Cigna Corporation (CI) Stake Boosted by PEAK6 Investments L.P.
PEAK6 Investments L.P. increased its stake in shares of Cigna Corporation (NYSE:CI) by 128.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,592 shares of the health services provider’s stock after buying an additional 29,692 shares during the period. PEAK6 Investments L.P.’s holdings in Cigna Corporation were worth $966,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Cigna Corporation during the first quarter worth approximately $1,456,000. Oppenheimer & Co. Inc. raised its position in shares of Cigna Corporation by 26.7% in the first quarter. Oppenheimer & Co. Inc. now owns 10,115 shares of the health services provider’s stock worth $1,482,000 after buying an additional 2,132 shares during the period. Allen Investment Management LLC raised its position in shares of Cigna Corporation by 2.7% in the first quarter. Allen Investment Management LLC now owns 3,617 shares of the health services provider’s stock worth $530,000 after buying an additional 95 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Cigna Corporation by 10.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 840,939 shares of the health services provider’s stock worth $123,190,000 after buying an additional 78,394 shares during the period. Finally, Lucus Advisors LLC bought a new position in shares of Cigna Corporation during the first quarter worth approximately $407,000. 86.88% of the stock is owned by institutional investors and hedge funds.
Cigna Corporation (NYSE:CI) traded up 0.43% during trading on Friday, reaching $173.80. 945,816 shares of the company’s stock traded hands. The stock has a market capitalization of $44.50 billion, a P/E ratio of 23.20 and a beta of 0.46. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $174.27. The company has a 50-day moving average of $164.95 and a 200 day moving average of $152.14.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The company had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $10.11 billion. During the same period in the prior year, the company earned $2.46 EPS. Cigna Corporation’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Cigna Corporation will post $9.78 earnings per share for the current fiscal year.
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Several equities analysts recently issued reports on CI shares. Zacks Investment Research lowered shares of Cigna Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Deutsche Bank AG started coverage on shares of Cigna Corporation in a report on Wednesday, April 5th. They issued a “buy” rating and a $172.00 price target on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $178.00 price target (up from $172.00) on shares of Cigna Corporation in a report on Sunday, April 23rd. Stifel Nicolaus lifted their price objective on shares of Cigna Corporation from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Cigna Corporation from $172.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Cigna Corporation presently has a consensus rating of “Buy” and a consensus price target of $176.33.
In other Cigna Corporation news, CEO David Cordani sold 153,168 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the transaction, the chief executive officer now owns 421,162 shares in the company, valued at $71,681,772.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total value of $83,350.00. Following the transaction, the vice president now owns 2,449 shares in the company, valued at approximately $408,248.30. The disclosure for this sale can be found here. Insiders sold a total of 195,201 shares of company stock valued at $32,862,614 over the last three months. 1.30% of the stock is owned by corporate insiders.
About Cigna Corporation
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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