Cigna Corporation (CI) Shares Sold by Symphony Asset Management LLC
Symphony Asset Management LLC lessened its holdings in Cigna Corporation (NYSE:CI) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,603 shares of the health services provider’s stock after selling 1,744 shares during the period. Symphony Asset Management LLC’s holdings in Cigna Corporation were worth $3,784,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Riverhead Capital Management LLC raised its stake in Cigna Corporation by 159.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after acquiring an additional 3,386 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Cigna Corporation by 2.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,760 shares of the health services provider’s stock valued at $295,000 after acquiring an additional 40 shares during the period. Dai Ichi Life Insurance Company Ltd raised its stake in Cigna Corporation by 100.7% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 38,500 shares of the health services provider’s stock valued at $6,445,000 after acquiring an additional 19,316 shares during the period. Martingale Asset Management L P bought a new stake in Cigna Corporation in the 2nd quarter valued at $21,898,000. Finally, Aberdeen Asset Management PLC UK raised its stake in Cigna Corporation by 4.0% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 124,535 shares of the health services provider’s stock valued at $20,846,000 after acquiring an additional 4,734 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.
In related news, CEO David Cordani sold 153,168 shares of the business’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 sale, the chief executive officer now directly owns 421,162 shares in the company, valued at approximately $71,681,772.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael W. Triplett sold 1,439 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $166.89, for a total value of $240,154.71. Following the sale, the insider now owns 26,199 shares in the company, valued at $4,372,351.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,781 shares of company stock worth $38,470,603. 1.30% of the stock is currently owned by corporate insiders.
A number of research firms recently weighed in on CI. UBS AG restated a “buy” rating and issued a $186.00 price target (up previously from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. Bank of America Corporation increased their price target on Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, June 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $183.00 price objective on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine cut Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. increased their price objective on Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $181.65.
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Cigna Corporation (CI) traded up 0.38% during mid-day trading on Monday, hitting $185.27. The stock had a trading volume of 364,419 shares. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $185.51. The company’s 50 day moving average is $177.83 and its 200-day moving average is $163.97. The stock has a market capitalization of $46.65 billion, a P/E ratio of 21.38 and a beta of 0.43.
Cigna Corporation (NYSE:CI) last released its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The company had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that Cigna Corporation will post $10.02 EPS for the current fiscal year.
Cigna Corporation 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, and Other Operations and Corporate.
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