Cigna Corporation (CI) Position Increased by Seven Eight Capital LP
Seven Eight Capital LP increased its position in shares of Cigna Corporation (NYSE:CI) by 504.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,200 shares of the health services provider’s stock after buying an additional 22,700 shares during the period. Seven Eight Capital LP’s holdings in Cigna Corporation were worth $4,553,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CI. American Beacon Advisors Inc. purchased a new position in Cigna Corporation during the first quarter valued at $102,000. Founders Capital Management purchased a new position in Cigna Corporation during the first quarter valued at $117,000. Mckinley Capital Management LLC Delaware purchased a new position in Cigna Corporation during the first quarter valued at $122,000. Parallel Advisors LLC lifted its holdings in Cigna Corporation by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 307 shares in the last quarter. Finally, Guardian Life Insurance Co. of America lifted its holdings in Cigna Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock valued at $145,000 after purchasing an additional 7 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cigna Corporation (CI) traded down 0.50% on Tuesday, reaching $185.39. 296,260 shares of the company were exchanged. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $186.93. The company has a 50-day moving average price of $177.83 and a 200 day moving average price of $164.09. The stock has a market capitalization of $46.68 billion, a PE ratio of 21.39 and a beta of 0.43.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter last year, the company earned $1.98 earnings per share. Cigna Corporation’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts forecast that Cigna Corporation will post $10.02 EPS for the current fiscal year.
Several equities analysts have recently weighed in on CI shares. UBS AG reissued a “buy” rating and issued a $186.00 price target (up from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. Jefferies Group LLC restated a “buy” rating and set a $183.00 price objective on shares of Cigna Corporation in a research report on Thursday, June 8th. Deutsche Bank AG raised their price objective on shares of Cigna Corporation from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Royal Bank Of Canada restated a “buy” rating and set a $177.00 price objective on shares of Cigna Corporation in a research report on Tuesday, June 13th. Finally, Bank of America Corporation raised their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $181.65.
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In other news, insider Michael W. Triplett sold 1,439 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $166.89, for a total transaction of $240,154.71. Following the completion of the transaction, the insider now directly owns 26,199 shares in the company, valued at approximately $4,372,351.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Mary T. Hoeltzel sold 525 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total value of $93,234.75. Following the transaction, the vice president now owns 1,924 shares in the company, valued at $341,683.16. The disclosure for this sale can be found here. Insiders sold 223,781 shares of company stock valued at $38,470,603 in the last ninety days. 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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