Corp. has a one year low of $115.03 and a one year high of $148.99. The stock has a market capitalization of $34.72 billion, a P/E ratio of 18.38 and a beta of 0.50.
Cigna Corp. (NYSE:CI) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 earnings per share. Analysts forecast that Cigna Corp. will post $7.98 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on CI shares. Citigroup Inc. decreased their price target on Cigna Corp. from $174.00 to $146.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating on shares of Cigna Corp. in a report on Tuesday, August 23rd. William Blair reiterated a “buy” rating on shares of Cigna Corp. in a report on Wednesday, August 31st. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $160.00 price target on shares of Cigna Corp. in a report on Thursday, September 8th. Finally, Evercore ISI started coverage on Cigna Corp. in a report on Thursday, September 22nd. They set a “hold” rating and a $134.00 price target for the company. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $156.00.
In other news, insider Jason D. Sadler sold 4,000 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $121.80, for a total value of $487,200.00. Following the completion of the transaction, the insider now owns 34,019 shares in the company, valued at $4,143,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John M. Murabito sold 58,822 shares of Cigna Corp. stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 115,109 shares of the company’s stock, valued at approximately $14,398,984.81. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Cigna Corp. 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, Other Operations and Corporate.
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