Pegasus Partners Ltd. Acquires New Position in Cigna Corporation (CI)
Pegasus Partners Ltd. acquired a new stake in shares of Cigna Corporation (NYSE:CI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,174 shares of the health services provider’s stock, valued at approximately $3,042,000.
A number of other large investors have also recently bought and sold shares of CI. Howland Capital Management LLC purchased a new stake in Cigna Corporation during the first quarter valued at $310,000. Quantitative Systematic Strategies LLC purchased a new stake in Cigna Corporation during the first quarter valued at $556,000. Boys Arnold & Co. Inc. raised its stake in Cigna Corporation by 1.8% in the first quarter. Boys Arnold & Co. Inc. now owns 1,833 shares of the health services provider’s stock valued at $269,000 after buying an additional 33 shares during the period. Columbus Circle Investors raised its stake in Cigna Corporation by 7.0% in the first quarter. Columbus Circle Investors now owns 44,421 shares of the health services provider’s stock valued at $6,507,000 after buying an additional 2,906 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Cigna Corporation during the first quarter valued at $689,000. Institutional investors own 87.61% of the company’s stock.
Cigna Corporation (CI) opened at 178.03 on Friday. The company has a market cap of $44.82 billion, a P/E ratio of 20.54 and a beta of 0.46. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $181.00. The company has a 50-day moving average of $173.37 and a 200-day moving average of $160.06.
Cigna Corporation (NYSE:CI) last released its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The firm had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the prior year, the company posted $1.98 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Cigna Corporation will post $10.03 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Pegasus Partners Ltd. Acquires New Position in Cigna Corporation (CI)” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.thecerbatgem.com/2017/08/18/pegasus-partners-ltd-acquires-new-position-in-cigna-corporation-ci.html.
CI has been the topic of several analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $178.00 target price (up from $172.00) on shares of Cigna Corporation in a report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Tuesday, April 25th. Stifel Nicolaus increased their target price on shares of Cigna Corporation from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Royal Bank Of Canada increased their target price on shares of Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Finally, Deutsche Bank AG increased their target price on shares of Cigna Corporation from $172.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $180.44.
In other Cigna Corporation news, VP Mary T. Hoeltzel sold 500 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total transaction of $83,350.00. Following the transaction, the vice president now owns 2,449 shares in the company, valued at $408,248.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 153,168 shares of the company’s stock in a transaction 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 approximately $71,681,772.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,463 shares of company stock worth $41,678,984. Corporate insiders own 1.30% of the company’s stock.
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.
Receive News & Stock Ratings for Cigna Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna Corporation and related stocks with our FREE daily email newsletter.